Phoenix Investors: To convert Menasha Industrial Facility into Self-Storage in Menasha, WI

An affiliate of Phoenix Investors (“Phoenix”), a private commercial real estate firm headquartered in Milwaukee, Wisconsin, announced it will convert its property located at 2225 American Drive in Menasha, Wisconsin into a large self-storage facility. Consisting of approximately 65,000 net rentable square feet, Phoenix intends to add up to 600 self-storage units to the property. In addition to the self-storage conversion, the facility will offer over 100,000 square feet of RV and boat storage parking and several executive office suites. Formerly operated as a call center, the subject site features…

Recent Transactions: 9.26.2023 – 10.2.2023

Portfolio: Four Self Storage Properties (operated under the Prime Storage brand) Locations: Temple Terrace – FL, Shirley & Nanuet – NY, and Gastonia – NC Buyer: Prime Group Holdings, LLC NRSF: 362,000 rentable 50,800 NRSF (Shirley, NY) 88,700 NRSF (two-building property in Temple Terrace, FL) 108,900 NRSF (three-building facility in Gastonia, NC) 113,701 NRSF (two-building facility in Nanuet, NY) Unit Count: 3,540 climate-controlled units   Property: Bin 741 Storage Location: Forney, TX Year Built: 2017 Brokers and Brokerage: Danny Cunningham and Brandon Karr of The Karr-Cunningham Storage Team of Marcus…

Basis Industrial Closes on $8.3 Million Construction Loan for Self-Storage Facility in Detroit, MI

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, closed on an $8.308 million construction loan on Sept. 22, 2023 for a self-storage facility located at 1610 Algonquin Street, Detroit, MI 48215. Basis Industrial acquired the land on which the storage facility is being built in October 2021. This is Basis’ third construction loan closing this year. Basis continues to source financing due to its long track record of success and deep financial acumen. Berkadia sourced the construction financing from Old…

Recent Transactions: 9.19.2023 – 9.25.2023

Property: Simply Stor-It Location: Mitchell, SD Buyer: U-Haul Square Feet: 8,800 Unit Count: 329 climate-controlled self-storage rooms + 48 indoor parking spots   Property: CubeSmart Self Storage Location: Lafayette, IN Closing Deal: $6.2 Million Broker and Brokerage: Rob Schick of Argus Square Feet: 41,960 Room For Expansion: Yes (additional 45,000 square feet) Unit Count: 315 units     Property: Self Storage Facility (operate under the Extra Space Storage brand) Location: Newark, NJ Buyer: CrownPoint Group Inc. and Lamar Cos. (Joint Venture) Acreage: 1 acre Square Feet: 135,000 Unit Count: 1,200…

Market of the Month: Redmond, WA

StorTrack’s featured market this month is Redmond, WA. Redmond is located 15 miles east of Seattle. The city prides itself on its high quality of life with 57 schools, a healthy economic base, and an emphasis on quality development and protection of the natural environment. How is Redmond as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment. Self Storage Market Metrics for Redmond, WA Current Supply: There…

Big Cypress Capital, an SB360 Affiliate, 4 Rivers Property Group, Declaration Partners Form JV to Develop Self-Storage Facilities Throughout Southeastern US

Big Cypress Capital, an SB360 Capital Partners affiliate, along with 4 Rivers Property Group and Declaration Partners (the “Partnership”), announced the formation of a joint venture to develop ground-up Class A self-storage facilities in high-growth markets throughout the Southeastern US. In announcing the joint venture, the Partnership also disclosed it completed its first land acquisition in Southwest Florida in 2Q 2023. Development on the high-traffic site located on US 41 in Sarasota will commence by early 2024 and deliver approximately 12 months later. The Partnership will engage with best-in-class third-party…

Four-Story Self-Storage Facility Proposed in Sayreville, NJ

A four-story self-storage facility is proposed for Jernee Mill Road. Lot 15 Jernee Mill, LLC, of Brooklyn, New York, is seeking preliminary and final major site plan approval to construct the facility at 18 Jernee Mill Road. The 14.2-acre site is located in the Special Economic Development Zone and is undeveloped, according to public documents. The new building would have a 33,250-square-foot footprint for a total of 133,000 square feet. There are 27 parking spaces proposed. The applicant is requesting variance relief for two 100-square-foot façade signs, where the ordinance…

Five Points Shopping Center sold for $3 Million – The Site planned For a Self Storage in Fairborn, OH

A Fairborn shopping center largely vacant since losing a Kmart several years ago has been sold for $3 million, Greene County records show. The 9.5-acre Fairborn Five Points Shopping Center, the site of a planned 600-unit indoor self-storage facility, has been bought by Cobblestone Capital of Bowling Green, Ky., according to the county auditor’s office. Cobblestone Capital purchased the site at 224 E. Dayton Yellow Springs Road last month from Gator Five Points Partners, which bought it for $2.1 million in 2007, according to county records. The site is at…

Featured Broker: Adam Schlosser

Adam Schlosser leads a team of highly qualified professionals focused on the sale, acquisition, financing, research, and advisory services of self-storage assets throughout the United States. In a little over a decade, Mr. Schlosser has been directly involved in the successful completion of over 300 self-storage transactions, totaling over four billion in dollar volume. Mr. Schlosser believes a legacy of building strong client relationships and a career dedicated to a specialized niche are the cornerstones to success allowing him and his team to deliver unmatched advisory services. Through helping his…

One Stop Self Storage Expands its Reach to a New Convenient Location in Chicago, IL

One Stop Self Storage is excited to announce the grand opening of its newest facility at 1750 N Lawndale Ave, Chicago. With this expansion, One Stop Self Storage aims to meet the increasing demand for storage solutions in the vibrant city of Chicago. Located in the heart of Chicago, this new facility offers a wide range of storage options to cater to the diverse needs of the local community. Whether it’s decluttering, storing belongings during a move, or finding a secure place for extra inventory or business supplies, One Stop…