The self-storage sector kicked off the month with robust investment activity across diverse markets, from institutional-grade portfolios to specialized niche assets. Significant capital continues to flow into the space, as highlighted by a $71.5 million financing and joint-venture deal for an 18-property portfolio poised for a 70,000-square-foot expansion. Transactions spanned from high-density urban plays in Boston and Utah to expansive boat and RV storage facilities in Texas, reflecting a healthy appetite for both traditional climate-controlled units and specialized vehicle storage. With physical occupancies reaching up to 90% in key regions such as Iowa, the market remains characterized by strong demand and a strategic focus on Class-A management and perimeter security enhancements.
Portfolio: Space Rental (two-property self storage portfolio)
Location: Newton, Iowa
Closing Deal: $2,200,000
Brokers and Brokerage: Nathan Gottlieb, Alex Ihrke, and Tom Flannigan of of Area Storage Advisors, affiliates of Argus Self Storage Advisors
Acreage: 7.93 acres
NRSF: 71,188
Unit Count: 320 units
Occupancy: 90%
Property: Lasoto Business Park and Self Storage
Location: Lancaster, Texas
Address: 1920 I-35E, Lancaster, Texas
Brokers and Brokerage: Bill Bellomy, Logan Foster, Michael Johnson, Hugh Horne, Jackson Randolph and Kirk Silas of Versal
NRSF: 44,940
Unit Count: 265 units
Physical Occupancy: 83%
Economic Occupancy: 73%
Average Household Income: $86,750
Highlights:
- Construction include metal, steel, and concrete construction
- Concrete drives
- On-site office
- Gated access
- Perimeter fencing
- Security features
Property: Towne Storage Vineyard (Eleven single-story buildings)
Location: Orem, Utah
Year Built: 2019
Acreage: 4.46 acres
NRSF: 84,745
Unit Count: 554 units (188 interior climate-controlled units and 366 non-climate drive-up units)
Buyer: Storage Corner Group
Brokers and Brokerage: Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap
Developed and Professionally Managed by: Towne Storage
Property: 2 Property Self-Storage Portfolio (Extra Space Managed)
Location: Boston, Massachusetts
NRSF: 110,000
Unit Count: 1,400 units
Seller: Davis Companies
Buyer: Baronof Holdings & Invesco
Broker and Brokerage: Kenneth Cox of Newmark
Portfolio: 18-property self-storage portfolio
Locations: spanning five cities and two counties
Buyer: Uplift Development Group
Square Feet (Combined): 500,000
Unit Count (Combined): over 3,000 units
Highlights:
- JLL Capital Markets arranged $71.5 million in financing and joint venture equity for the portfolio
- Uplift Development Group plans to apply its “Class-A” property management philosophy to these assets
- Uplift will also be expanding the portfolio by adding over 70,000 square feet of brand-new development
- This expansion will feature premium climate-controlled units
- Fully enclosed boat and RV storage and specialized ski lockers
Property: Ashburn Security Mini Storage
Location: Ashburn, Georgia
Address: 207 E. Madison Ave. and 231 Hill Ave., Ashburn, Georgia
Broker and Brokerage: J. Kris Knowles of Midcoast Properties, Inc
Acreage: 2.99 +/- acres
NRSF (Combined): 37,600
Unit Count (Combined): 332 storage units
Highlights:
- Perimeter fencing at the 231 Hill location
- Paved asphalt and concrete drive aisles at both sites
Property: Dry Dock & Lock
Location: Crowley, Texas
Year Built: 2021
Brokers and Brokerage: Danny Cunningham, Brandon Karr and Jon Danklefs of Marcus & Millichap
Acreage: 20 acres
NRSF: 200,940
Unit Count: 466 units ( mix of enclosed, covered and uncovered parking spaces for boats and RVs, as well as traditional storage units)
Property: Lock N Store – Richmond Hill
Location: Richmond Hill, Georgia
Broker and Brokerage: Michael Morrison of Superior Capital Advisors
Acreage: 1.57 acres
NRSF: 27,000
Unit Count: 199 units
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