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Transactions and Deals: June 12, 2020

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Transactions and Deals: June 12, 2020

Meridian brokers Florida deal

 

Meridian Storage Group brokered the sale of Indian River Self Storage located in Edgewater, Florida. The facility consists of 84,380 NRSF with 664 units. The seller was a private entity represented by Patrick Kidder of Meridian Storage Group. Kidder also secured the buyer, a private operator. 

 

U-Haul repurposes century-old Dayton building

 

U-Haul Storage of Downtown Dayton has opened at 360 S. Main Street in Dayton, Ohio, with 350 indoor self storage units, according to Dayton.com.

U-Haul acquired the 83,000-square-foot building in downtown Dayton in 2017. The building dates to the early 1900s. It has housed many businesses, including a Borchers Ford car dealership for decades until it closed in 1979, and a vocational and rehabilitation services health-care firm in the 1990s. The facility has been vacant since about 2010. More than three years of work went into refurbishing the building. Further renovation will create 250 additional storage units.

 

Storable adds management software to portfolio

 

Storable, a supplier of varied products and services to the self storage industry, has added Easy Storage Solutions, a provider of web-based self storage management software, to its family of companies. The Easy Storage Solutions leadership team will remain in their positions.

Storable is also comprised of SiteLink and storEDGE, providers of facility-management software; SpareFoot, an online marketplace for self storage units; SBOA Merchant Services, Select Merchant Solutions and SiteLink Merchant Services, providers of payment processing; and Bader and Storsmart, providers of self storage tenant insurance. storEDGE also offers website development and digital marketing services.

Founded in 2008, Easy Storage Solutions provides management software for small to mid-size self storage operations. It also offers accounting and tax services, call-answering services, cloud-based access control, online marketing and search engine optimization, state specific self storage agreements and other documents, and tenant-protection programs. Founders are Ken Hendrickson and Jimmy Sorenson.

Based in Austin, Texas, Storable is backed by Boston-based private-equity firm Cove Hill Partners.

 

Palm Beach, Florida, approves storage

 

The city council of Palm Beach Gardens, Florida, has approved a 74,936-square-foot self storage facility and a 1,229-square-foot accessory office on the northeast corner of Northlake Boulevard and Interstate 95, according to The Palm Beach Post.

The storage facility will replace a long-shuttered fitness club near one of the city’s busiest intersections. The 17,072-square-foot Crunch Fitness gym on the northeast corner of Northlake Boulevard and Interstate 95 will be demolished to make way for a 74,936-square-foot storage facility and a 1,229-square-foot accessory office.

 

Beyond opens Arizona facility with public art

 

Beyond Self Storage at Tempe has opened at the intersection of Priest and Ruby in Tempe, Arizona. The climate-controlled facility features 820 storage units and 26 outdoor parking spaces. It’s Beyond Self Storage’s second facility in Phoenix.

The property features art by local artist, Daniel Moore titled “Chaos Restored,” a fitting name for an industry that focuses on decluttering and compartmentalizing. The 65 ft. tall by 35 ft. wide building face showcases contemporary metal sculptural pieces.

Beyond Self Storage operates storage facilities across the United States, with locations open in Kansas, Missouri, Michigan, Pennsylvania, Minnesota, Illinois, Arizona, and Florida.

 

Space Shop adds Prorize pricing technology

 

Stein Investment Group has deployed Prorize’s automated pricing solution at all of its self storage locations branded as Space Shop Self Storage. The solution uses artificial intelligence (AI) algorithms to find the ideal price for customers and operators under any market condition.

“Working with Prorize has enabled us to implement a precise, data-driven approach to price management. It also freed up resources for other urgent projects,” remarked Cliff Hite, vice president of operations at Stein Investment Group.

Prorize is a revenue management solutions company serving clients in eight countries across four continents.

Stein Investment Group is a family-owned and operated real estate investment firm with a self storage portfolio is branded as Space Shop Self Storage with facilities across the metro Atlanta, South Carolina, North Carolina, and Ohio.

 

 

 

 

| Categories: | Tags: Meridian Storage Group, U-Haul Storage of Downtown Dayton, Easy Storage Solutions, Storable, Palm Beach Gardens, Beyond Self Storage, Space Shop Self Storage, Prorize | View Count: (363) | Return

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