LandPark Advisors Acquires Self Storage Facility in Houston, Texas

LandPark Advisors, LLC. acquired the self storage facility located at 11901 SF 249, Houston, TX, currently known as Easy Self Storage. LandPark intends to enact a comprehensive two-part strategy by extensively improving and rebranding the appearance of the facility and leasing up brand-new, climate-controlled units at market rates while capitalizing on the exceptional Houston MSA, both in terms of population growth and ongoing economic diversification. This was a unique opportunity for us since our management company, Right Move Storage, has managed this asset since 2017 and also coordinated the construction…

Stratford Considering Moratorium on Self Storage Buildings

When a new self storage facility opened near the Dock Shopping Center in 2020, the town government praising the development, stating it would bring revenue to the town. With two new self storage buildings in the planning stages, Economic and Community Development Director Mary Dean said it is becoming too much. Dean recently presented a moratorium proposal to the Economic Development Commission that would put a stop to additional self storage building developments in town. She said the town had become saturated with them and a pause would allow the town to…

Recent Closings: 1.11.22 – 1.17.22

Portfolio: American Storage Portfolio Cap Rate: 6.5% Location: Amarillo, TX Brokers and Brokerage: John Owens of KW Commercial NRSF: 51,669 Unit Count: 380 Year Built: 2011 Occupancy: 84% Acreage: 3.03 Room for Expansion: Yes Portfolio: Extra Space Storage 16-Property Portfolio Locations: 12 States Brokers and Brokerage:  Aaron Swerdlin, Kenneth Cox and Taucha Hogue of Newmark NRSF: 1,300,000 Unit Count: 380 Buyer: Rosewood Property Company Property: All Town Storage Location: Granby, MA Brokers and Brokerage: Luke Dawley, Brett Hatcher, Nathan Coe and Gabriel Coe of The Hatcher Group of Marcus &…

Evanston, IL

Using the Market Discovery Data Tool from StorTrack Explorer, we were able to review data on Evanston, a city in Cook County, IL. Rates have been trending upwards by nearly 23% over the past year and current supply is 3.1 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.

Talonvest Secures Acquisition Loan for 16-Property, 1.3 Million NRSF Portfolio

Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, negotiated a permanent loan on behalf of Rosewood Property Company for the acquisition of a 16-property storage portfolio. This acquisition is the largest self storage transaction in Rosewood Property Company’s history and consists of approximately 1.3 million net rentable square feet of space in roughly 12,000 units across 12 states. Much of the portfolio consists of traditional storage offerings, although some of the facilities offer climate-controlled interiors, drive-up capabilities, and covered outdoor parking for RVs and…

Reliant Real Estate Management Buys Self Storage Portfolio

Reliant Real Estate Management, a Midgard Self Storage affiliate, has acquired a six-property self storage portfolio totaling 3,070 units in metro Atlanta. The properties traded for more than $67 million, according to Fulton County and Cobb County records. The seller was Your Extra Attic, a family-owned business. Marcus & Millichap arranged the transaction on behalf of the seller and helped procure the buyer. The facilities will operate under the Midgard Self Storage flag. Portfolio Breakdown The transaction included the 536-unit facility at 2909 Log Cabin Drive SE in Smyrna, Ga.…

StorQuest Self Storage Provides Support to Marshall Fire Victims

In an attempt to support Louisville’s restoration efforts, and help those impacted by the Marshall Fire, StorQuest is donating $1 from every rental at 28 Colorado facilities to support the Boulder County Community Foundation’s Wildfire Fund. The Marshall Fire, which started on Dec. 30, destroyed over 1,000 structures and 35,000 people were forced to evacuate from Boulder County, including the city of Louisville where StorQuest’s facility is located at 1200 Lock St. StorQuest’s donation will assist in aligning resources while the non-profit foundation will work with government and nonprofit partners to disperse…

Recent Closings: 1.4.22 – 1.10.22

Property: Store Here Self Storage Location: Chesapeake, VA Brokers and Brokerage: Brett Hatcher, Nathan Coe and Gabriel Coe of The Hatcher Group of Marcus & Millichap NRSF: 55,843 Unit Count: 450 Climate Controlled Units, Nine Suites and 23 Outdoor Parking Spaces Year Built: 2018 Occupancy: 95% (Physical) Highlights: Multiple Competitive Offers List to Close in Just Over Three Months Newly Built, Three-Story, Class-A Facility Great Visibility & Street Frontage Along Taylor Road High Daily Traffic Counts: 22,000 Cars/Day Densely Populated Area: 122,941 People Living Within a Five Mile Radius –…

The Colliers Self Storage Group Sells Eight-Property Portfolio

The Colliers Self Storage Group is pleased to announce the sale of the Boardwalk Storage Portfolio.  The portfolio consists of eight properties with two locations in Chattanooga, four locations in the greater Macon area and two locations in Dahlonega.  The portfolio offered a substantial footprint of square footage within close driving distance. Storagemaster, Inc and Boardwalk Development Group sold the portfolio to Spartan Investment Group for $45,000,000 ($121.34 PSF).  The Boardwalk Storage Portfolio has a combined parcel size of approximately 54.13 acres.  The portfolio offers tenants 370,863 rentable square feet with 2,818…

New Management for Conway, AR Self Storage Facility

Local acquisition of All Secure Mini Storage is bringing professional self storage management to the city of Conway. Ownership group organized by Absolute Storage Investment of Memphis; TN purchased this facility for an undisclosed price using First National Bank & Trust as the project’s lender. All Secure Mini Storage will be rebranded to Absolute Storage of Conway. Absolute Storage of Conway provides climate-controlled storage to the local communities in west Conway. Absolute Storage of Conway is comprised of 458 units totaling 62,030 rentable square feet. New owners have contracted with…