Recent self-storage deals show that investors remain confident in the sector, especially in the South. A 21-property, multi-state portfolio sale spanning markets such as Houston, Austin, Atlanta, and Charlotte reflects ongoing optimism in a region that has seen heavy development and investment activity. Even as some areas show signs of oversaturation, strong population growth and solid demand forecasts continue to make these markets attractive. Meanwhile, a two-facility sale in suburban Minnesota highlights steady interest in smaller, stable assets with value-add potential. Overall, investors appear focused on balancing long-term growth opportunities in high-demand regions with operational upside in secondary markets.
Property: Dry Dock & Lock
Location: Aledo, Texas
Address: 1801 FM 1187., Aledo, Texas
Year Built: 2019
Brokers and Brokerage: Danny Cunningham, Brandon Karr and Jon Danklefs of Marcus & Millichap
Acreage: 11.99 acres
NRSF: 158,720
Unit Count: 389 units (317 covered parking spaces, 34 non-climate drive-up units and 38 uncovered parking spaces)
Portfolio: 21 Self Storage Assets
Location: Across Texas, North Carolina, South Carolina, Florida, Georgia, Virginia and Arkansas, with some 70% of the properties in major metropolitan cities such as Houston, Austin, Atlanta and Charlotte, North Carolina
Buyer: Morningstar and Harrison Street (formed a joint venture for the ownership)
Square Feet: 1.3 million
Unit Count: 10,800 units
Highlights:
- The portfolio was 90% occupied at the time of the sale
- The portfolio includes a 76,052-square-foot Morningstar Storage in Charlotte, N.C., and a 68,651-square-foot facility, under the same brand name, in North Austin, Texas
- Featuring RV and Boat parking, the five-story Charlotte property is one of the 21 storage facilities within a 3-mile radius
- The four-story Austin property includes gated access and is one of the five storage properties within a 3-mile radius
Portfolio: Two Self-Storage Properties
Locations: Mound and Orono, Minnesota
Address Location 1: 5300 Shoreline Drive, Mound, Minnesota
Address Location 2: 2725 Wayzata Blvd., Orono, Minnesota
Closing Deal (Combined): $26.5 Million
Closing Deal Location 1: $13.5 Million
Closing Deal Location 2: $13 Million
Buyer: Avenue Living Asset Management
Seller: Metro Storage
Year Built Location 1: 1960
Year Built Location 2: 1970
Square Feet Location 1: 78,282
Square Feet Location 2: 69,500
Highlights:
- 24-hour access
- New security and SEO-enabled websites
Property: Advantage Storage Lubbock
Location: Lubbock, Texas
Address: 314 N. Utica Drive, Lubbock, Texas
Year Completed: 2018
Seller: Cross Heritage Storage
Buyer: Michael Postar’s Affordable Storage
Brokers and Brokerage: Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of The JLL Capital Markets Self Storage Team
Acreage: 7.67 acres
Square Feet: 85,890
Unit Count: 540 units
Occupancy: 81%
Highlights:
- Seven-building Class A self-storage facility
- Climate-controlled units
- On-site customer service building
- Drive-up access
- 24-hour video surveillance
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