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West Coast Self-Storage Opens Storage Facility in NE Portland

West Coast Self-Storage announced today that it has opened its newest storage facility in Portland, Oregon. The facility is named West Coast Self-Storage Halsey and is located at 1530 NE 67th Ave near Halsey Blvd in the Madison South neighborhood of NE Portland. The storage facility has 643 storage units encompassing 53,375 square feet of storage space. The facility features interior heated storage units ranging from 5 x 5 to 10 x 30. It also features drive-up accessible units in a range of sizes from 10 x 10 up to…

Smartstop Self Storage Announces 22nd Property in the Greater Toronto Area

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced today that it has increased its owned and managed Canadian self storage portfolio to 22 locations. The 22nd property in the portfolio is the newly developed facility located in the Town of Aurora in the Greater Toronto Area of Ontario. Located at 87 Goulding Avenue, the approximately 94,000-square-foot facility is a joint venture development with SmartCentres. The new Class A, four-story climate-controlled facility includes approximately 890 units and is well-situated across from…

Recent Transactions: 12.27.2022 – 01.02.2023

Property: Big League Storage Location: Magnolia, TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: 10F Pursuit, LLC Seller: Big League Enterprises, LLC NRSF: 22,800 Unit Count: 129 Property: FM 812 Storage Location: Del Valle,TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: ATX FM 812 Storage, LP NRSF: 43,250 Unit Count: 257 Property: CubeSmart Self Storage Closing Price: $11 Million Location: Moncks Corner, SC Brokers and Brokerage: Ian Lindahl and Adam Schlosser of the LeClaire-Schlosser…

NexPoint Storage Partners Acquires SAFStor to Expand Self Storage Portfolio

NexPoint Storage Partners, Inc., a self storage platform affiliated with NexPoint Advisors, today announced that it became the sole owner of 29 new, well-located and high-quality self storage properties developed by SAFStor. The acquisition brings NexPoint Storage to a total asset value of approximately $1.7 billion with 71 wholly owned and operating properties and one additional property expected to open in February 2023. The SAFStor acquisition continues the strong execution of our strategy to own the newest and highest quality self storage portfolio in the United States and provides us…

Hampton, VA

Using the Market Discovery Tool from StorTrack’s Explorer product, we identified Hampton, an independent city in Virginia and part of the Virginia Beach-Norfolk-Newport News, VA-NC MSA. Hampton is also home to Hampton University, a university with a student population of 3,500. Current Supply There is 7.13 square feet per capita in this market. For comparison, Virginia’s square footage per capita is 7.38. Of the 17 self storage stores currently operating in Hampton, seven are REITs. There are currently no planned development projects in this market, though there are 89 active…

Public Storage Reopens High-Tech Facility in Silicon Valley

Public Storage recently reopened its facility adjacent to offices of Apple Inc in Cupertino, CA after completing an expansion and major high-tech upgrades. The facility at 20565 Valley Green Drive, now has two five-level buildings and grew from 51,000 square feet to 195,000 square feet. The number of units has jumped from 585 to 2,593. The facility offers contactless app-enabled digital property access and account management. The remodeled facility is now able to achieve LEED Silver status with the addition of sustainable features such as solar panels and LED lighting.…

Recent Transactions: 12.13.2022 – 12.19.2022

Property: Tiger Town Storage Location: Opelika, AL Broker and Brokerage: Kris Knowles of Midcoast Properties, Inc NRSF: 51,975 Acreage: 5.8 Unit Count: 327 Highlights: Standard drive-up and climate-controlled units 24- hour digital surveillance Fencing and electronic keypad gate access U-Haul truck rentals Property: Newly Constructed Self Storage Facility Location: New Rochelle, NY Brokers and Brokerage: Dustin Stolly and Jordan Roeschlaub of Newmark Buyer: Maya Capital Partners and Artemis Real Estate Partners NRSF: 96,693 Unit Count: 1,120 Property: Pines West Storage Center Closing Price: $17 Million Location: Pembroke Pines, FL Buyer:…

Newmark Arranges $300 Million Self Storage Joint Venture with Maya Capital Partners and Artemis Real Estate Partners

Newmark announces that the firm has arranged a $300 million programmatic joint venture between Maya Capital Partners and Artemis Real Estate Partners focused on high-quality value-add self storage assets in the Northeastern United States. The Newmark team was led by Vice Chairmen and Co-Heads of the Debt & Structured Finance team Dustin Stolly and Jordan Roeschlaub. Transactions will comprise both marketed and off-market acquisitions of high-quality value-add properties and certificate of occupancy lease-up plays with the goal of creating a diverse portfolio of assets. The Venture was seeded by the…

The Year Ahead in Storage

In this educational video chat, we’re joined by industry veterans Mike Mele of Cushman & Wakefield, Shawn Hill of the BSC Group and Liz Schlesinger of Merit Hill Capital to discuss predictions for 2023. Storage has had a great couple of years but what can we expect with changing interest rates and decreasing occupancies? This group offers insights on the how the industry is transforming, development activity, market evaluation strategies and much more. Where is the self storage sector headed in 2023? Tune in to find out!

Recent Transactions: 12.06.2022 – 12.12.2022

Property: Savannah HWY6 Storage Location: Rosharon, TX Brokers and Brokerage: Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL Buyer: Montfort Capital Partners Seller: Quintet Capital Group Acreage: 6.1 Unit Count: 678 Property: Stafford, VA Self Storage Facility Location: Stafford, VA Buyer: Arcland Property Company Acreage: 7.21 Unit Count: 943 Highlights: Climate-controlled and drive-up storage units On-site manager 24-hour video recording Elevator-accessible units Property: Champion Storage Location: Sheboygan, WI Broker and Brokerage: Sean Delaney of Marcus & Millichap Buyer: Rogers Equity Group IV, LLC Seller: JGSS, LLC NRSF:…