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Using Data to Drive Self-Storage Acquisitions

As a real estate investor, incorrectly identifying a deal can potentially cause catastrophic losses, while proper identification of a deal can set you up for long-term success and wealth creation. In a competitive marketplace, real estate investors must combine a boot-on-the-ground qualitative analysis with data-driven quantitative research. It is the combining of these two approaches that paints the most complete picture allowing for additional insight to how a property may perform. Gone are the days of information asymmetry where the seller always had more information than the buyer. Technology has…

StorageMart Expands Footprint with Lexington, KY Storage Facility

Following a $2.7 billion enterprise valuation and backing by Bill Gates’ Cascade Investment LLC and GIC, the sovereign wealth fund of Singapore, StorageMart enters the Lexington, Kentucky market. Located at 121 James Court in Lexington, KY, the former Local Self Storage facility is the latest acquisition in a period of rapid and strategic expansion into new markets and the fortification of established strongholds. Like all StorageMart acquisitions, the property will be upgraded to deliver on the StorageMart brand promise of easy, clean, well-lit self storage products and award-winning customer service.…

Urso Family Realty Sells Fort Lauderdale Warehouse for $11 Million

An entity tied to a West Coast shipping company bought a Fort Lauderdale warehouse for $10.6 million. Records show the buyer, led by Andrew Naumov, an executive of Richmond, California-based West Coast Shipping, bought the property at 6001 North Powerline Road from Urso Family Realty. The buying entity, 6001 Powerline LLC, secured a $5 million mortgage as well as an $8.6 million mortgage on the property from First-Citizens Bank and Trust Company, records show. The 311,890-square-foot warehouse was built in 1970 on 3.6 acres, according to property records. Urso Family…

Montfort Capital, Blue Vista Buy 909-Unit Self-Storage Facility in San Antonio

A joint venture between Dallas-based self storage investment firm Montfort Capital Partners and Blue Vista Capital Management has purchased A3 Storage Centers, a 909-unit facility in San Antonio. The property was built on 3.7 acres in 2007. Jon Danklefs of Marcus & Millichap represented the joint venture in the transaction. Additional terms of sale were not disclosed. With this acquisition, Montfort Capital Partners now owns seven self storage assets in Texas. Source

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…

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…

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…

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…

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…