Recent Transactions: 6.06.2023 – 6.12.2023

Property: Central Virginia Stabilized Self Storage Portfolio Location: Oklahoma City, OK Buyer: LSC Development Brokers and Brokerage: Michael Brewster, Drew Quinn, Brad Peterson, El Warner and Charley Simpson of Colliers Square Feet: 161,190 Highlights: Plans for an adaptive reuse project including retail outlets and a self storage facility   Property: Storage General Cedar Location: Cedar City, UT Buyer: Utah Built LLC Seller: Garn Development Brokers and Brokerage: Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 456,758 Unit Count: 2,133 units Highlights: Electronic gate access…

Self-Storage Capital Markets Update: 2Q 2023

Following the record-breaking performance of the self-storage sector coming out of COVID-19, and the unprecedented transaction volume seen during 2021 and 2022, self storage stakeholders have been asking the question: what is next for self-storage? Will heightened investor demand for self-storage continues to fuel the sector’s capital markets? And was the operational performance we saw during the past two calendar years just a flash in the pan, or is it the new normal? Funds raised for self-storage are at an all-time high, both from private capital and institutional sources. Yet…

Climate-Controlled Units Offer Advantages as Summer Temperatures Rise

Rising temperatures can have significant effects on your tenants and their property in units without climate control. Repeated exposure to heat and humidity can cause irreversible damage to their possessions or create a safety concern for a tenant in an overheated unit. Facility owners can help avoid this by offering climate-controlled units. To preserve the integrity of your tenants’ stored belongings and to improve the customer experience, we recommend considering climate-controlled storage units at your facility. These specialty units are designed to regulate temperature and humidity levels regardless of the…

Recent Transactions: 5.30.2023 – 6.05.2023

Portfolio: Central Virginia Stabilized Self Storage Portfolio Location: VA Brokers and Brokerage: Nathan Coe, Brett Hatcher, Gabriel Coe and Brian Hosey of The Hatcher and Coe Group of Marcus & Millichap NRSF: 85,690 (Combined) Unit Count: 232 climate-controlled and 413 Non-climate-controlled units (Combined) + 27 Parking Spaces Physical Occupancy: 92% Highlights: Nearly 20% Population Growth Since 2000 Two Commercial Units and One Portable Unit   Property: Storage Sense Location: Swatara Township, PA Closing Deal: $7.8 Million Buyer: Moove In Self Storage Seller: Volant Development Company Square Feet: 56,850 Unit Count: 461…

Coming to Auburn: U-Haul to Develop Land for New Store by 2025

Plans call for an attractive four-story self storage building encompassing more than 100,000 square feet. The store will offer 700-plus indoor, ADA-accessible self storage units with climate-control options and high-tech security features at affordable price points. U-Haul also plans to build a separate warehouse for portable moving containers.” A modern U-Haul® retail, moving and self storage facility is coming to Auburn thanks to the recent acquisition of 4.5 acres of bare land on W. Creek Parkway. U-Haul Moving & Storage at West Pace is scheduled for completion by the summer…

Investing in Bowling Green: U-Haul to Build New Store, Add Jobs by 2025

The multi-story facility will include more than 750 indoor climate-controlled self storage rooms with high-end security features at affordable price points. Customers will have access to truck and trailer rentals, boxes and moving supplies, towing equipment, professional hitch installation, propane and much more.” U-Haul® will soon showcase a new retail, moving and self storage center in Bowling Green thanks to the recent land acquisition of 5.15 acres on Nashville Road, just southwest of William H. Natcher Parkway. U-Haul Moving & Storage of South Bowling Green is scheduled to be built…

EagleBridge Capital Arranges $22 Million Construction/Permanent Mortgage Financing for Self Storage Facility

EagleBridge Capital has arranged construction/permanent mortgage financing in the amount of $22 million for a new self storage facility property currently under construction in Redding, Connecticut.” The mortgage financing was arranged by EagleBridge Senior Director Brian Walsh who stated that the loan was provided by a major national bank. The self storage facility shall contain 675 fully sprinklered, climate-controlled units ranging in size from 20 to 300+ square feet plus several flex/industrial units. The facility will offer 24/7/365 key card security and gated access security. It will be managed by…

Houston REIT Turning Entire 7 Million Square Feet Portfolio into Self Storage

Silver Star Properties is making significant changes to its investment strategy, repositioning its portfolio of office, retail and industrial holdings into self-storage, according to a May 26 SEC filing. Silver Star is repositioning its entire 6.8 million-square-foot portfolio to self-storage, a plan its board of directors’ executive committee outlined on April 6. The Houston-based REIT completed a $3 million acquisition of Southern Star Self-Storage Investment Company in early May to operate alongside its existing operations. The company saw a $24 million loss in the recoverable value of eight properties by…

Stuf Brings Tech-Enabled Self Storage to Two Seattle Office Properties

Stuf, a New York City-based self-storage startup, has entered the Seattle market with two new locations, both utilizing space within office properties. With locations in eight metro areas, Stuf partners with property owners to monetize basements, garages and other spaces in buildings as tech-enabled storage. “Over the last year, we have tripled our real estate footprint by partnering with incredible office, multifamily, and retail landlords who see value across the entire asset and seek to monetize their buildings in new and creative ways,” said Katharine Lau, CEO and co-founder, Stuf.…

Featured Broker: Brandon Robinson

Brandon Robinson is the National Director of Investment Sales at Calvary Realty. Brandon and the Calvary Realty Storage Group specialize in self storage and commercial transactions nationwide. With prestigious recognitions, such as CoStar’s “Power Broker” and Crexi’s “Platinum Broker” under his belt, Brandon’s strength is in his client-agent relationships, assisting both buyers and sellers to achieve the best outcome in every transaction. Over the past six years, he has overseen the growth of Calvary Realty into one of the top storage brokerage firms in the nation. Throughout his 16-year career,…