Category: Recent Transactions

The Hatcher Group of Marcus & Millichap recently brokered the sale of four stabilized self storage facilities in Southern Maine consisting of 92,275 combined net rentable square feet throughout 793 total units. The portfolio had a combined physical occupancy of 93.95% and there is an opportunity for upside via 15,000 fully approved and graded square feet for expansion in Oxford, a site which was built in 2019 and is already more than 96% occupied. The Windham location was expanded in 2018, which included climate controlled units and is already at…

Larry Goldman, CCIM, of Goldman Investment Advisors, is pleased to announce the sale of I 35 Self Storage in Cameron, Missouri. I 35 sits on approximately 1.4 acres and offers 41,880 rentable square feet of storage. The sale closed May 4, 2021. The facility sold to a local investor who will be enhancing and streamlining operations. After the buyer stabilizes the facility, he plans to expand the property and gain the economies of scale of a larger facility. First Missouri Bank of Brookfield, Missouri provided conventional bank financing for the…

Storage Star purchased the 64,900-square-foot self storage facility at 2110 Quail Creek Road in Laredo, TX. The facility features 445 units. Jon Danklefs of the San Antonio office represented the seller. The former Quail Creek Self Storage facility will be rebranded Storage Star. The deal marks Storage Star’s 10th acquisition in Texas, and 32nd overall. Source

SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage market across the United States, recently purchased 13 stabilized properties in Myrtle Beach, SC and Amarillo, TX from multiple sellers. Combined, these properties are comprised of approximately 330,000 net rentable square feet and 2,500 units with over 88% occupancy. “These acquisitions underscore SpareBox’s strategy in building a diversified portfolio of high-quality, stabilized assets in secondary and tertiary markets with great demographic fundamentals.”   The South Carolina portfolio acquisition opens a promising new market for SpareBox…

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of I-20 Ranch Self Storage, a 55,956-square foot self storage facility located in Longview, Texas, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office. Brandon Karr, Senior Vice President Investments, and Danny Cunningham, First Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the sellers, a family operation based…

Marcus & Millichap has brokered the sale of Amadco Self Storage, a facility in Fort Worth. The number of units was not disclosed. The property is situated on 10 acres and spans 31,305 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. Source

Toronto-based Bluebird Self Storage continues to expand across the country with an aggressive plan to grow its portfolio. Recently, the company announced it had acquired StoreSmart Self Storage’s five locations in Alberta – Canmore, Cochrane, Edmonton, Red Deer and Sherwood Park – adding 3,000 units comprising 362,000 square feet of space to its portfolio. Bluebird is now the fourth-largest self storage company in Alberta and seventh-largest in Canada. Reade DeCurtins, Bluebird Self Storage’s co-founder and real estate director based in Calgary, said the Alberta market is fertile ground for the…

A 1-acre industrial property in Bella Vista changed hands recently for $800,000. Shaw Property Holdings LLC, managed by James Shaw, bought the Bella Vista Central Storage self storage facility at 687 Rogers Road. BV Central Storage, managed by Zack Quick, was the seller. Arvest Bank provided financing with a five-year, $640,000 loan. City Title & Closing was the title agent. Zack Kifer with Newmark Moses Tucker Partners represented the seller. Josh Singleterry with Newmark Moses Tucker Partners represented the buyer. The 85-unit facility includes multiple buildings totaling 13,886 square feet…

Merit Hill Capital purchased Good Spot Storage, a 30,000 square foot, self storage facility at 3735 Mangum Rd., as reported by BizNow. Marcus & Millichap’s Dave Knobler marketed the property on behalf of the seller, a private investor. Source