Recent Transactions: 03.07.2023 – 03.13.2023

Property: Hanover Self Storage Location: Hanover, PA Brokers and Brokerage: Luke Dawley, Nathan Coe, Gabriel Coe and Brett Hatcher of the Hatcher-Coe Group of Marcus & Millichap NRSF: 32,150 Unit Count: 278 non-climate and climate-controlled units Physical Occupancy: 92%   Property: A RV Storage Location: Joshua, TX Brokers and Brokerage: Bryan Quaschnick, Danny Cunningham and Brandon Karr of the Karr- Cunningham Storage Team of Marcus & Millichap NRSF: 45,072 Unit Count: 100 units Highlights: Perimeter fencing and lighting Wide driveways 24/7 video surveillance system Opportunity for expansion Garage-style roll-up doors…

Marcus & Millichap Adds Andreas Makris to Bledsoe Self Storage Group

Andreas’ extreme professionalism and organization throughout the transaction left a great impression on me” Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the newest addition to the Bledsoe Self Storage Group, Andreas Makris, serving the Northeast and Mid-Atlantic markets in the Self Storage Division. The founder of the team, Kevin Bledsoe, joined Marcus & Millichap in July 2022. Bledsoe’s decision to add Makris aligns with his long-term strategy to unify talented advisors to best serve self storage…

Market of the Month: Millcreek, UT

StorTrack’s featured market this month is Millcreek, UT. Millcreek is a suburb nestled between Salt Lake City and South Salt Lake. The area boasts scenic views of the Wasatch Mountains and is home to Millcreek Canyon, a popular destination for outdoor enthusiasts. How is Millcreek as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to find out the potential as a self-storage investment. Self Storage Market Metrics for Millcreek, UT Current Supply: There are 5.22 square feet per capita in this market. For comparison,…

Recent Transactions: 02.28.2023 – 03.06.2023

Property: Old Town Storage Location: Winston Salem, NC Brokers and Brokerage: Nathan Coe, Gabriel Coe and Brett Hatcher of the Hatcher-Coe Group of Marcus & Millichap NRSF: 7,200 Unit Count: 75 non-climate-controlled units and 40 parking spaces Physical Occupancy: 83% Highlights: Dense & growing surrounding population: 92,976 people living within five-miles – which represents a 19% increase since 2000 Affluent market: $93,825 average household income within five-miles of the facility Portfolio: All Steel Storage Two Property Portfolio Location: Lake Placid & Sebring, FL Brokers and Brokerage: Gabriel Coe, Brett Hatcher,…

Featured Broker: Mike Helline

Mike Helline is a licensed real estate agent in Kentucky specializing in retail, investment and self storage properties. He is the Argus Broker Affiliate for the states of Kentucky & Tennessee. Mike also has extensive experience in the automotive and automotive after-market accessory businesses as well as experience in the car wash industry. Mike holds a degree in business administration from Bellarmine College. He also served in the U.S. Navy.

50-Unit Storage Facility Opens in Old Snowmass

The first self storage facility ever built in Snowmass.” Snowmass Self Storage consists of two new buildings with small and large units in Old Snowmass near the corner of Highway 82 and Snowmass Creek Road. The buildings were constructed in the same location as a former open lot that contained various vehicles and watercraft. Amid a market in which availability at regional storage facilities has been limited in recent years, two entrepreneurs have opened a new storage center in Old Snowmass. Snowmass Self Storage, developed by Ryan Chadwick and business…

Associated Banc: Bank Announces $8.6 Million Loan for Self Storage Facility in Spring Hill, Florida

Associated Bank announced the closing of an $8,639,027 bridge loan to an affiliate of Metro Storage LLC for the completion of 504 climate-controlled self-storage units (49,806 square feet), and 39 non-climate-controlled units (13,050 square feet), at 3286 Barclay Avenue in Spring Hill, Florida. The project also includes 83 covered and 31 covered RV and boat parking spaces. The property was previously vacant land.” Lake Forest, Illinois-based Metro Storage LLC manages over 6.1 million square feet of storage across 88 locations in 12 states and is among the largest private owners/operators/managers…

The Roll Up: Developer Breaks Ground on 7-Story Long Island Facility

In Hempstead, NY on Long Island, LSC Development LLC broke ground on a seven-story self-storage building. It will have 1,382 climate-controlled units spread across 112,188 NRSF. It’s scheduled for completion in Q4 2024. Mancini Mui Architects designed the building. Park East Construction is serving as a general contractor and Centier Bank is providing a construction loan. Source

Absolute Storage Adds 3 Facilities to Management Portfolio

The properties are located in Georgia, Louisiana and Texas.” Absolute Storage Management has been selected to provide management services for three self storage facilities located in three Southern U.S. states, starting January 2023. The properties are in Georgia, Louisiana and Texas, with the last two under private ownership. Absolute Storage Management, founded in 2002, operates more than 140 properties across the U.S. Lumpkin 400 Storage in Dahlonega, Georgia, is an 88,396-rentable-square-foot facility that comprises 573 non-climate and climate-controlled units, ranging from 25 to 300 square feet. The property is located…

Recent Transactions: 02.21.2023 – 02.27.2023

Property: Tech Secured Storage Location: Tomball, TX Year Built: between 2019 and 2020 Brokers and Brokerage: Dave Knobler, Brian Kelly, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap Average Household Income: $145,472 Daily Traffic Counts: 30,200 cars/day NRSF: 60,025 Unit Count: 530 Highlights: Facility is equipped with state-of-the-art technology Booming population growth area of Tomball: there are currently around 68,000 residents within three miles and the area is projected to grow 25% within five years Property: Absolute Mini Storage Location: Archdale, NC Brokers and Brokerage:…