Category: Recent Transactions

Two years since the start of the COVID-19 pandemic, self storage assets continue to be in high demand for both consumers and investors as many employees remain working from home. Investor interest in the Seattle metropolitan area continues to hold true, with recent deals exemplifying this trend. In one recent deal that closed on July 12, Harrison Street Capital acquired four self storage assets for a combined $147.6 million. In each transactions, Seattle-based Columbia Pacific Advisors was the seller. In the first transaction, Harrison Street acquired a 129,261 square foot…

Portfolio: Store Your Stuff Two Property Portfolio Locations: Clay and Baldwinsville, NY Brokers and Brokerage: Brett Hatcher, Luke Dawley, Nathan Coe and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 83,550 Unit Count: 748 Physical Occupancy: 100% Highlights: Two Property, Syracuse MSA Self Storage Portfolio Multiple Offers Well Above List Price Closed Well Above List Price Climate Controlled and Non-Climate Controlled Units Both Locations Have Dense, Growing and Affluent Surrounding Populations Excellent Locations and Street Frontage Property: Mojave Self Storage Location: Mojave, CA Brokers and Brokerage: Keith…

Portfolio: Nicol Investment Company’s Self Storage Portfolio Closing Price: $102 Million Locations: Franklin, Hendersonville, Nashville and Two Facilities in Murfreesboro, TN Brokers and Brokerage: Ashley Compton of Colliers Self Storage Group Buyer: Hines Global Income Trust NRSF: 341,202 and 13,445 of Retail Space Unit Count: 3,204 Climate-Controlled Units Details: Carothers – 697-unit, 71,925 net RSF of storage on Carothers Parkway in Franklin, TN Hendersonville – 599-unit, 67,893 RSF of storage with 9,545 SF of 4 ground-floor retail suites on Saundersville Road in Hendersonville, TN Murfreesboro – 577-unit, 67,315 net RSF…

Invesco Real Estate Income Trust Inc. (“INREIT”), an institutionally managed, public non-listed REIT, announced today two self storage portfolio acquisitions consisting of five properties located in Bend, Oregon and Clarksville, Tennessee. The combined purchase price was $42 million, bringing INREIT’s self storage portfolio to over $128 million. “Self storage continues to be a strategic sector for INREIT given the ability to increase cash flow relatively quickly,” said R. Scott Dennis, President and Chief Executive Officer for INREIT. “These properties exhibit strong demand and are well-located in their respective markets. We…

A few years after Shibber Khan’s Criterion Group first explored selling a Long Island City site on Northern Boulevard, the firm has finally executed a deal. Criterion sold the commercial unit at 31-08 Northern Boulevard to the Carlyle Group for $80 million, public records show. The commercial condo unit spans 180,000 square feet, occupying part of the building’s first floor and the entirety of the remaining floors. The Queens-based development firm bought the development site in 2015 from investor Joel Gluck for $40 million, planning to hold on to it…

Property: Public Storage (Managed) Location: Spring Hill, TN Brokers and Brokerage: Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 53,690 Unit Count: 487 Climate Controlled Units and 21 Parking Spaces Highlights: Newly Built, Class A, All Climate Controlled Self Storage Facility Opened in 2018 Excellent Visibility and Street Frontage off US Route 31 Convenient Location and Easily Accessible High Daily Traffic Counts: 14,000 Cars/Day Rapidly Growing Surrounding Population: 344% Increase within in a Five Mile Radius Since 2000 Affluent Market: Average Household…

StorageVaul Canada”) (SVI-TSX) is pleased to announce that, further to its May 12, 2022 news release, it has completed the acquisition of six stores  from six vendor groups, for an aggregate purchase price of $167.5 million. Five of the acquisitions are arm’s length and one is a related party acquisition with Access Self Storage Inc. as the  vendor. The aggregate purchase price for the acquisitions in the amount of $167.5 million, subject to customary adjustments, was paid by the issuance of an aggregate of 814,686 common shares of StorageVault at…

Property: U-Storage Closing Price: $4.45 Million Location: Las Vegas, NV Brokers and Brokerage: Nick Kornieck, Michael R. LaBar and Michael L. Shaffner of Marcus & Millichap NRSF: 36,400 Unit Count: 348 Acreage: 6.1 Cap Rate: 5.5% Property: Extra Space Storage (Managed) Location: Kansas City, MO Brokers and Brokerage: George Kondracke, Brett Hatcher, Brian Kelly and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 117,390 Unit Count: 951 Climate Controlled Units and 21 Parking Spaces Room for Expansion: Yes Highlights: Newly Converted, Class A Self Storage Facility High…

Property: Value Store It Closing Price: $5 Million Location: Worcester, MA Buyer: Storage Rentals of America Property: MV Investment New Development Location: Ft. Myers, FL Buyer: HPI Real Estate Services & Investments NRSF: 100,000 Unit Count: 800 Property: Arizona Self Storage Facility Closing Price: $25.5 Million Location: Chandler, AZ Brokers and Brokerage: Denise Nunez and Victoria Filice of NAI Horizon NRSF: 150,260 Property: 65-Acre Self Storage Property Location: San Antonio, TX Brokerage: Point Acquisitions NRSF: 362,000 Acreage: 65 Unit Count: 700 Room for Expansion: Yes Property: Conversion Opportunity Location: Vernal,…

Property: Business Park Mini Storage Location: White House, TN Brokers and Brokerage: Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 70,825 Unit Count: 17 Climate Controlled and 416 Non-Climate Controlled Units Physical Occupancy: 95% Year Built/Expanded: 2016/2018 Highlights: Nashville, Tennessee MSA Self Storage Facility High Daily Traffic Counts: 6,800 Cars/Day Population Growth of 47% within a Five-Mile Radius Since 2000 Property: PA U-Store-It Closing Price: $3.2 Million Location: Prince Albert, Saskatchewan Buyer: Make Space Capital Partners NRSF: 33,200 Unit Count: 262 Property:…