Recent Closings

From 6.23.21 – 6.30.21, the following transactions were recorded. Visit our “Recent Transactions” page to view more. Property: Kutztown Self Storage Location: Kutztown, PA NRSF: 22,243 Broker and Brokerage: The Hatcher Group of Marcus & Millichap Expansion Potential: Yes; approvals on 56,950 NRSF one mile away and awaiting permits Occupancy: 97.9% (physical)/86.3% (economic) Highlights: Two Eastern Pennsylvania stabilized self storage facilities 0.4 mile apart Upside through tenant insurance penetration Less than 0.5 mile from Kutztown University of Pennsylvania (roughly 8,300 students)       Property: Stowaway Storage Location: Madison Heights,…

SOLD: 4.53-Acre Development Site

The Colliers Self Storage Group is pleased to announce the sale of the Loganville Storage Development Site located at US Highway 78 & GA Highway 20 in Loganville, Georgia.  Walton Ranch, LLC, sold the parcel on June 18, 2021 to Storage Cap Leasing LLC for $800,000.  The Loganville Storage Development Site will benefit from its heavy traffic in a growing northeastern suburb of Atlanta and its location adjacent to the Loganville Town Center in Loganville, Georgia.  The development site sits within the Loganville Town Center next to Publix and behind Wendy’s,…

Albacado Limited Partnership Sells 2.96-Acre Site in North Andover Massachusetts for a Self Storage Facility

Albacado Limited Partnership sold a 2.96-acre lot on the corner of Beechwood Dr. and RT.125 in North Andover, Massachusetts to a private equity joint venture. The joint venture has received approvals to develop a state-of-the-art 90,000 square-foot self storage facility. This site is directly across the street from the redevelopment of a 2.5 million square foot Amazon distribution center. This self storage facility will serve the Andover, North Andover and Haverhill communities. North Andover and Andover have unmet demand for a facility of this type. Haverhill, MA downtown has gone…

Andover Properties Closes on a Five-Property DFW Portfolio

Andover Properties, LLC (dba Storage King USA) has recently acquired a five-property portfolio located in the Dallas-Fort Worth metro area in an off-market transaction. Andover’s portfolio includes nine facilities in this market and nineteen in the state. Four out of the five properties are in North Dallas, which more than one million people have moved to since 2010 and will see 18% population growth and an additional 1.4 million jobs over the next decade.” The five-property, single-story portfolio is over 372,500 NRSF and 2,045 units, comprising a mix of drive-up,…

Tony Hawk Invites Fans to “Live a Life Worth Storing” with Tour of His StorQuest Collection

Tony Hawk, the legendary skateboard athlete and pop culture icon, introduces the world to his rarest and most valued possessions during a tour of his personal storage unit at StorQuest Self Storage. Make room in your life for awesome things to happen.” “This isn’t just a collection of stuff,” Hawk said while describing the incredible memorabilia displayed along the walls, on shelves and tables. “It’s a collection of experiences.” The items Hawk brings to StorQuest symbolize every era and phase of his astonishing career, from turning pro skater at 14…

Self Storage Is on Fire: Is It Crazy to Buy or Build? Probably.

If you talk to anyone in the storage industry, they will tell you that they have never seen a market as hot as this one. Existing facilities are full, rents are rising, cap rates are at historic lows and every supplier is so inundated with orders that they cannot keep up. The word ‘unprecedented’ has been used an unprecedented number of times in the last 16 months, but there is no better word to describe the self storage market – what is happening right now is unprecedented. The best advice…

Storage World, Jonesboro, Georgia, Sold

Midcoast Properties Inc. announces the recent sale of Storage World, located at 9887 Tara Blvd, Jonesboro, Georgia.  Midcoast Properties represented the Seller, with Dale C. Eisenman, CCIM, as lead broker.  The facility was sold to a National REIT. The facility, situated on 4.24 +/- acres, with 54,650 rentable square feet, has 421 storage units, comprised of both climate controlled and non-climate, drive-up and interior units, as well as boat and RV parking.  Amenities include surveillance cameras, an alarm system, ample lighting, personalized keypad entry and a rental office with moving…

Just Closed: SouthPoint Storage

The Williams Storage Group is pleased to announce the recent closing of Southpoint Storage in Terre Haute, Indiana. Marla Čolić, Senior Associate with Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the Seller, a local owner/operator. SouthPoint Storage is an immaculately maintained storage facility in the growing Terre Haute, IN market.” According to Čolić, who also procured the buyer, “SouthPoint Storage is an immaculately maintained storage facility in the growing Terre Haute, IN market. The seller is divesting into a new…

Andover Properties Closes on CubeSmart Self Storage in Phoenix, AZ

Andover Properties, LLC (dba Storage King USA) has recently acquired CubeSmart Self Storage in Phoenix, AZ, marking its third acquisition in the Phoenix MSA and eighth in the state. This property has had rapid lease-up growth to date given its high-end construction quality and prime location at a busy intersection. Our business plan is to stabilize occupancy and bring rates up to the market.” The 72,388 NRSF multi-story property, which opened in September 2018, is 100% climate controlled. The property is well situated at the intersection of W Glendale Ave…