Recent Transactions: 7.30.2024 – 8.05.2024

Property: Bear Valley RV Park and Self Storage (managed by Right Move Storage)
Location: Hesperia, CA
Address: 18435 Bear Valley Rd Hesperia, California
Year Built: 1996
Buyer: Merit Hill Capital (Real Estate Investment Firm in Brooklyn, New York)
Broker and Brokerage: Brian Somoza of The JLL Capital Markets Self-Storage team of JLL
Acreage: 49.6 acres
Unit Count: 726 units
Occupancy: 87%
VPD: 52,500 Vehicles Per Day
Highlights:

Consists of a mixture of single-story
Permanent structure
RV parking units
Surface parking units
Portable storage units
Electronic gate access
24-hour video surveillance
Climate-Controlled Units
On-site office

Portfolio: Morningstar Storage (Two Property Portfolio)
Locations: Richmond, VA and Asheville, NC
Address1: 1716 East Cary Street in Richmond, Virginia
Address2: 6 Long Shoals Road in Arden, North Carolina
Seller: Morningstar Properties
Brokers and Brokerage: Charles “Chico” LeClaire, Adam Schlosser, Brian Hosey and Benjamin Yelm of The LeClaire-Schlosser Group of Marcus & Millichap
NRSF: 112,707
Unit Count: 1033 units
Highlights:

24-hour video monitoring
Secure digital access
Institutional style leasing offices

Property: Stallion Storage
Location: New Caney, TX
Year Built: Constructed in two phases between 2020 and 2022
Brokers and Brokerage: Dave Knobler and Mixson Staffel, Charles “Chico” LeClaire of The LeClaire-Schlosser Group of Marcus & Millichap
Acreage: 4.6 acres
Square Feet: 49,635
Unit Count: 178 units
Highlights:

Seven single-story self-storage buildings
28 outdoor parking spaces in the unit mix
Gated entry with a digital keypad
On-site management office
24/7 video surveillance throughout the facility
Concrete entrance
Road base driveways with crushed concrete
Units with roll-up doors

Property: Eason Storage
Location: Canton, TX
Address: 17546 FM 17 Canton, Texas
Year Built: 2000
Year Expanded: 2017
Brokers and Brokerage: Cunningham and Brandon Karr of the Karr-Cunningham Storage Team of Marcus & Millichap
Acreage: 4.78 acres
NRSF: 39,265
Unit Count: 229 units (20 climate-controlled units,208 non-climate drive-up units, and one rental house)

Property: CubeSmart Self Storage (Managed)
Location: Roanoke, VA
Address: 4146 Melrose Ave NW, Roanoke, VA 24017
Brokers and Brokerage: Frank DeSalvo & David Perlleshi oof Franklin Street
NRSF: 48,316
Buyer Testimonial: “The team at Franklin Street provided an outstanding level of service throughout the purchase of our self-storage facility. Their market knowledge, negotiation skills and commitment to achieving the best outcome were instrumental in ensuring a successful transaction for us. They are highly recommended and possess great market expertise.”

Property: American Mini Storage
Location: Memphis, TN
Closing Deal: $2.4 Million
Year Built: 1999
Buyer: 7399 US Highway 64 Holdings LLC (an entity affiliated with LNR Partners LLC)
Seller: Glankler Brown P LLC
Acreage: 5.3 acres
NRSF: 85,390

Property: Self Storage Facility (CubeSmart managed)
Location: Worcester, MA
Closing Deal: $13.3 Million
Finance by: Marc Tropp of Eastern Union
Loan Term: 36-month term
Loan-To-Value Ratio: 65%
Interest Rate: equivalent to 300 basis points over SOFR over the construction and lease-up period
NRSF: 93,186
Unit Count: 931 units

Property: Delray Beach Self-Storage
Location: Delray Beach, FL
Closing Deal: $26.5 Million
Buyer: Silver Star REIT
Square Feet: 81,370
Unit Count: 907 units