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Transactions and Deals: July 15, 2019

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Transactions and Deals: July 15, 2019

Young develops ACE Affordable in TX

 

Young Enterprises L.P. has opened ACE Affordable Storage at 4615 N. Travis Street in Sherman, Texas.

ACE Affordable Storage is a 106,430-square-foot, storage facility with a modern farmhouse design. The facility includes a combination of office suites for tenants wanting both office and storage.

 

 

Happy Valley in AZ sells to Smart Stop

 

Strategic Development, LLC, has sold Happy Valley Self-Storage in the Deer Valley market of Phoenix, Arizona, to Smart Stop Self Storage.

The 80,000-square-foot facility is within Happy Valley Crossroads, a retail development. It includes 550 units.

The building, designed by ARC Services Inc., was completed in May 2018 and sold at 62 percent occupancy.

Feasibility consulting, construction management, and property management services were provided by 180 Self-Storage, LLC, based in Gilbert, AZ.

Strategic Development Group, LLC, is based in Arizona and has developed and built in Arizona and Oklahoma with current projects pending in Pennsylvania and Oklahoma.

 

StorQuest opens 2 in CA, HI

 

StorQuest Self Storage has opened new facilities in California and Hawaii.

StorQuest in Escondido, CA, is at 222 W Mission Ave. Set on 1.57 acres, this four-story structure yields 70,000 square feet with 810 units.

In Hawaii, StorQuest Express Kapolei is a new ground-up facility on Komohana Street.

StorQuest Self Storage is owned by The William Warren Group, Inc.

                      

Birmingham imposes 6-month ban on new storage

 

The city of Birmingham, Alabama, has unanimously approved a measure that prevents self storage companies from obtaining a license to build a facility in certain areas of the city. The ordinance will prevent any new business licenses for self storage in areas zoned M-2 or I-2 heavy industrial for six months with a possible extension of up to three more months. The moratorium has gone into effect immediately.

City councilors said the measure would give the city time to strategically plan for growth.

 

SC developer plans NY storage in former manufacturing site

 

Johnson Development Associates, Inc., has purchased 2.5 acres at 180 Glen Head Road in Oyster Bay, New York, and plans to develop a 102,000-square-foot storage facility. The property was formerly the site of Halm Industries, a printing press manufacturer.

The three-story, climate-controlled building will comprise about 900 units.

Life Storage will operate the facility.

Johnson Development Associates is based in Spartanburg, South Carolina.

 

Storage Deluxe opens in NJ

 

Storage Deluxe of New York City has opened a new CubeSmart Self Storage at 186 East 22nd Street in Bayonne, New Jersey, according to Jersey Digs.

The 120,000-square-foot self storage facility is seven stories tall.

This is the second New Jersey self storage facility developed by Storage Deluxe. The first location opened in Hoboken. Both deals were brokered exclusively by Anthony and Eugene Rivera of Pure Properties.  

 

Woodland, CA extends moratorium

 

Woodland, California, has extended its “interim urgency” ordinance that puts a moratorium on self storage, according to the Daily Democrat.

The original moratorium dates to July 2017. The new extension will continue for another 45 days, affecting storage in the city’s industrial zone.

 

Life Storage sells 32 to Inland Real Estate

 

Life Storage has completed the sale of 32 self storage properties to an affiliate of The Inland Real Estate Group of Companies, Inc. The properties are located in Louisiana, Mississippi, Texas, South Carolina and North Carolina. Life Storage will continue to manage all the properties.

The Inland Real Estate Group of Companies, Inc. is one of the nation’s largest commercial real estate and finance groups.

 

Self Storage Auction partners with The Storage Group

 

Digital marketing firm The Storage Group is partnering with Self Storage Auction (SelfStorageAuction.com) to make it easier for facility owners to streamline their live featured auction process online. Self Storage Auction will be integrated through The Storage Group’s website design offerings.

The Storage Group specializes in website design, search engine optimization, and software development.

Self Storage Auction is the largest global online self storage auction site in the industry. It is headquartered in Phoenix, Arizona.

| Categories: | Tags: ACE Affordable Storage, Happy Valley Self-Storage, StorQuest Self Storage, Birmingham Alabama, moratorium, Oyster Bay New York, Johnson Development Associates, Storage Deluxe, interim urgency, Self Storage Auction, The Storage Group | View Count: (336) | Return

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