Category: Recent Transactions

A partnership between Invesco Real Estate and Baranof Holdings has paid $48.5 million for Solana Beach Storage, an 895-unit self storage facility in Solana Beach, Calif. Cushman & Wakefield negotiated the transaction on behalf of the buyer. The seller, a private investor, developed the property in 1993. The facility was 92 percent leased at the time of the sale. Extra Space Storage was tapped to manage the asset. Located at 545 Stevens Ave. W., Solana Beach Storagecomprises seven one- and two-story buildings spanning 3.5 acres. Storage spaces range between 20…

SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage sector across the United States, announced today that it has acquired 28 stabilized properties in Michigan and Ohio and has added 1.9 million net rentable square feet to its portfolio. With this acquisition, SpareBox has opened up seven new markets in the Midwest with strong underlying fundamentals and demographics. Steve Treadwell, CEO of SpareBox Storage noted, “We are incredibly proud to complete our largest acquisition to date, with the addition of 28 properties in thriving…

Tom Flannigan, Alex Ihrke and Matt Haugen of KW Commercial Minneapolis represented the seller and procured the buyer for the sale of Storage Lounge in Mankato, Minnesota. The multi-level facility sold for $8,100,000 and consists of 759 units. There is a total of 75,734 rentable square feet of climate controlled self storage and the facility sits on 1.81 acres.  Tom and Alex are the Argus broker affiliates representing the states of Minnesota, North Dakota and Iowa. They can be reached at 651-269-6307.  Based in Denver, Colorado, Argus Self Storage Advisors…

Senior Vice President Tom de Jong of Colliers’ Self Storage Group acted as a consultant on behalf of the seller in a $20 million sale of a new Extra Space Storage facility in Tigard, Oregon, southwest of Portland. The sale closed on August 31, 2021 and was purchased by Red Hat Enterprises, an experienced self storage investor with 12 other properties managed by Extra Space Storage. The Extra Space Storage self storage facility is a third party managed facility and was completed in January 2020 and was sold by the…

Property: Public Storage (Managed) Three Property Portfolio Location: Chattanooga, TN and Greenville, SC Brokers and Brokerage: Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 154,840 Unit Count: 1,453 Climate Controlled Room for Expansion: Yes Occupancy: 87% Combined (Physical) Highlights: Institutional Class-A Three Property Portfolio Two Locations in Chattanooga, TN – 3 Miles Apart from Each Other and One Located in Greenville, SC Available Expansion for 20 Additional Lockers at Downtown Location Excellent Locations and Street Frontage High Daily Traffic Counts: NorthShore: 18,000 Cars/Day |…

Berkshire Hathaway is pleased to report the sale of Terminal Storage located in the Myrtle Beach, South Carolina MSA. The property consists of 75,000 net rentable square feet of self storage and warehouse space. The property had been broadly marketed with three other self storage brokers over the last three years, and our client thought he may have to hold it forever.” Berkshire’s Cameron Vale, Senior Vice President, and Parker Sweet, President, represented the seller and secured the buyer. “This well occupied cash flowing asset presented tremendous upside in both…

Property: Advance Self Storage Center Location: Hager City, WI Brokers and Brokerage: Brian Kelly, Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 61,560 Units: 376 Non-Climate Controlled | 62 Parking Spaces Occupancy: 98.4% Highlights: Below Market Rents Great Visibility Along US Hwy 63 High Daily Traffic Counts: 10,500 Cars per Day 40 Miles Outside of Downtown Minnesota Property: Extra Space Storage (Managed) Location: Surfside Beach, SC Closing Price: $9.7 Million Broker and Brokerage: James “Ashley” Compton of Colliers Buyer: Prime Group Holdings Seller: Ziff…

SROA Capital LLC has scooped up an additional 26 self storage facilities, bringing the Florida-based investment firm’s portfolio to more than 200 storage properties spread out mostly in secondary and tertiary markets east of the Mississippi River. SROA Capital operates self storage facilities under the Storage Rentals of America brand name. Acquiring StayLock Storage SROA Capital announced last week that it has purchased StayLock Storage for an undisclosed sum from two private investment firms based in St. Louis—Cequel III and Thompson Street Capital Partners. In the same announcement, SROA Capital…