Category: Recent Transactions

A New York-based self-storage developer picked up a three-property assemblage in Miami’s Wynwood that is primed for redevelopment. Buyer Storage Deluxe, led by firm founder and chairman Steven J. Guttman, paid $11.3 million for the property, which consists of two adjacent warehouses repurposed as office space and a parking lot at 328, 330 and 342 Northwest 29th Street. The firm does not have any immediate plans for the site, a company executive told The Real Deal. A project of up to 12 stories can be built on the three parcels, according…

With the self-storage market booming, developer Adam Gordon is cashing out. Gordon’s firm, Wildflower, sold a roughly 3,300-unit facility it built at 3350 Park Avenue in the Morrisania section of the Bronx to Atlanta-based operator Storage Post for $65 million, Gordon told The Real Deal. Wildflower bought the property in 2017 for $9 million, public records show, and developed the nearly 130,000-square-foot self storage building on the site. Gordon said the sale represents “our firm’s continued pivot into e-commerce and content creation.” Wildflower is developing a 775,000-square-foot film production studio in Astoria…

Property: CubeSmart Self Storage (Managed) Location: Durham, NC Brokers and Brokerage: John C. Lindsey of the Lindsey Self Storage Group Unit Count:  142 Boat and RV Spaces Property: Boat, RV and Self Storage Development Site Location: Jacksonville, FL Brokers and Brokerage: Thomas Gustafson, Matt Davis, Bart Hinson and Andrew Kinney of Colliers International Acreage: 4.66 Property: Self Storage Facility in Spokane, WA Location: Spokane, WA Buyer: StorageMart NRSF: 47,900 Unit Count: 273 Property: Fremont Self Storage Closing Price: $22.8 Million Location: Port Coquitlam, BC Buyer: Make Space Capital Partners NRSF:…

SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company, and Strategic Storage Growth Trust II, Inc., a private REIT sponsored by an indirect subsidiary of SmartStop, announced today that the companies have entered into a definitive agreement to merge in an all-stock transaction, in which SSGT II will merge into a newly-formed subsidiary of SmartStop. The combined company will have a combined portfolio of 150 wholly-owned operating properties, representing approximately 11.5 million net rentable square feet and 100,500 units. This transaction will allow the combined company to,…

Property: Freedom Storage Development Location: Nashville, TN Brokers and Brokerage: Andy Beeckman and Anne Williams-Blackwell of the Williams Group of Marcus & Millichap NRSF: 71,744 Unit Count: 598 and Four Retail Units Acreage: 1.93 Highlights: Ground up Development Opportunity of a Class A Three-story 100% Climate Controlled Facility Population of 52,557 within Three Miles Median household income of $66,308 Located on Busy Retail Corridor Property: Class A Facility Sale Price: $24.5 Million Location: Chino Hills, CA Buyer: Buchanan Street Partners NRSF: 95,500 Unit Count: 920 Property: REIT-Managed Self Storage Facility…

Pathfinder Ventures Inc. is pleased to announce that on February 10, 2022, it entered into a Letter of Intent with Black Sheep Income Corp., a private B.C. company with RV and self storage assets, to acquire all of the shares of BSIC for a combination of Pathfinder shares and cash. Upon completion of the acquisition, Mr. Mark O’Donoghue and Ms. Cathy Butler will join the executive management team and Ms. Butler, the Board of Directors. Under the terms of the LOI, Pathfinder will acquire a 100% interest in BSIC, which…

Altlanta, GA-based Space Shop Self Storage has sold two self storage portfolios encompassing nine locations for $137 million to REIT Extra Space Storage. “For investors, storage facilities are a historically stable investment and portfolio transactions are testament to the strength of this real estate product,” said Jason Linscott, partner, Stein Investment Group, parent company of Space Shop. “If you look back over the past 15 years, self storage assets have been the steadiest real estate asset class during recessions and have also performed exceptionally well in good times; it always…

Property: Kane Self Storage Closing Price: $1.57 Million Location: Marlborough, MA NRSF: 18,800 Unit Count: 136 Acreage: 1.0 Property: American Storage Location: Atlantic Beach, FL Buyer: InSite Property Group NRSF: 49,331 Unit Count: 504 Drive-Up Units and 39 Parknig Spaces Occupancy: 97% Property: CubeSmart (Managed) Closing Price: $10 Million Location: Teaneck, NJ Buyer: StorageBlue NRSF: 40,000 Property: Walter Hill Self Storage Location: Murfreesboro, TN Brokers and Brokerage: Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 45,350 Unit Count: 273 Non-Climate Controlled, Four Offices, Two…

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…