NH Self Storage Association (NHSSA) and Northeast Self Storage Association (NeSSA) Storage Expo 2023

Save the Dates! NHSSA Spring Happy Hour May 31, 2023 Portsmouth Brewery https://www.nhssa.net/events/  NeSSA Fall Retreat September 26, 2023 Publick House Historic Inn Sturbridge, MA https://www.nessa.org/fall-retreat  NHSSA Fall Workshop September 27, 2023 The Puritan Backroom Manchester, NH https://www.nhssa.net/events/ For more information, please contact; Courtney J. Kahler, Executive Director Northeast Self Storage Association e-mail: cjkahler@nhssa.net Check out our ongoing webinars throughout the year! 2023 Five-Star Sponsors

Storage Exchange Closes Over 269,000 NRSF in Q1 2023

Nine self storage properties are successfully facilitated Storage Exchange announces the closing of nine self storage properties in Q1 2023, comprising over 269,000 NRSF. These properties are located in Texas, Arizona, and Louisiana. Ideal Self Storage: Located in Central Texas, this 6-property portfolio contains 155,765 rentable sq. ft. The portfolio’s 24.05 acres are well-positioned in the trade area. Liam Duddy, Director of Investment Sales for Storage Exchange, facilitated the sale of all 6 locations. Xtra Space Self Storage: Located near Prescott Regional Airport in Chino Valley, AZ, the 48,475 sq.…

Extra Space Storage & Life Storage Combine to Form the Pre-eminent Storage Operator

The transaction brings together two industry-leading platforms, and the combined company is expected to have a pro forma equity market capitalization of approximately $36 billion and a total enterprise value of approximately $47 billion.” Extra Space Storage Inc. (NYSE: EXR) (“Extra Space”) and Life Storage, Inc. (NYSE: LSI) (“Life Storage”) announced today that the two companies have entered into a definitive merger agreement by which Extra Space will acquire Life Storage in an all-stock transaction. The transaction brings together two industry-leading platforms, and the combined company is expected to have…

InSite to Build Five-Story Self Storage Facility in Glendale

InSite bought the property for $6.6 million in January. It was sold along with an adjacent lot at 111 Concord Street.” Torrance-based firm InSite plans to convert a Glendale industrial site into a five-story self-storage facility. The property, located at 127 Concord Street, currently contains a 22,000-square-foot structure leased to printing company Chromatic. InSite, which specializes in self-storage projects, is looking to replace the existing building with a five-story, 112,200-square-foot facility, according to documents filed with Glendale’s planning department. Plans for the site also include two levels for a subterranean…

Major Self Storage Expansion in Upper East Side, New York City

Manhattan Mini Storage Announces Expansion Plans to Add 65,000 Square Feet of Self-Storage in Upper East Side.” Manhattan Mini Storage is expanding its reach on the Upper East Side with plans to repurpose the former CMX Cinema into self-storage. The 6-level conversion will add 65,000 net rentable square feet of storage and 1,200 climate-controlled units to the area by 2024. Manhattan Mini Storage has taken a strong stance on green building practices and sustainable construction solutions with this project. Weyen Burnam, Global Director of Real Estate said, “Upcycling unused or…

StorageVault to Acquire Three Locations for $21.8 Million

Storagevault Canada Inc. (“StorageVault”) (SVI-TSX) has agreed to acquire three locations from three vendor groups (collectively, the “Vendors”) for an aggregate purchase price of $21,825,000, subject to customary adjustments (the “Acquisitions”). Two of the Acquisitions are arm’s length and one for $13,000,000 is a related party acquisition (the “Related Party Acquisition”) with Access Self Storage Inc. (“Access”) as the Vendor for that Acquisition. It is anticipated that the Acquisitions will close in Q1 and Q2 2023. Two of the assets are located in Nova Scotia and the other in Alberta.…

Recent Transactions: 03.28.2023 – 04.03.2023

Property: Budget Self Storage Location: Laredo, TX Broker and Brokerage: Jon Danklefs of Marcus & Millichap Acreage: 1.60 acres Unit Count: 199 units Property: Turbo Storage Location: Shelbyville, TN Brokers and Brokerage: John C. Lindsey and Matt Rosendale of Lindsey Self Storage Group NRSF: 9,300 Portfolio: Canoga Avenue Property Locations: Woodland Hills and Diamond Bar, CA Closing Price: $69.6 Million & $17 Million Buyer: William Warren Group Seller: Storage, Etc. Broker and Brokerage: Larissa Belova of CBRE Square Feet: 107,000 & 18,000 Unit Count: 199 units Property: Public Storage Location:…

Featured Broker: Kirk Martin

Kirk Martin, a graduate of the University of Wisconsin – LA Crosse with a degree in Finance and Accounting, covers the Midwest territories for Lindsey Self Storage Group. Kirk has facilitated several transactions in the Wisconsin, Minnesota, Michigan, Missouri, Iowa, Ohio, North Carolina, South Carolina and Texas markets. While ensuring his clients achieve the maximum sale price for each transaction through his work ethic and deep market knowledge, Kirk takes pride in developing relationships that go beyond the profit and loss statements.

New Self Storage Facility Set to Open in Fayetteville, NC

  We take pride in filling a need for high-quality self storage units for our nation’s service members. In terms of investment, adjacency to military bases offers a solid and stable return for investors, which is why we selected this market.” MV Investment is set to open a new self storage facility in Fayetteville, North Carolina, on April 1. Located at 5234 Raeford Road, the 105,000 gross square-foot complex offers 808 units ranging in size from 5×5 to 10×20. The complex will address an acute need for climate-controlled self storage…

Recent Transactions: 03.21.2023 – 03.27.2023

Property: A-AAA Mini Storage Location: Torrance, CA Brokers and Brokerage: Cameron Vale, and Andrew Plunkett of Berkshire Hathaway NRSF: 17,194 Unit Count: 288 units Property: Eldon Self Storage Location: Eldon, MO Closing Price: $1.5 Million Brokers and Brokerage: Robert Cook, Sean Delaney and David Saverin of Marcus & Millichap Highlights: 6.2 sq/capita of storage in a 3-mile radius This deal includes a long-term warehouse lease with new 3-year extension The building features all steel structures, security cameras, and lighting throughout Property: CHR Storage and Rentals Location: Gaffney, SC Broker and…