Transactions and Deals: May 31, 2019
posted on 5/31/2019 10:23:00 AM
Bellomy brokers Scotsman sale
Bellomy & Co. brokered the sale of Scotsman Self Storage in Huntsville, Texas. The facility is 70 miles north of downtown Houston, Texas off I-45 and comprises 44,500 NRSF in 495 climate-controlled and drive-up units. The facility is located on three separate parcels totaling 4.86 acres. The third parcel has ample expansion room for additional storage units or land for outdoor parking.
Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Huntsville, Texas based seller. They also represented the College Station, Texas-based buyer.
Bellomy & Co. is an Austin and Houston commercial real estate firm with a team exclusively focused on the self storage industry.
Boardwalk completes GA project
Boardwalk Development Group has completed a multi-story, climate-controlled self storage facility in Woodstock, Georgia.
This facility is at 185 Woodstock Parkway and is being managed by CubeSmart.
Boardwalk Development Group owns four properties in the area in Canton, Cumming and Dawsonville and plans to acquire three more in north Georgia.
Jenkins adds TX facility near Astros stadium
The Jenkins Organization, Inc. has opened a new development in the Houston area, located at 1025 Sampson Street.
EaDo Storage is a 110,000-square-foot property with 850 climate and non-climate controlled units.
“The property’s unique design compliments the area well, and its color scheme pays homage to the Astros and Dynamo, both of whom play in our backyard,” said Ricky Jenkins, President of the Jenkins Organization stated
The Jenkins Organization, Inc. is a Houston-based real estate investment and development firm operating 60 self storage and RV park properties throughout Texas, Oklahoma, Missouri, Minnesota, Virginia and Louisiana
Public Storage opens new project in CO
Public Storage has opened a 107,000-square-foot facility in Colorado Springs, Colorado. The 700-unit asset marks Public Storage’s second opening in Colorado Springs within the last two months.
Located at 3601 Blue Horizon View, the facility is in a new neighborhood, alongside Freeway 21.
NSA reveals succession plan for Nordhagen, Fischer, Togashi
National Storage Affiliates Trust has elevated Arlen Nordhagen, Chairman, Chief Executive Officer and founder, to Executive Chairman, effective January 1, 2020. Nordhagen co-founded NSA and its predecessor, SecurCare Self Storage, and has served as CEO and Chairman of the Board of Trustees of NSA since its IPO in 2015.
As part of this planned transition of responsibilities, effective January 1, 2020, Tamara Fischer will be appointed Chief Executive Officer, in addition to her current role as president. She will join the Board of Trustees on the same date.
The Board further announced the appointment of Brandon Togashi to executive vice president and Chief Financial Officer effective January 1, 2020. Togashi joined NSA in 2014 and currently serves as senior vice president and Chief Accounting Officer. All the other members of the NSA Senior Leadership Team will continue in their current roles reporting directly to Fischer.
“While my day-to-day role will be reduced going forward, I will remain very active with the company as Executive Chairman,” Nordhagen said. “The strong relationship between Tammy and me has resulted in the outstanding performance that NSA has delivered since IPO, and this relationship will continue as we move forward.”
NSA currently holds ownership interests in and operates over 700 self storage properties located in 35 states + Puerto Rico.
CBRE names McCall leader for self storage
Curt McCall has been promoted at CBRE Inc., to national leader for valuation and advisory services in the self storage specialty practice. McCall is based in the Charleston, SC, office. He has 30 years of commercial real estate industry experience. He has a master’s degree in real estate valuation from the University of Florida.
Lindsey brokers NC development
Volta Global and Burnett Properties Group plan to begin construction on Holly Springs Self Storage, a four-story facility comprised of 90,000 square feet of climate-controlled storage and retail/office space in Holly Springs, North Carolina. The project is scheduled to be completed in the Holly Springs Business Park by May 2020.
Volta Global is a private investment group with current storage investments in the Carolinas, Tennessee, and Florida. It’s the group’s first investment in the Raleigh-Durham area. Volta Global has partnered with a local developer, Burnett Properties Group, on the transaction, which was brokered by John Lindsey of Lindsey Self Storage Group.
Absolute buys, rebrands NC facility
Absolute Storage Investment has purchased Fayetteville Storage on Yadkin Road in Fayetteville, North Carolina.
The facility is comprised of 425 units totaling 53,750 rentable square feet. Fayetteville Storage on Yadkin Road was previously A Storage Place.
The property will be managed by Absolute Storage Management, which operates 100 properties in 13 states.
GA gun club may become storage
RRB Development, LLC, wants to convert a long-vacant gun club in Sandy Springs, Georgia, to self storage, according to Reporter Newspapers.
The facility would be three stories and about 100,000 square feet. The building is located on a 1.1 acre site at 8040 Roswell Road.
RRB Development needs a conditional use permit to build.
Developers plan Charleston, SC project
Charlotte-based developers Casey Brock and Tony Berry have formed a joint venture with Atlanta-based RADCO Ventures to build a new self storage facility at 1861 Ashley River Road in Charleston, South Carolina.
Designed by the architectural firm SGA NarmourWright Design, the 96,000-square foot, climate-controlled building will feature 675 climate- and humidity-controlled units. The project will also include approximately 2,200 square feet of commercial space fronting Ashley River Road to be leased for non-storage commercial uses.
The Charleston office of Stantec Engineering is providing civil design and landscape architecture services. Clayton Construction Company based in Spartanburg, South Carolina is the project’s general contractor. CubeSmart Self Storage will manage the property after its Spring 2020 opening.
Vacant retail to become storage in MI
A vacant building in Saginaw Township, Michigan, will be converted to self storage, according to ABC Channel 12 in Flint.
A vacant Value City building on Bay Road has been purchased by Star Saginaw LLC. The company plans to turn the 140,000-square-foot building into storage units. Across the road, a former Kmart has already been turned into a CubeSmart self storage facility.
Simply opens 2 in NY
Simply Self Storage has opened two new facilities in Hauppauge and Lindenhurst on Long Island, New York.
One facility is located at 1070 Route 109, Lindenhurst, New York. The second is at 745 Old Willets Path, Hauppauge, New York.
Based in Orlando, Florida, Simply Self Storage has more than 200 locations nationwide.