Transactions and Deals: December 11, 2018
posted on 12/11/2018 10:59:00 AM
Atlantic SBS develops TN facility
Real estate development company, Atlantic SBS LLC, has opened a new self storage facility named South Broad Storage in Chattanooga, Tennessee. The storage center is at 2430 Cowart Street. It includes 35,720 square feet of rentable storage space in 332 climate-controlled storage units. The facility is less than two miles from the Tennessee Aquarium, The Chattanooga Choo Choo and the University of Tennessee at Chattanooga.
Absolute Storage Management will provide management.
Compass Self Storage buys second facility in Acworth, GA
Compass Self Storage has acquired a self storage center in the greater Atlanta market at 5745 Bells Ferry Road in Acworth, Georgia. The facility is 50,700 net rentable square feet with covered RV parking. Compass plans to upgrade the property with paving, security and installation of individual access control.
J.L.”Chip” Mack, III with McWhirter Realty Partners, LLC represented Amsdell in this transaction. With this acquisition Compass Self Storage has 16 locations in the greater Atlanta market, and 85 total storage centers nationwide.
“The acquisition of our second storage center in Acworth strengthens our efficiencies in terms of market coverage in this under-supplied segment of Atlanta. We are pleased to further expand our footprint in the Greater Atlanta area, and offer our new customers top notch product and customer service to ease their moving and storing experience” stated Todd Amsdell, President.
The acquisition was made by separate affiliates of Amsdell Group, LLC and Compass Self Storage, LLC. The Amsdell family of companies is headquartered in Cleveland, Ohio.
Talonvest arranges financing for NJ project
Talonvest Capital Inc. arranged over $5 million of equity through its exclusive relationship with Clark Investment Group for Integritas Partners and negotiated $13.6 million of construction financing with a Midwestern bank on behalf of the partnership. The partners are developing a Class-A, institutional quality self storage facility with 152,000 gross square feet in a five-story building featuring 1,220 storage units, at 625 Grand Avenue in Ridgefield, New Jersey.
The Talonvest team responsible for this assignment included Tom Sherlock, Jim Davies, Erich Pryor, and Terra Hendrich. Talonvest Capital is a boutique real estate firm providing advisory services to self storage and commercial real estate investors, owners and developers nationally.
StorageMart buys facility in San Antonio
StorageMart has acquired a new facility in San Antonio, Texas, its fifth in the area. This facility serves the Helotes and Leon Valley areas in northwest San Antonio. The new StorageMart on Braun Road has over 72,000 square feet of rentable space with an option of 218 climate controlled units, 282 regular units, and 23 parking spaces for rent.
StorageMart plans to remodel the facility and upgrade the security systems, fencing, and adding a lift gate.
StorageMart started with a single store in Columbia, MO, and has grown to be the largest privately-owned, family operated storage company in the world. StorageMart is led by the Burnam family, which has been in the storage industry for three generations.
The Storage Group partners with Storage Protectors
The Storage Group, which designs websites and progressive web apps, and search engine optimization for the self storage industry, has partnered with content insurance provider, Storage Protectors.
This alliance enhances TSG’s online rental tool, ClickandStor® with a full service e-commerce platform in the storage industry. With Storage Protectors as the preferred content coverage provider, self storage operators can leverage to increase facilities revenue and valuation.
Additionally, The Storage Group will act as a consultant of Storage Protectors and provide exclusive packages to self storage operators to include tenant insurance, customized web themes, monthly hosting, at competitive rates in the industry.
Developer opens new SC storage
Miller-Valentine Group has completed a three-story, 90,000-square-foot self storage facility at North Rhett Avenue and Red Bank Road in Goose Creek, South Carolina. Coastal Storage Group of Charleston was a partner in the development, according to the Charleston, SC, Post and Courier.
Extra Space will manage the property.
Ziff Properties adds to Florida portfolio
Ziff Properties has acquired A Dent in the Attic, a 51,000-square-foot storage facility in Tallahassee, Florida, according to the Charleston, South Carolina Post and Courier.
The facility on 2.7 acres includes climate and non-climate-controlled units. Ziff Properties plans to renovate the facility and expand it by 4,500 square feet.
CubeSmart Self Storage will manage the property. Ziff Properties is based in Mount Pleasant, SC.
Storage Post to manage new Manhattan storage
Storage Post Self Storage has entered into an agreement with L&L Holding and Normandy Real Estate Partners to manage the Chelsea Mini-Storage facility located in the Terminal Stores Building at 261 11th Avenue in Manhattan. Situated in the heart of Chelsea, this is the first Storage Post location in Manhattan. The company has 26 other properties in the greater New York City market.
Headquartered in Atlanta, Georgia, Storage Post has locations along the East Coast and throughout the South.
GA developer gains approval for OH supermarket conversion
The Northland Community Council development committee has approved a plan to replace a shuttered grocery store with a self storage business, according to This Week Community News in Columbus, Ohio.
RCG Ventures, a privately funded real estate investment group in Atlanta, Georgia, plans to redevelop the Giant Eagle store at 1000 E. Dublin-Granville Road in Columbus. The store closed in March of 2017.
In addition to self storage, the rezoning request includes two outparcels for retail development.
Tags: South Broad Storage
, Absolute Storage Management
, Compass Self Storage
, Talonvest Capital
, Storage Protectors
, The Storage Group
, Coastal Storage Group
, Ziff Properties
, Storage Post
, Giant Eagle
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