Dallas investor buys Kyle, TX storage 

 

Kyle Pkwy Self Storage & Mini Offices, a 41,283-square-foot self storage facility located in Kyle, Texas, has sold to Montfort Capital Partners based in Dallas.

Jon Danklefs, senior associate in Marcus & Millichap’s San Antonio office, had the exclusive listing to market and sell the property on behalf of the seller.

Kyle Pkwy Self Storage & Mini Offices is located at 5141 Cromwell Drive, a principal city of the Austin-Round Rock, Texas MSA. The facility has 138 climate-controlled units and 167 non-climate-controlled units, In addition, there are seven 12 x 30 mini offices and 23 outdoor parking spaces.

 

Public Storage invests big in SC’s low country

 

Real estate development company Miller-Valentine Group and Charleston-based Coastal Storage Group have sold three climate-controlled self storage facilities in the Charleston area to Public Storage, according to the Charleston Regional Business Journal.

Two of the facilities are located in Goose Creek and one is in North Charleston. The transaction includes approximately 300,000 square feet of space and over 2,000 self storage units. The facilities have been in operation since 2018.

The sales price and addresses of the facilities were not disclosed.

Miller-Valentine and Coastal Storage Group own facilities in Myrtle Beach and Knoxville, Tenn. The companies are planning to build six additional facilities in Florida, Kentucky, Ohio and Tennessee this year.

 

NexPoint REIT intends IPO

 

NexPoint Real Estate Finance Inc., a REIT specializing in middle-market loans for hospitality, multi-family, office and self storage properties, announced its intent for an initial public offering (IPO) of up to $115 million in a Dec. 23 filing with the Securities and Exchange Commission. The REIT will be managed by NexPoint Real Estate Advisors VII, a subsidiary of its sponsor, NexPoint Advisors LP.

Founded last year, the Dallas-based company plans to list its shares on the New York Stock Exchange under the NREF symbol.

NREF’s connection to self storage stems primarily from NexPoint Advisors affiliates, which have invested or loaned approximately $211 million in the sector.

At the close of the IPO, the company will operate under a five-member board of directors, which includes Arthur Laffer, the keynote speaker at the Economic Summit at this year’s Self Storage Association Conference & Trade Show in Las Vegas. Laffer is an economist and former member of President Ronald Reagan’s Economic Policy Advisory Board.

 

Janus buys Australian storage solutions company

 

Janus International Group has acquired certain legal entities comprising Steel Storage Australasia, a provider of self storage design and construction solutions serving the Australasian market.

Brisbane, Australia-based Steel Storage Australasia provides doors, lockers, partition systems, single and multi-story self storage building solutions, mezzanine and flooring systems to the Australasian self storage market.

“This addition further solidifies Janus as a truly global turn-key solutions provider for the self storage industry,” said Ramey Jackson, CEO of Janus International.

Janus International Group is a manufacturer and supplier of turn-key self storage building solutions including roll up and swing doors, hallway systems and re-locatable storage units, and facility and door automation tools.

 

Storage planned for Jacksonville, FL

 

The City of Jacksonville, Florida, is reviewing plans for a self storage and retail project at 1195 Edgewood Ave. S. in the Murray Hill neighborhood where a Jones College campus was demolished, according to the Jacksonville Daily Record.

The Silverfield Group and Morales Group propose a three-story, 788-unit self storage building of 98,000 square feet and a 5,000-square-foot retail building with associated parking and utilities.

Development is proposed in phases with the self storage and parking in phase one.

Edgewood Storage LLC, comprising Silverfield Development Co. and Fairfax Properties LLC, paid $1.3 million for the property.

The facility will be branded Extra Space Storage, which will manage the center.

 

MCA finances Anytime’s foray into AL

 

Metropolitan Capital Advisors has arranged a $4 million senior construction loan for Anytime Storage, a self storage owner and operator based in Phoenix, Arizona, according to REBusiness Online.

The company will use the loan to construct a three-story self storage facility in Mobile comprising 466 climate-controlled units. This will be Anytime Storage’s first facility in Alabama.

Once complete, Anytime Storage’s portfolio will total over 3,700 units across Alabama and Arizona.

 

StorQuest sells in Seattle

 

A new StorQuest Self Storage facility at 12805 Martin Luther King Jr. Way S. in Seattle, Washington, sold for almost $21.4 million, according to the Daily Journal of Commerce.

The seller was 12805 MLK SP LLC, which acquired the land in 2017 for over $1.1 million then developed it.

 

Storage near Appalachian State moves ahead

 

The Boone, North Carolina, Board of Adjustment has granted a special use permit for the construction of Save Green Self Storage, according to the Watauga Democrat.

Robert High Development of Wilmington, NC, plans a four-story storage facility with 990 units at the former Modern Toyota of Boone property at the intersection of East King Street and New Market Boulevard.

The project is 134,852-square feet and four stories. It’s expected to cost approximately $7.5 million to build. The facility would be the first internally-accessed, climate-controlled self storage facility in the region.