Recent Closings: 2.1.22 – 2.7.22

Property: New Build Closing Price: $18.51 Million Location: Margate, FL Buyer: Andover Properties Seller: 3L Capital NRSF: 133,872 Acreage: 2.6 Property: SafelyStor Location: Weare, NH Brokers and Brokerage: Nathan Coe, Gabriel Coe, Luke Dawley and Brett Hatcher of the Hatcher Group of Marcus & Millichap NRSF: 35,900 Unit Count: 246 Non-Climate Controlled Units and 60 RV Parking Spaces Room for Expansion: Yes, Three Buildings Totaling 12,000 SF Highlights: Multiple Competitive Offers Closed at List Price List to Close In 75 Days Newly Built, Class A Self Storage Facility Great Visibility…

Featured Broker: Adam Schlosser

Adam Schlosser leads a team of highly qualified professionals focused on the sale, acquisition, financing, research and advisory services of self storage assets throughout the United States. In a little over a decade, Mr. Schlosser has been directly involved in the successful completion of over 300 self storage transactions, totaling over four billion in dollar volume. Mr. Schlosser believes a legacy of building strong client relationships and a career dedicated to a specialized niche are the cornerstones to success allowing him and his team to deliver unmatched advisory services. Through…

North Las Vegas, NV

Click Here to View Market Information Using the Market Discovery Data Tool from StorTrack Explorer, we were able to review data on North Las Vegas, a city in Clark County, NV. Rates have been trending upwards by nearly 22% over the past year and current supply is 7.7 square feet per capita. To view additional metrics, visit the link labeled “Click Here to View Market Information” or go to StorTrack.com to purchase historical data.

Northmarq Arranges $8M Refi for Tampa Storage Asset

Northmarq has secured $8 million in refinancing for a 90,522-square-foot Extra Space Storage managed facility in Pinellas Park, Fla. Tampa-based Senior Vice President & Managing Director Robert Hernandez arranged the 10-year fixed-rate loan, with an interest rate of 2.8 percent and a 30-year amortization period. Completed in two phases, in 1986 and 2000, the asset comprises 904 climate- and non-climate controlled units, ranging from 20 to 600 square feet. The facility includes outdoor RV and boat slips, security cameras and parking spots. At the time of the transaction, the property was…

Storage Property Recognized as Best in State

Local real estate development company, Woodruff Real Estate Services, LLC, has built a self storage facility on a 2.6-acre parcel in Midland, GA. Woodruff Storage of Lakeside opened on May 17, 2021, with the project being completed ahead of schedule. The three-story building provides over 100,800 square feet. Which offers 554 climate-controlled units to the community of the Lakeside Village Apartments and its neighbors in the Columbus/Midland area. Woodruff Storage at Lakeside Village is located at 6950 Ruffie Way, just off the intersection of J R Allen Parkway and Manchester…

Recent Closings: 1.25.22 – 1.31.22

Portfolio: Tuscaloosa Two-Property Storage Portfolio Location: Tuscaloosa, AL Brokers and Brokerage: James Ashley Compton of Colliers International NRSF: 50,354 Unit Count: 524 Acreage: 7.95 Property: Voyageur Storage Location: Motley, MN Brokers and Brokerage: Matt Haugen, Alex Ihrke and Tom Flannigan of KW Commercial Minneapolis and Argus Self Storage Advisors NRSF: 5,360 + 4,334 SF Three-Unit Rental Home Unit Count: 30 Property: Renton, WA Storage Facility Closing Pricee: $16.3 Million Location: Renton, WA Sellers: Urban Self Storage Portfolio: CubeSmart (Managed) Two-Property Portfolio Location: Atlanta, GA MSA Brokers and Brokerage: Ian Lindahl…

Featured Brokers: Tom Flannigan, Alex Ihrke and Matt Haugen

Tom Flannigan, Alex Ihrke and Matt Haugen are Argus Self Storage Advisors Broker affiliates covering MN, ND and IA. Tom Flannigan is the director of investment services with KW Commercial in Minneapolis, MN. He has been involved with commercial real estate since 2012 and has established himself as an expert in self storage. Tom has a bachelor’s degree from the University of Minnesota Duluth in economics and financial markets finance and is licensed to sell real estate in Minnesota and North Dakota. A lifetime resident of Minnesota, Tom has an…

Snapbox Continues Expansion in Maryland and Florida

Philadelphia based self storage operator, Snapbox Self Storage, continues their expansion up and down the East Coast with the acquisition of three early lease-up properties in Windsor Mill, MD for an undisclosed price and in Fort Lauderdale, FL and Miami, FL for $38 million. All three properties closed in December 2021. Snapbox Self Storage – Windsor Mill, is located at 2760 Lord Baltimore Drive, Windsor Mill, MD, in the Windsor Mill neighborhood. Positioned in a great location and close to nearby cities Woodlawn, Lochearn, Randallstown, Catonsville, Millford Mill and near Western Baltimore. The 103,000 square-foot Class-A property with over 1,100 storage units was built in 2020 and…

The Industry That Keeps Hitting Home Runs

The business of brokering self-storage transactions in 2021 reminded me of baseball’s home run race in 1998 as Mark McGwire and Sammy Sosa both eclipsed Roger Maris’ mark of 61 homers that had stood for 37 years. Yes, it seemed the market surrounding the buying and selling of self storage properties was also on steroids. There were several metrics “juicing” up the transactional statistics of 2021, namely low interest rates, lowered supply due to fewer properties being constructed in the early period of COVID, increased rates from pent up demand…

Recent Closings: 1.18.22 – 1.24.22

Property: Class A Facility Closing Price: $20.2 Milllion Location: Langford, B.C. Brokers and Brokerage: Connor Braid, Harry Jones and Patrick Wood of William Wright Commercial, Victoria, B.C. NRSF: 39,525 Lot Size: 67,705 SF Acreage: 1.5 Year Built: 2020 Property: Self Storage Facility and Car Wash Location: Concord, NH Brokers and Brokerage: Joe Mendola of NAI Norwood Group, an Argus Self Storage Advisor Affiliate Unit Count: 443 Property: Alamo Boat & RV Storage Location: Lubbock, TX Brokers and Brokerage: John Owens of KW Commercial NRSF: 165,985 Unit Count: 396 Year Built:…