Recent activity reveals a clear two-pronged investment strategy, balancing aggressive expansion into high-growth Sunbelt “spillover” markets, and defensive plays in supply-constrained Northeast corridors. In Texas, the acquisition of over 200,000 NRSF across Waxahachie, Jonestown, and Farmersville, including the 12.7-acre A-Affordable Boat & RV site, reflects a shift toward specialized, high-yield products in rapidly suburbanizing exurbs of Dallas and Austin. The inclusion of premium tech, such as Noke Smart Access at Lone Star Self Storage, signals a flight to quality as investors position these assets to outperform increasingly competitive local markets. Conversely, the Merit Hill Capital acquisition in Delanco highlights the enduring value of adaptive reuse in the Philadelphia metro, where converting a 1980s structure into a 105,187-square-foot climate-controlled facility bypasses the high barriers to entry typical of the Northeast.
Together, these deals point to a market where capital is being deployed with precision, either aligning with long-term growth trajectories in Texas or anchoring into supply-constrained, demand-rich infill markets that offer durability through cycles.
Property: Lone Star Self Storage (three-story facility)
Location: Waxahachie, Texas
Address: 141 Cardinal Rd, Waxahachie, Texas
Year Opened: 2023
Brokers and Brokerage: Bill Bellomy, Logan Foster, Hugh Horne, and Michael Johnson of Versal
NRSF: 57,875
Unit Count: 569 climate-controlled units
Highlights:
- The average size of ground-level units is 94 NRSF
- Units requiring elevator access are an average of 106 NRSF
- Stone exterior accents
- A well-designed office space
- Covered parking area
- Ample security features throughout
- The property utilizes Noke Smart Access for both the building and individual units
- All 10×30 units feature rollup doors on both sides
- Customers can enter the property through either the main entrance or the secondary entrance
Property: Austin Stone Storage
Location: Jonestown, Texas
Address: 19101 FM 1431, Jonestown, Texas
Brokers and Brokerage: Bill Bellomy, Logan Foster, Hugh Horne and Michael Johnson of Versal
NRSF: 42,513
Unit Count: 285 climate-controlled and non-climate-controlled units
Highlights:
- Metal, steel, and concrete construction
- Concrete drives
- On-site office
- Gated access
- Security features
Property: Self-Storage Facility
Location: Delanco, New Jersey
Address: 700 Creek Road, Delanco, New Jersey
Year Constructed: 1989
Year Converted to Storage: 2021
Operated by: Extra Space Storage
Seller: Metropolis Development Group
Buyer: Merit Hill Capital
Brokers and Brokerage: Tom de Jong, Dylan de Jong and Ian Richman of Colliers
NRSF: 105,187
Unit Count: 865 units (766 climate-controlled units and 99 covered and uncovered parking spaces)
Property: A-Affordable Boat & RV Storage Farmersville
Location: Farmersville, Texas
Year Built: 2023
Seller: Ciera Bank
Brokers and Brokerage: Danny Cunningham, Brandon Karr and Jon Danklefs of Marcus & Millichap
Acreage: 12.7 acres
NRSF: 101,520
Unit Count: 207 units
Metrics Source: StorTrack
*Rates are calculated based on benchmark unit types.
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