{"id":7392,"date":"2024-10-07T15:45:12","date_gmt":"2024-10-07T15:45:12","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=7392"},"modified":"2024-10-16T12:07:56","modified_gmt":"2024-10-16T12:07:56","slug":"recent-transactions-10-01-2024-10-07-2024","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/recent-transactions-10-01-2024-10-07-2024\/","title":{"rendered":"Recent Transactions: 10.01.2024 \u2013 10.07.2024"},"content":{"rendered":"


\nThe recent self-storage transactions, ranging from the record-breaking $91 million sale in Cerritos, California, to smaller acquisitions in markets like Tuttle, Oklahoma, and Danville, Arkansas, highlight investors\u2019 focus on a diverse portfolio strategy. High-demand urban centers (e.g., Cerritos, Tacoma) attract investors due to dense populations, strong economies, and limited land supply.
\n<\/span><\/span><\/span>At the same time, suburban and rural markets offer opportunities for market penetration with less competition. Investors are also targeting facilities with high occupancy rates and a mix of unit types, reflecting a strategy to capitalize on steady cash flow potential and the self-storage sector\u2019s adaptability to various market conditions.<\/span><\/span><\/span><\/p>\n

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\n<\/span><\/span><\/span>Property: <\/span><\/span><\/span>Extra Space Storage Cerritos <\/span><\/span>(<\/span><\/span>three-story facility<\/span><\/span>)
\n<\/span><\/span><\/span>Location: <\/span><\/span><\/span>Cerritos, C<\/span><\/span>A
\n<\/span><\/span><\/span>Address: <\/span><\/span><\/span>17900 Crusader Ave., Cerritos, California
\n<\/span><\/span><\/span>Year Built: <\/span><\/span>2020
\n<\/span><\/span><\/span>Closing Deal: $91 Million
\n<\/span><\/span><\/span>S<\/span><\/span>eller: <\/span><\/span>A<\/span><\/span> joint venture between Los Angeles-based self-storage developer Capital 360, LLC and Charlotte-based global investment firm Barings
\n<\/span><\/span><\/span>Buyer: <\/span><\/span>Hines
\n<\/span><\/span><\/span>Brokers<\/span><\/span> and Brokerage: <\/span><\/span><\/span>Nick Walker and Trevor Roberts of <\/span><\/span>the <\/span><\/span>Self Storage Advisory Group <\/span><\/span>of CBRE
\nAcreage: <\/span><\/span><\/span>4.95 acre<\/span><\/span>s
\n<\/span><\/span><\/span>Square Feet: <\/span><\/span><\/span>260,273
\n<\/span><\/span><\/span>Unit Count: <\/span><\/span><\/span>2,460 units
\n<\/span><\/span><\/span>Occupancy: <\/span><\/span>88%<\/span><\/span><\/span><\/p>\n

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\nPortfolio: <\/span><\/span><\/span>T<\/span><\/span>hree-<\/span><\/span>P<\/span><\/span>roperty <\/span><\/span>S<\/span><\/span>elf <\/span><\/span>S<\/span><\/span>torage <\/span><\/span>P<\/span><\/span>ortfolio <\/span><\/span>(<\/span><\/span>previously under the Storage Center brand<\/span><\/span>)
\n<\/span><\/span><\/span>Location: <\/span><\/span><\/span>Austin, T<\/span><\/span>X \/ <\/span><\/span>San Antonio and Glendale, A<\/span><\/span>Z<\/span><\/span><\/span>
\n<\/span><\/span><\/span>S<\/span><\/span>eller: <\/span><\/span><\/span>Brookwood Properties
\n<\/span><\/span><\/span>Buyer: <\/span><\/span><\/span>UTEX Storage
\n<\/span><\/span><\/span>Brokers<\/span><\/span> and Brokerage: <\/span><\/span><\/span>Jon Danklefs <\/span><\/span>of The Danklefs Group <\/span><\/span>of Marcus & Millichap<\/span><\/span><\/span>
\n<\/span><\/span><\/span>Square Feet: <\/span><\/span><\/span>323,000
\n<\/span><\/span><\/span>Unit Count: <\/span><\/span><\/span>3,380 unit<\/span><\/span>s (<\/span><\/span>3,296 climate-controlled and 84 non-climate-controlled units<\/span><\/span>)
\nHighlights:<\/span><\/span><\/span><\/p>\n