The latest self-storage transactions showcase diverse investment strategies, with buyers targeting high-growth metros and secondary markets with strong fundamentals. Some acquisitions offer value-add potential, such as a multi-property portfolio in Arkansas slated for significant upgrades. Others are driven by strategic positioning, like a facility in Georgia benefiting from proximity to key economic hubs and a military base with approved plans for expansion. Meanwhile, an institutional investor’s acquisition of a large, professionally managed facility in Hawaii reflects continued confidence in well-established markets. These deals underscore the sector’s resilience, with investors balancing stability and growth in an evolving landscape.
Property: StorQuest-managed Self-Storage Facility
Location: Kea’au, HI
Address: 16-180 Mikahala Place, Kea’au, Hawaii
Buyer: Baranof Holdings
Brokers and Brokerage: Charles LeClaire, Adam Schlosser and Adam Attia The LeClaire-Schlosser Group of Marcus & Millichap
NRSF: 77,363
Unit Count: 879 units
Property: Self-Storage Facility
Location: Dallas, TX
Address: 8110 S Cockrell Hill Road, Dallas, Texas
Buyer: Strategic Storage Growth Trust III, Inc. (sponsored by an affiliate of SmartStop Self Storage REIT, Inc.)
NRSF: 73,900
Unit Count: 690 units (offering a mix of drive-up and climate-controlled interior units)
Highlights:
- The property was acquired by SSGT III in a Delaware Statutory Trust
- The property consists of nine single-story buildings and one two-story building with elevator access
Property: Edgewood Grove Storage
Location: Somerset, Pennsylvania
Year Built: in phases beginning in 1997
Brokers and Brokerage: Jared Houck, Kevin Bledsoe and Matthew Junkin of Marcus & Millichap
NRSF: 35,100
Unit Count: 265 units
Highlights:
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The property also features a residential component of seven houses and five apartments
Portfolio: Three Self-Storage Properties
Locations: Bentonville, Rogers and Springdale, Northwest Arkansas
Year Completed: 1999
Buyer: Spartan Investment Group
NRSF: 323,780
Unit Count: 1,890 units
Acreage(Bentonville): 3 acres
NRSF (Bentonville): 39,450
Unit Count (Bentonville): 269 units
NRSF per Capita (Bentonville):10.5
Acreage (Rogers): 10 acres
Square Feet (Rogers): 158,630
Unit Count (Rogers): 845 units
NRSF per Capita (Rogers):23.2
Acreage (Springdale): 08 acres
NRSF (Springdale): 125,700
Unit Count (Springdale): 776 units
NRSF per Capita (Springdale): 16.8
Highlights:
- All three facilities have been operating under the Extra Space Storage brand
- The new ownership is slated to invest more than $1 million in upgrades
- The company plans to purchase 25 facilities and develop 25 new projects this year
- The Bentonville property consists of six one-story buildings and unit sizes range from 25 to 100 square feet
- The Rogers property consists of 13 single-story buildings and unit size ranges between 50 and 360 square feet
- The Springdale property consists of 15 one-story buildings and unit size ranges between 50 and 300 square feet
Property: Turner Field Self Storage
Location: Albany, GA
Brokers and Brokerage: Sean Ruhlman and Zachary UrowUrow Real Estate in collaboration with Scott Reid of ParaSell, Inc., [a licensed Colorado real estate brokerage (#EC.100085004)]
Acreage: 8.6 acres
NRSF: 41,820
Unit Count: 352 units
Highlights:
- Solid Demographics: Population of 101,942 Residents with a Median Household Income of $54,188 in a 10-mile Radius
- Strong Occupancy: 61.9% Physical Occupancy, With Current Rates Significantly Below Market Rental Rates
- Strategic Location Advantage: Convenient Access to Key Areas Such as Baconton, Putney, and Radium Springs. Proximity to major landmarks like the Marine Corps
- Logistics Base, Albany State University, and the Liberty Expressway Enhances the Appeal for Both Personal and Business Storage Needs
- Differentiated Product: As the Only Class A Facility Within a 5-Mile Radius, and with a Limited Supply of CC Unnits Within the Area, Many Tenants are Pulled from Outside of the 5-Mile Radius. The Supply Stands at 6.4 NRSF Per Capita in the 5-Mile Radius of the Property
- Expansion Opportunity: Approved Plans for 89,870 Gross Square Feet Totaling 5 Additional Buildings. Full Build Out of Approximately 109,000 NRSF and 8 Total Buildings
Portfolio: US Storage Centers Portfolio (a seven-property self-storage portfolio)
Locations: Texas, Tennessee, Florida and Arizona
Address1: 8110 South Cockrell Hill Road, Dallas, Texas
Address2: 7905 Spencer Highway in Pasadena, Texas
Address3: 3701 FM 2181 in Corinth, Texas
Address4: 1323 NW Broad Street, Murfreesboro, Tennessee
Address5: 460 Florida Central Parkway, Longwood, Florida
Address6: 6707 Narcoossee Road, Orlando, Florida
Address7: 4860 North 83rd Avenue, Phoenix, Arizona
Buyer: Strategic Storage Growth Trust III, Inc. (sponsored by an affiliate of SmartStop Self Storage REIT)
Brokers and Brokerage: Adam Schlosser, Charles “Chico” LeClaire, Tim Speck, Jody McKibben, Ryan Nee, and Ryan Sarbinoff of The LeClaire-Schlosser Group of Marcus & Millichap
Unit Count (Combined): 4,886 units
NRSF: 585,165
Property: Everett Street Storage
Location: Middleborough, MA
Year Built: 2017
Brokers and Brokerage: Nathan Coe, Gabriel Coe and Brett Hatcher of The Hatcher Coe Group of Marcus & Millichap
Acerage: 2.5 acres
NRSF: 18,710
Unit Count: 181 units (21 climate-controlled units, 140 non-climate-controlled units, two offices and 18 parking spaces)
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