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2022 Closing Highlights from Bank Five Nine

As the second largest SBA 504 lender, Bank Five Nine can offer aggressively low rates for your self storage opportunity. Bank Five Nine’s 2022 closing highlights include: Deal Size: $14 Million LTC: 90% Financing Location: Utah Lender: Nick Collins Program: Combination of SBA 504 and SBA 7a for interest carry and start-up costs Details: 118,200 NRSF New self storage development Deal Size: $4 Million LTC: 85% Financing Location: Tennessee Lender: Nick Collins Program: Combination of SBA 504 and SBA 7a for interest carry and start-up costs Details: 36,800 NRSF New self…

Recent Transactions: 01.24.2023 – 01.30.2023

Portfolio: Franklin Ohio Self Storage Location: Franklin, OH Brokers and Brokerage: Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 48,588 Unit Count: 336 Highlights: Two self storage facilities approximately 1.5-miles apart Growing surrounding population: the population has increased by 16% since 2000 within a five-mile radius Property: U-Stor-It Location: Albuquerque, NM Brokers and Brokerage: Jesse Cameron, Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 55,625 Unit Count: 483 and four outdoor parking spaces Physical Occupancy:…

Investors Pour Billions Into Private Self Storage Funds

Looking for a recession-resistant place to put your money during these turbulent times? Better get in line. Recently two real estate funds announced that they had exceeded their fundraising goals, each closing with ten-figure sums with which to buy storage properties across the United States. Largest fund in self storage history Saratoga Springs, NY-based Prime Group Holdings announced that it has raised the industry’s largest private fund for investing in self storage assets. The private equity firm and self storage operator closed its Prime Storage Fund III LP at a…

Morningstar Secures $65.8 Million to Purchase Three Newly Built Facilities

First Citizens Bank announced that its Middle Market Banking business provided a total of $65.8 million in financing for affiliates of Morningstar Properties, an investor in and operator of self storage facilities, marinas and other specialty real estate assets. The money was used for Morningstar’s purchase of three newly built self storage properties that will operate as Morningstar Storage. The portfolio includes a 105,000 square-foot facility in Henderson, NV (above); a 141,000-square-foot self storage site off Eldridge Parkway in Houston, TX; and a 151,000-square-foot site off South Voss Road in…

Arcland Property Company and Self Storage Plus Open Class A Storage Facility in Randallstown, MD

Arcland Property Company, a leading developer and owner of self storage in the mid-atlantic region, has brought another Class A self storage facility to Maryland. The facility will be managed by Self Storage Plus, which marks the 31st property in Maryland for the property management platform. We are ecstatic to add another well designed Class-A facility to suburban Baltimore.” Within one mile of two shopping centers, the facility boasts visibility from 30,000 cars a day, making it an ideal investment for Arcland. “We are ecstatic to add another well designed…

Recent Transactions: 01.17.2023 – 01.23.2023

Property: Kennedy Self Storage Location: McKees Rocks, PA Brokers and Brokerage: Gabriel Coe, Luke Dawley, Brett Hatcher and Nathan Coe of the Hatcher Coe Group of Marcus & Millichap NRSF: 26,725 Unit Count: 157 non-climate controlled units plus three additional units Physical Occupancy: 100% Highlights: Located in Pittsburgh MSA self storage facility Under ten miles from Pittsburgh International Airport, Heinz Field, PNC Park, PPG Paints Arena and Duquesne University Dense surrounding population: 157,430 people living within a five-mile radius Property: Master Key Storage Location: Sweetwater, TN Brokers and Brokerage: John…

2022 Closing Highlights

Closings from the National Self-Storage Advisory Group of Cushman & Wakefield: Portfolio: Tuck It Away Storage (REIT Managed) Three-Property Portfolio Sale Date: July 2022 Location: New York, NY Square Footage: 154,592 Unit Count: 3,665 Portfolio: CubeSmart Palm City Two-Property Portfolio Sale Date: April 2022 Location: Palm City, FL Square Footage: 24,131 Property: San Antonio, TX Self Storage Sale Date: June 2022 Location: San Antonio, TX Square Footage: 91,909 Unit Count: 1,086 Acreage: 2.0 Year Built: 2020 Overall National Self-Storage Advisory Group of Cushman & Wakefield highlights: Over $1.8 billion in…

Bellevue, WA

Using the Market Discovery Tool from StorTrack’s Explorer product, we identified Bellevue, a city located across from Seattle on Lake Washington in Washington. With over 100 parks, Bellevue is known as “a city in a park” though it is still the fifth largest city in the state. Current Supply At 5.77 square feet per capita and with a population anticipated to grow to 156,728 by 2025 (up 7.24% since 2020), the city could potentially tolerate new supply. New Supply Public Storage is currently developing their seventh facility in Bellevue, a…

Recent Transactions: 01.10.2023 – 01.16.2023

Portfolio: Eight-Property East Texas Self Storage Location: Dallas-Fort Worth Metroplex and East Texas Broker and Brokerage: Brandon Karr of Marcus & Millichap Buyers: LandPark Co. and Sunset Capital JV NRSF: 236,009 Unit Count: 1,440 Highlights: Eight facilities, comprised of 11 individual parcels, located in five different counties Exposure in Dallas-Fort Worth Metroplex (4th largest market in the US) Operational efficiencies available via management consolidation Portfolio: AmeriStorage Four-Property Portfolio Location: Andover, OH as well as Edinboro, Meadville and Saegertown, PA Brokers and Brokerage: Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel…

What to Know about Boat and RV Storage

In this video chat, we are joined by Greg Ellsworth of Self Storage Consulting Group, Amy Bix of Toy Storage Nation and Terry Anderson of Tenant Property Protection to discuss nuances of the boat and RV storage sector. We’ll cover site selection, differentiators between class A, B, C and D facilities, development considerations and insurance concerns. Additionally, you’ll learn about how this tenant base varies from traditional storage customers with their expectations and tolerance for price increases. Tune in to learn about the booming boat and RV industry or read…