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Transactions and Deals: May 17, 2020

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Transactions and Deals: May 17, 2020

Meridian brokers sale in Deland, Florida

 

Meridian Storage Group brokered the sale of Koan Mini Storage located at 499 N. Spring Garden Ave in Deland, Florida. The facility consists of 52,491 NRSF and 524 non-climate controlled units. Patrick Kidder, president of Meridian Storage Group, represented the seller and secured the buyer, a private investment firm. The property will be operated as Extra Space Storage.

 

Move It adds management in Florida Panhandle

 

Move It Storage will manage a new facility in Navarre, Florida, expanding the Move It footprint in the Florida Panhandle to eight properties.

Move It Storage – Navarre West features a three-story building with 79,000 NRSF and 641 climate-controlled units. The property includes 102 covered boat and RV parking spaces.

J2 Development LLC developed the project, and Oden Hardy Construction was the general contractor.

Move It Storage is a Participating Regional Operator with National Storage Affiliates Trust. It operates 86 properties across six states.

 

Compass adds 24th Florida location

 

Compass Self Storage has acquired a self storage center located at 200 NW 79th Street in Miami, Florida. This transaction marks Compass Self Storage’s 93rd location nationwide and its 24th location in Florida.

The storage center has over 37,000 net rentable square feet and is 100% climate-controlled

Compass Self Storage is owned by the Amsdell family of companies headquartered in Cleveland, Ohio.

 

Contain Yourself opens in South Carolina beach town

 

Contain Yourself Storage has opened in Myrtle Beach, South Carolina.

The newly constructed property is located at 123 Loyola Drive. It offers 77,000 square feet of secure, climate-controlled space.

The property is owned by Store Here Self Storage.

 

Midcoast brokers Live Oak sale

 

Live Oak Mini Storage, located in Moncks Corner, South Carolina, has sold to a local buyer. Dale C. Eisenman, CCIM, and Michael Morrison, of Midcoast Properties, Inc. represented the seller. 

The facility is comprised of three buildings, containing 139 units.

Midcoast Properties, Inc. offers brokerage services in Alabama, Georgia, North Carolina and South Carolina.

 

Progress Capital loans on New Jersey project

 

Progress Capital arranged a $14.5 million construction loan for Dino Tomassetti, managing member of 1 Holland LLC and Storage Fox, for a self storage project in Lyndhurst, New Jersey, according to NJBiz.

Located at 1 Terminal Road, when completed the property will consist of 950 self storage units that will be managed under the Life Storage banner.

The borrower purchased the site with all entitlements in place and has retained ARCO Murray to deliver a turn-key building.

Kathy Anderson of Progress arranged the loan with TriState Capital Bank.

Tomassetti and his partners founded Storage Fox, a self storage company with more than 5,200 units located in White Plains, Brooklyn, Long Island City and Yonkers. The Storage Fox portfolio was purchased by Clutter Inc. in September 2019, and the partners are now rebuilding their storage portfolio, having formed a management alliance with Life Storage.

 

StorQuest buys in Venice, Florida

 

The William Warren Group, operating under the StorQuest Self Storage brand, has acquired a 66,273-rentable-square-foot facility in Venice, Florida. A local private investor sold the property for $8.7 million.

Located on 4 acres at 5115 Englewood Road, the property comprises three buildings completed in 2019. Originally named Storage Venice, the facility has been rebranded as StorQuest.

 

U-Haul opens in West Wichita

 

U-Haul Moving & Storage of West Wichita has opened at 600 S. Holland St., Wichita, Kansas. The new three-story building has 950 indoor self storage units.

The facility took two years to develop.

 

Kirkland plans Washington development

 

Kirkland Development plans a 2,000-unit self storage facility called Kirkland Premier Storage in Vancouver, Washington.

The project would be on a 0.77-acre site at 900 W. Seventh St., in an area visible from the waterfront but separated by a railroad spur line into the Port of Vancouver.

The proposed project would be divided into two phases, with Phase 1 along the southern side of the site. It would be seven stories tall and contain approximately 118,000 square feet. Phase 2 would also be seven stories tall and would add about 200,000 square feet of space.

Together, the two phases would offer approximately 2,000 storage units of various sizes, plus an 800-square-foot office on the ground floor and a small lot for vehicle parking and loading.

 

LeClaire Group brokers Texarkana portfolio

 

The LeClaire Group of Marcus & Millichap brokered the sale of CubeSmart (managed) Self Storage, a two-property self storage portfolio located in Texarkana, Texas. The asset has 571 units and 85,656 net rentable square feet.

Dave Knobler, first vice president investments in Marcus & Millichap’s Houston, Texas office, and Charles "Chico" LeClaire, executive managing director investments in the Denver, Colorado office, had the exclusive listing to market the property on the behalf of the seller, a Florida based LLC. 

The portfolio has locations at 927 North Robison Road and 241 Forest Lake Drive in Texarkana.

 

 

 

| Categories: | Tags: Meridian Storage Group, Move It Storage, Compass Self Storage, Contain Yourself Storage, Amsdell, Live Oak Mini Storage, ARCO Murray, New Jersey, Clutter Inc., The William Warren Group, Wichita, Kansas, Kirkland Premier Storage, The LeClaire Group, Texarkana | View Count: (443) | Return

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