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SmartStop Self Storage REIT, Inc. Acquires Self Storage Facility in the Greater Toronto Area

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…

Featured Broker: Luke Elliott

Luke Elliott is an executive managing director at Cushman & Wakefield. He is responsible for the private client and mid-market assignments in the firm’s National Self-Storage Advisory Group.  The group represents private clients, institutional investors and other financial institutions, advising them on acquisition tactics and the strategic disposition of self storage assets. Mr. Elliott has partnered with owners for over 20 years, providing advisory and transactional expertise. He is a past-president of the third largest state self storage association and has been recognized as an expert in the self storage…

Argus Broker Affiliates Announce Sale of Florida Self Storage Development Site

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…

The Hatcher Group of Marcus & Millichap Brokers the Sale of North Arlington, NJ Self Storage Facility

This New York City, NY MSA class A self storage facility received multiple competitive offers. Located in an inner suburb of North Arlington, NJ just West of Jersey City, Hoboken, the Lincoln Tunnel and Manhattan, the Extra Space Storage managed property offers 71,160 net rentable square feet throughout 940 total units. With excellent visibility from the Belleville Turnpike, the site opened September 17, 2020. Within 39 days, 60 units were rented due to the undersupplied high barrier to entry market of only 4.10 NRSF of storage per capita.  The $99,841…

Go Store It Acquires New Facility in Clermont, FL

Go Store It has recently acquired an institutional quality self storage located in Clermont, FL a growing suburb of Orlando. This will be Go Store It’s fifth location in Florida. The Vault features 474 units and 60,000 net rentable square feet. It also features an ample amount of parking for cars, Boats, and RV’s. There is also a planned expansion for the facility. “This acquisition presents a unique opportunity for Go Store It and gives us more scale in a target market. There is a big demand for quality storage…

Storage Facility in Chicago Heights Sells

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…

Cannabis and the Self Storage Industry

The year is 1983. You dance your way into the kitchen while enjoying Lionel Richie’s smashing new hit “All Night Long”, pour yourself a nice tall glass of Tang and flip on Good Morning America. Poised front and center is the always classy FLOTUS, Nancy Reagan, and you hear her utter that infamous phrase for the first time, “JUST SAY NO.” This phrase has echoed throughout the decades, but the war on drugs has shifted tremendously since that point in time. All but two states now have some form of…

Public Storage Acquires Rival ezStorage for $1.8 Billion

Glendale, CA-based Public Storage, the world’s largest owner of self-storage facilities, has struck a deal that will make it a little bit bigger. Public Storage announced that the company entered an agreement to buy 48 self-storage locations from Columbia, MD-based ezStorage for a total of $1.8 billion. Public Storage plans to fund the purchase with unsecured debt. The deal is one of the most highly-valued self-storage transactions of all time, eclipsing Blackstone’s $1.2 billion purchase of 101 facilities from Simply Self Storage last year. The deal is also more than…

Jeff Gorden of the Gorden Group Arranges the Sale of 19.5 Acres for RV Storage Development

Jeff Gorden of The Gorden Group/KW Commercial has arranged the sale of 19.5 acres of land in Tucson, Arizona. The parcel sold April 8, 2021. The buyer’s development plan spans just under 20 acres and includes phased development of covered and uncovered RV Storage Spaces. Jeff Gorden represented the buyer. Jeff Gorden shared the following about the sale, “The buyer is an experienced developer of RV Storage and a repeat client of ours. We’ve also done business with this seller on multiple occasions. It was truly a pleasure to work…