Category: Recent Transactions

Strategic Storage Trust VI, Inc., a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today the acquisition of approximately 2.7 acres of land in the Weston neighborhood of Toronto, Ontario, Canada in a joint venture partnership with SmartCentres.  The land will serve as the development site for an approximately 1,200-unit self storage facility. Located at 1480 Jane Street, the planned six story facility is expected to encompass nearly 99,000 net rentable square feet of 100% climate-controlled self storage with a mix of…

Self storage developer InSite Property Group has acquired a 102,500-square-foot development site at 59-02 Borden Avenue in Maspeth, Queens from Home Depot for $18 million, according to city records. The sale represents a piece of a larger lot, which had been the site of a Coca-Cola bottling plant, that Home Depot bought for $63 million in 2018 to build a store. The home improvement company had announced plans to build a six-story self storage building on its own last year, but the project became a source of contention for Queens…

A vacant lot at the corner of Central Avenue and National Road that used to house a Kroger supermarket has been sold to an Indianapolis-based company that plans to convert the grocery store building into a self storage facility. On March 2, Tiptonia Partners LLC, located at 6440 Westfield Blvd. in Indianapolis, purchased the property for $3.6 million, nearly five months after the Columbus Board of Zoning Appeals approved the use of the property for a self storage facility, according to city and county records. In a conditional use application…

SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company with approximately $1.7 billion of self storage assets under management, today announced the acquisition of a recently built six-story self storage facility in Oakville, Ontario, Canada. The property was completed in April 2020 and was approximately 35% occupied at acquisition. This is SmartStop’s 17th owned or managed location in the Greater Toronto Area (GTA) and 153rd property in North America. The six-story facility is located at 450 Iroquois Shore Rd in the Oakville community, one of the GTA’s…

Following a $2.7 billion enterprise valuation and backing by Bill Gates’ Cascade Investment LLC and GIC, the sovereign wealth fund of Singapore, StorageMart enters the Lexington, Kentucky market. Located at 121 James Court in Lexington, KY, the former Local Self Storage facility is the latest acquisition in a period of rapid and strategic expansion into new markets and the fortification of established strongholds. Like all StorageMart acquisitions, the property will be upgraded to deliver on the StorageMart brand promise of easy, clean, well-lit self storage products and award-winning customer service.…

An entity tied to a West Coast shipping company bought a Fort Lauderdale warehouse for $10.6 million. Records show the buyer, led by Andrew Naumov, an executive of Richmond, California-based West Coast Shipping, bought the property at 6001 North Powerline Road from Urso Family Realty. The buying entity, 6001 Powerline LLC, secured a $5 million mortgage as well as an $8.6 million mortgage on the property from First-Citizens Bank and Trust Company, records show. The 311,890-square-foot warehouse was built in 1970 on 3.6 acres, according to property records. Urso Family…

A joint venture between Dallas-based self storage investment firm Montfort Capital Partners and Blue Vista Capital Management has purchased A3 Storage Centers, a 909-unit facility in San Antonio. The property was built on 3.7 acres in 2007. Jon Danklefs of Marcus & Millichap represented the joint venture in the transaction. Additional terms of sale were not disclosed. With this acquisition, Montfort Capital Partners now owns seven self storage assets in Texas. Source

Josh Koerner and Frost Weaver, of Weaver Realty Group, are pleased to announce the sale of Coral Springs Self Storage Development Site, located at the intersection of Coral Ridge Dr and NW 41st Street in Coral Springs, FL. Weaver Realty represented the seller in the transaction and the sale closed in March of 2021. The property is located on 1.140 acres and includes site plan approval for a 106,586 GSF in an eight-story self storage building. Weaver Realty has been the Argus Self Storage Advisor Affiliate since 1999 covering the…

Merit Hill Capital purchased Good Spot Storage, a 30,013-square-foot self-storage facility at 3735 Mangum Road in northwest Houston. Dave Knobler and Chico LeClaire of Marcus & Millichap brokered the sale. 

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Extra Space Storage (managed), a 72,166-square-foot self storage facility located in Chicago Heights, Illinois, according to Grant Fitzgerald, Regional Manager of the firm’s Columbus office. Gabriel Coe and Brett R. Hatcher, investment specialists in Marcus & Millichap’s Columbus office and Sean M. Delaney, investment specialist in Marcus & Millichap’s Chicago Oakbrook office had the exclusive listing to market the property on behalf of the seller, a limited liability…