Transactions and Deals: December 5, 2019
posted on 12/5/2019 7:08:00 AM
Compass buys 22nd property in FL
Compass Self Storage has acquired a new self storage center in St. Augustine, Florida, its 22nd location in Florida and 91st location nationwide.
The facility is 86,000 net rentable square feet and located at 250 Sandy Creek Parkway. It opened in 2018.
The acquisition was made by separate affiliates of Amsdell Group, LLC and Compass Self Storage, LLC. Amsdell Companies is headquartered in Cleveland, Ohio.
Bellomy brokers Lone Star Storage
Bellomy & Co. brokered the sale of Lone Star Self Storage in Mansfield, Texas, near Fort Worth. The facility has 186 units in 27,452 net rentable square feet. The property comprises five buildings on 2.06 acres with expansion room. Occupancy was 95% at closing.
Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Cleburne, Texas-based family partnership. They also procured the buyer, Southern Storage LLC of Mansfield.
Sentry, Rosemurgy partner in FL
Sentry Self Storage Hollywood, a 128,000-square-foot facility in Hollywood, Florida, has opened. The project is a joint venture with Sentry Self Storage and Rosemurgy Properties.
The five-story facility is designed by Kenneth Carlson Architects.
Rosemurgy Properties and Sentry Self Storage Management have extensive experience in the self storage industry, with projects in Hollywood, Miami, Panama City, Deerfield and Boca Raton.
Rosemurgy Properties, headquartered in Boca Raton, Florida, is a privately owned commercial real estate development, investment and management firm.
Sentry Self Storage, LC is based in Coral Springs, Florida.
SkyView sells in NC, MI
SkyView Advisors brokered the sale of self storage properties in North Carolina and Michigan.
In North Carolina, Stor-Mor Self Storage in Salisbury, NC, was sold to an undisclosed buyer. Zack Urow, senior vice president, and Ryan Clark, director of sales at SkyView Advisors, represented the seller. Stor-Mor Self Storage is located at 4185 Statesville Blvd. in the Charlotte MSA. This facility is on 13 acres of land with a total of 45,600 net rentable square feet.
In Dearborn, MI, Metro Storage sold to an undisclosed buyer. Urow and Clark represented the seller.
Metro Storage is located at 6470 Wyoming Avenue in the Detroit MSA. This facility is on 3.16 acres with a total of 96,148 net rentable square feet.
MA indoor sports complex to be converted
An indoor soccer complex in Plymouth, Massachusetts, is being considered for conversion to self storage, according to Wicked Local Plymouth.
R.J. Kelly Co. Inc. has proposed converting Plymouth Sports Complex, a covered haven for youth sports, into storage. The building is located on Natalie Way in an industrial area in Plymouth. The Planning Board unanimously agreed with the proposal as presented. The project would include 122,356 square feet of storage and 5,965 square feet for offices.
R.J. Kelly owns eight Stor-U-Self locations in Massachusetts, Connecticut and New Hampshire.
Criterion plans Manhattan storage development
Criterion Group plans to develop a three-story self storage facility to Upper Manhattan, according to The Real Deal.
The Queens-based company, through a limited liability company, pre-filed an application with the Department of Buildings for the facility at 2924 Eighth Avenue. The building will be almost 110,000 square feet. The site of the new development is between West 154th and 155th Streets and is currently a parking lot.
StorageMart recognized for top training
StorageMart has been named on Training magazine’s ranking of the top 125 companies in the world for employee training and development. Other’s on the list include AT&T, Mastercard, and Walmart. The ranking is based on a number of benchmarking statistics for the industry.
"StorageMart's training department upped its game with innovative content creation and delivery methods that engaged learners and sparked behavior change, while helping to move the needle on key corporate initiatives," notes Training magazine Editor-in-Chief Lorri Freifeld. "The collaboration between the training department and senior leadership as detailed in the Training Top 125 application was particularly impressive."
Training magazine is the leading business publication for learning and development and HR professionals.
StorageMart is the largest privately-owned, family-operated storage company in the world.
Strategic Development at work in AZ
Strategic Development Group, LLC is developing Red Mountain Self-Storage & RV facility in Mesa, Arizona.
The 91,500 SF facility will be constructed on over four acres and includes more than 75,000 square feet of air-conditioned space with 16,500 square feet of standard drive-up space. There is more than 40,000 square feet of covered RV parking included in the project. The building is designed by ARC Services Inc.
180 Self-Storage, LLC, a self storage management and consulting company based in Gilbert, AZ, is providing construction management and third-party management of the property.
Strategic Development Group is an Arizona limited liability company with a focus on commercial real estate development and an emphasis on creating Class A quality self storage and other commercial development projects on a national level. They have developed and built in Arizona and Oklahoma and have projects pending in Pennsylvania and Oklahoma.
KS development wins approval
Stortropolis Self Storage has received approval for a self storage facility with three buildings and 609 storage units in Lenexa, Kansas, according to the Shawnee Mission Post.
The project will be on five acres on the southeast corner of West 102nd Street and Cherry Lane near the Falcon Valley Golf Course.
The developer is Schlagel & Associates.
U-Haul converts another Kmart
U-Haul has renovated a vacant Kmart store in Jackson, Tennessee, and opened a self storage facility in Jackson, according to the Citizen Tribune.
U-Haul Moving & Storage at Old Hickory is located at 732 Old Hickory Blvd. It began operating out of a temporary showroom in August 2018 as renovations on a new retail showroom, hitch bay and other service areas were completed. Originally constructed in 1974, the building had sat empty since 2017. U-Haul is converting the 91,772-square-foot building to accommodate 800 climate-controlled units.
Developer plans large NYC storage
Columbia Pacific Advisors Bridge Lending has provided a $28 million loan to refinance a self storage development in Long Island City. Located at 31-08 Northern Boulevard, the 51,426-square-foot site will be redeveloped by Criterion Group into a self storage and retail building totaling approximately 257,000 square feet. The permit-ready nine-story property will be one of the largest self storage facilities in New York City upon completion in 2021.
Tags: Compass Self Storage
, Lone Star Self Storage
, Sentry Self Storage Hollywood
, SkyView Advisors
, 180 Self-Storage
, Stortropolis Self Storage
, Long Island City
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