Transactions and Deals: June 26, 2020
posted on 6/26/2020 1:54:00 PM
ARCO/Murray delivers West Virginia storage
ARCO/Murray has completed Virginia Avenue Self Storage in Martinsburg, West Virginia. The 99,000-square-foot, 5-building facility includes a two-story building that was retrofitted from its previous use as an auto body shop and four new one-story buildings. The facility has a 900-square-foot office.
ARCO/Murray provided complete design-build services including architectural, structural, MEP design, permitting, and construction. Ben Graber was the project manager, and Murray Howell served as the project superintendent.
All From 1 Supply Introduces New Disinfectant
All From 1 Supply is introducing a new product to help protect storage operators and their tenants during the coronavirus pandemic. The hospital-grade Broad Spectrum Disinfectant can be repeatedly sprayed throughout the facility without any hazards to either the person applying it or to the public. It is a botanical based product that doesn’t contain any alcohol, chlorine, or ammonia compounds that can damage fixtures.
The disinfectant can be used on cart handles, key pads, counters, bathrooms, door knobs, elevators, vacant rental units being prepped to be put back on line, or any other surface that is prone to repeated touching and handling. It is 99.9% effective, has no chemical odor, and leaves no residue. Learn more about this product and others in the “Heath Safety & Sanitization Supplies” section on the All From 1 Supply website.
Brookwood opens storage in San Antonio
Brookwood Properties LLC will open a three-story self storage facility located at 4618 San Pedro Ave. in San Antonio, Texas, according to REBusinessOnline.
The property will span 119,000 square feet and feature 900 controlled-climate units. New York-based self-storage REIT Life Storage will operate the facility. Baton Rouge, La.-based Brookwood Properties broke ground on the building in June 2019.
The project team includes Baton Rouge-based general contractor Rosehill Construction and Wichita, Kan.-based architect Kaufman Design Group. The project is the 51st facility in the Brookwood Properties portfolio.
Bellomy represents in Texas sales
Bellomy & Co. brokered the following sales:
Texas Hills Storage in Lago Vista, Texas, northwest of downtown Austin. The property consists of 192 climate, non-climate, and parking units in 28,500 NRSF. In addition to self storage rentals, there is also a packaging and shipping operation, retail sales, notary, and dry-cleaning businesses on site.
Bill Bellomy and Michael Johnson represented the Lago Vista, Texas-based seller and the Arlington, Texas-based buyer.
A+ Storage in Mission, Texas. The property consists of 169 units in 24,100 NRSF.
Bellomy and Johnson represented the Harlingen, Texas-based seller and the Lincoln, Nebraska-based buyer.
Talonvest assists StorQuest, York
Talonvest Capital has facilitated two financing packages totaling $19.2 million for two separate self storage investors. The firm secured a $10.2 million acquisition loan for York RE Capital Partners’ purchase of a newly delivered facility in Marietta, Georgia. Additionally, the brokerage arranged two CMBS notes totaling $9 million for two StorQuest Self Storage-managed properties in California.
The brokerage team included David DiRienzo, Eric Snyder, Jim Davies, Kim Bishop, Lauren Maehler and Mason Brusseau.
York RE Capital Partners’ purchase is an 83,009-net-rentable-square-foot facility completed in 2020 and located on 3 acres at 3420 Sandy Plains Road. The Davis Group sold the property for $12.4 million. Atlantic Capital Bank originated a five-year acquisition loan.
The StorQuest Self Storage properties are located at 2412 Oakdale Road in Modesto and 3201 East Hatch Road in Ceres. Built in 1985, 2003 and 2008, respectively, both facilities have single-story buildings.
JV buys Lokabox portfolio
A joint venture of Safestore and The Carlyle Group has acquired the six-store portfolio of Belgian self storage provider Lokabox, according to Commercial Property Executive.
The properties are situated in Brussels, Liege, Charleroi and Nivelles and total about 222,000 square feet of rentable space. The Carlyle Group has an 80% stake in the joint venture through Carlyle Europe Realty, a $605 million pan-European real estate fund. Safestore will hold the balance. Safestore is the U.K.’s largest self storage provider, with 126 locations there, as well as 28 in Paris and four in Barcelona.
Vale joins Berkshire Hathaway
Cameron Vale has joined Greenville, South Carolina-based Berkshire Hathaway Storage Group as senior vice president. Vale was previously senior vice president with SkyView Advisors.
StorageAuctions releases Timeline Guarantee
StorageAuctions has released its Timeline Guarantee. The Timeline Guarantee helps storage facilities navigate the lien sale process and ensures that the appropriate steps and time frame have been followed in accordance to their state laws to have a legal auction.
The platform prevents facilities from conducting a wrongful sale that does not follow the state’s legally required notice and sale timeline.
Tenant releases digital ID verification for storage
Tenant Inc. has released a marketing website solution called Mariposa, which offers a more sophisticated contactless option for renting self storage online.
Mariposa marketing website technology integrates with Tenant Inc’s software offerings, with the addition of its proprietary property management software, Hummingbird. Mariposa and Hummingbird bring Touchless Rentals™ and the first and only digital identification verification in the self storage industry.
Digital ID verification for Mariposa marketing websites will utilize a 128-point digital identification verification system and facial recognition to instantly authenticate a renter’s identity securely.
SkyView brokers Comfort Storage
SkyView Advisors brokered the sale of Comfort Storage in Punta Gorda, Florida, to Strategic Storage Trust IV
Richard Riddle, senior vice president, and Ryan Clark, director of sales, represented the seller.
Comfort Storage is located at 3811 Tamiami Trail on 7.89 acres. It houses a total of 106,169 net rentable square feet and 800 total units.
The project was completed in September 2018. It includes an interior drive-thru and climate-controlled units.
SST IV opens JV project in Toronto
Strategic Storage Trust IV, Inc. has opened its first property in the Greater Toronto Area. The new SmartStop® Self Storage location is located at 145 Wicksteed Ave. in East York. It was developed as a joint venture between SST IV and SmartCentres REIT, one of the largest real estate investment trusts in Canada.
This represents the second operational self storage joint venture between SmartCentres and affiliates of SmartStop, and the first completed ground up development project.
The three-story development is located in the Leaside community. The property offers 1,000 units and 100,000 square feet of climate controlled self storage.
, All From 1 Supply
, Broad Spectrum Disinfectant
, Brookwood Properties
, Bellomy & Co.
, Talonvest Capital
, Berkshire Hathaway Storage Group
, Tenant Inc.
, SkyView Advisors
, Comfort Storage
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