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In this installment of Coffee & Conversation, Ben Vestal of Argus Self Storage Advisors discusses operational and transactional trends along with predictions for 2021. He provides insight on the proposed tax changes, recent new entrants and a strategy for selling within the next year.
The LeClaire-Schlosser Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Minikahda Storage and Excelsior Tech Center, a multi-story mixed-use facility with 186,777 net rentable square feet located in Hopkins, Minnesota. Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office, and Chris Kampmeyer, Investment Associate, in the firm’s Minneapolis, Minnesota office had the exclusive listing to market the property…
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of I-20 Ranch Self Storage, a 55,956-square foot self storage facility located in Longview, Texas, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office. Brandon Karr, Senior Vice President Investments, and Danny Cunningham, First Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the sellers, a family operation based…
Coffee and Conversation is a place where industry experts can discuss topics related to acquiring or selling self storage facilities. These pre-recorded video chats are conveniently accessible for you to view anytime and anywhere. The topic of this installment is What You Should Know About Third-Party Management. Viewers will learn: How to select the right management company What reporting to expect Revenue optimization strategies What to anticipate throughout the pandemic Pull up your chair with a “cup of Joe” and enjoy this informal yet educational discussion on third-party management considerations.
For the first time in my 15+ year history at Argus I find myself wondering why self storage values are growing at such a rapid pace. With all of the hype surrounding self storage it’s worth contemplating; is this as good as it gets? We’ve been talking about the uncertainty of this self storage valuation boom for 10+ years now, including how long it will last and the impacts of major driving factors such as interest rates, new development, consumer and demographic trends and overall market fundamentals. For now, all…
Ken is the principle broker and owner of Northstate Commercial Partners. Having been in the business for over 30 years and developed friendships and professional associations across the state and the country, Ken prides himself less on what he knows and more on who he knows. With affiliations in the Society of Industrial and Office Realtors (SIOR) and the International Council of Shopping Centers (ICSC), Ken has built a network of trusted colleagues across all geographic regions and product types that continue to feed real estate and development leads his…
Brandy Rundel specializes in commercial real estate in Northern California. Her success and principal focus is retail development, landlord representation and shopping center leasing. She works with many local, regional, national retailers and has over 20 years of experience leasing open-air power centers, neighborhood and mixed-use developments. Prior to joining Northstate Commercial Partners, Brandy spent much of her career preleasing retail shopping center developments while working for commercial developers Sooner Investment and Collett & Associates based in Charlotte, North Carolina. Most recently, she leased and managed an established lifestyle center…
The LeClaire-Schlosser Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of StorageBay Rexburg, a 12,652 square foot storage facility located in Rexburg, Idaho. Jordan Farrer, Investment Associate, in the firm’s Salt Lake City office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office procured the Buyer. “Through a number of conversations with the owners, we knew the family was looking to move on from the property and…
Merit Hill Capital purchased Good Spot Storage, a 30,000 square foot, self storage facility at 3735 Mangum Rd., as reported by BizNow. Marcus & Millichap’s Dave Knobler marketed the property on behalf of the seller, a private investor. Source
A 1-acre industrial property in Bella Vista changed hands recently for $800,000. Shaw Property Holdings LLC, managed by James Shaw, bought the Bella Vista Central Storage self storage facility at 687 Rogers Road. BV Central Storage, managed by Zack Quick, was the seller. Arvest Bank provided financing with a five-year, $640,000 loan. City Title & Closing was the title agent. Zack Kifer with Newmark Moses Tucker Partners represented the seller. Josh Singleterry with Newmark Moses Tucker Partners represented the buyer. The 85-unit facility includes multiple buildings totaling 13,886 square feet…