Category: Recent Transactions

Transactions captured in last week’s roundup reflect investment activity across markets with notably different fundamentals. Several deals involved assets with clear operational upside, even in markets with relatively high supply. Big Bass Storage in Greenville, a 2024 build still in lease-up, was marketed with below-market rents. J&J Mini Storage in Fallon was 76% occupied, with lease-up and revenue-management potential. The CubeSmart-managed facility in Longview was positioned as a value-add acquisition. Those markets carry 11.4, 32.7, and 17.0 square feet per capita (SF/capita), respectively, suggesting investors are still pursuing higher-supply markets…

Portfolio activity stood out this week, with five of the nine transactions involving multiple properties across Oregon, Texas, Washington, Maryland and Michigan. Together, those deals account for 20 facilities, reflecting portfolio activity across geographically and fundamentally different markets. Institutional capital was represented by Ares Real Estate Fund’s acquisition of the two-property Rockville, MD portfolio. Separately, three Extra Space-branded or managed assets changed hands in Phoenix, Vero Beach and Malden, MA. However, the transactions reflect changes in property ownership rather than acquisitions by Extra Space itself. The underlying markets reveal just…

This week’s transactions illustrate how local market fundamentals can tell a very different story than headline supply metrics. Despite very different supply conditions, each of these markets offers characteristics that help explain why investors continue to pursue opportunities there. Burke Storage in Morganton, NC appears, at first glance, to be in an oversupplied market, with nearly 12 square feet per capita across 17 facilities, two more developments planned within the same five-mile trade area, and little projected population growth. Yet pricing tells a different story. Walk-in rates increased 2.6% over…

The week’s 14 transactions reflected the breadth of today’s acquisition market, underscoring continued investor demand across a wide range of investment profiles. The deals spanned newly delivered Class A facilities, adaptive reuse projects, hybrid self-storage and vehicle parking assets, boat and RV storage, and value-add portfolios. Extra Space-branded facilities featured prominently in four transactions, including an adaptive reuse conversion of a former K-Mart anchor in Scranton that illustrates the continued appeal of repurposing underutilized retail into self-storage. Extra Space acquired Class A facilities in Puyallup and Melissa, Texas, with the…

Eight self-storage transactions closed across seven states this past week, highlighting continued buyer interest across a diverse mix of markets and investment profiles. California and Florida produced several of the week’s most notable trades, led by U.S. Storage Centers – La Habra, which sold for $15.6 million in a dense North Orange County submarket, where high barriers to new development help support the week’s highest advertised rate of $2.31/SF. Sarasota presented a different kind of rarity: only the sixth self-storage transaction involving a Sarasota-addressed property in the past five years,…

Eighteen self-storage transactions closed across nine states between July 1 and July 12, led by Texas. Deals ranged from South Padre Island’s tourism-supported demand to Monahans’ proximity to the Midland-Odessa employment corridor. Portfolio sales added much of the week’s scale, led by a two-property Louisiana portfolio in Woodworth and Pineville, Highline Storage Partners’ two-facility Georgia acquisition, the four-site South Padre Island package, and the five-location Double D portfolio in Monahans. Larger-platform buyers were active as well: Public Storage picked up a newly built, high-visibility San Antonio asset; Blue Vista Capital…

Self-storage sales last week highlighted a clear split between scarcity-driven pricing power and execution-driven upside. Washington, DC, and Jefferson Valley, NY, anchored the high-barrier end of the spectrum: the DC asset operated in a market with just 3.90 SF per capita and the week’s highest walk-in rate at $3.46/SF, while Jefferson Valley paired affluent Westchester County demographics with limited nearby competition and $2.45/SF walk-in rates. Meanwhile, the Denver MSA portfolio offered a different version of demand, pairing stabilized in-place cash flow with exposure to two distinct suburban markets: Arvada, a…

Thirteen deals closed last week, led by a heavy concentration of Texas activity in Elgin, Spicewood, Austin, and New Braunfels, as well as portfolio sales in the Virginia Beach MSA and Southern California. The transactions covered a wide range of opportunity types, from Sundance Bay’s Austin acquisition, which plans to add 26,475 square feet of indoor climate-controlled space; Snow Creek Group and Outwest Investments’ Poncha Springs, CO, an 11.5-acre asset with self-storage and outdoor storage components at a key highway interchange; and Turnbull Equity’s two-property California pickup also stood out,…

This week’s self-storage activity covered eight properties across five states – Michigan, California, Texas, Arizona, and Florida – with deals ranging from a small rural facility in Texas to Extra Space Storage’s acquisition of an infill asset in one of the week’s highest-rate markets. In Sacramento, 9th & X Self Storage may be modest in size at 19,300 square feet, but its location tells the larger story: the market’s $1.97/SF walk-in average and $2.10/SF climate-controlled rate were the strongest among this week’s transactions, supporting the appeal of well-located West Coast…

Recent transaction activity demonstrated that buyers continue to target self-storage assets with appealing local demand fundamentals. Of the six deals, three were portfolio sales, including two properties in the Denver metro totaling 155,000 NRSF and 1,800 units, and two assets in South Carolina’s coastal markets. The remaining three were single-asset transactions in State College (PA), Rochester (MN), and The Colony (TX). Market data points to a range of fundamentals behind the activity. In the three single-asset deals, solid demand is supported by the presence of institutions or employment centers that…