Transactions and Deals: January 6, 2020
posted on 1/6/2020 7:21:00 AM
Storage Post lands new property near NYC
Storage Post Self Storage has acquired a 3-story self storage facility in Haledon, New Jersey. The converted schoolhouse was originally built in 1894 and re-developed into a self storage facility in 1994.
The new Storage Post Haledon Self Storage facility is located at 45 Kossuth Street, 14 miles from Manhattan. Storage Post plans a full-scale renovation
Storage Post expects to add more properties over the next few years through acquisitions, ground-up development and select management contracts.
SkyView brokers MO sale of American Storage
SkyView Advisors brokered the sale of the American Storage portfolio in Eureka, Missouri, to an undisclosed buyer.
American Storage consists of 860 units in 103,726 net rentable square feet on 6.9 acres of land in the St. Louis MSA. The facilities in the portfolio are located at 306. W. 4th Street and 1699 W. 5th Street, in Eureka.
Richard Riddle, associate, and Ryan Clark, director of sales at SkyView Advisors, represented the seller.
SSTV buys newly completed AZ storage
Strategic Storage Trust IV, Inc. has acquired a newly constructed, 716-unit self storage facility in Surprise, Arizona, a suburb of Phoenix. The acquisition is Strategic Storage Trust IV's 22nd wholly owned property acquisition and its first property in the Phoenix area.
Located at 13788 W. Greenway Road, the facility is comprised of 79,000 square feet of space on 3.13 acres of land. It was constructed in 2019.
PA town approves Compass purchase and expansion
The Shaler, Pennsylvania, Board of Commissioners has approved a Compass Self Storage development at the former Shaler Self Storage location at 422 Elfinwild Road, according to the Shaler Journal.
The facility is approximately 25,000 square-foot of single-story self storage, all drive-up units. Compass plans a 28,500 square foot expansion.
Compass Self Storage is a member of the Cleveland-based Amsdell family of real estate and self storage companies.
VanWest adds 2 in NC to portfolio
VanWest Partners added two new assets to its VanWest Storage Fund 1, LLC. It has acquired All In Self Storage in Walkertown, North Carolina, and Stor Mor Self Storage in Salisbury, NC. The fund launched in April 2019 and now has 5 assets.
All In Self Storage was built in 2017 and is located at 2875 Rocky Branch Road in Walkertown. It has 45,575 square feet and 315 units.
Stor Mor is at 4185 Statesville Boulevard in Salisbury. Built in 2006, it has 282 units in 49,600 square feet. VanWest intends to rebrand both facilities under its ClearHome Self Storage management platform.
Weinstein joins MCSS
Self storage developer MCSS Development & Investment LLC hired Daniel Weinstein as managing partner, according to The Real Deal. Weinstein will work with MCSS founders Jay Massirman, Steve Garchik and Steve McBride on expanding the company. He was previously founder and managing partner of Urban Storage Fund, and before that was U.S. acquisitions manager for Public Storage.
Blumenfeld plans Long Island development
Blumenfeld Development Group plans to build a four-story, 98,000-square-foot self storage facility on long-vacant property in Roslyn Heights, New York, according to The Island Now.
A site plan for property at 71 Jane Street was unanimously approved by the North Hempstead Town Board.
Syosset-based Blumenfeld Development is best known for developing big box stores like B.J.’s in Farmingdale and outlet malls like Tanger’s The Arches in Deer Park. The site for storage is near the Long Island Rail Road station in Roslyn and is considered a brownfield property.
10X opens new facility in MA
10X Self Storage has opened a new self storage facility at 215 Simarano Drive in Marlborough, Massachusetts, according to Boston Real Estate Times.
Other 10X Self Storage facilities are located in Acton and soon to open in Worcester. 10X Self Storage of Marlboro is a 520-unit, five-story steel building operated by O’Brien Commercial Properties LLC.
SD town set for new storage
Mitchell Storage, LLC, plans to transform the former Palace Mall in Mitchell, South Dakota, into self storage and other business tenants, according to the Daily Republic.
Mitchell Storage bought the 151,044-square-foot building at 1801 N. Main Street in 2019. Mitchell Storage is owned by Mark Bigelow of Idaho, Roman Daniels-Brown of Washington and Steven Bigelow of Texas.
Several former mall tenants will remain.
Tags: Storage Post
, American Storage
, Strategic Storage Trust
, Compass Self Storage
, VanWest Partners
, ClearHome Self Storage management
, Long Island
, 10X Self Storage
, South Dakota
, Mitchell Storage
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