Transactions and Deals: November 23,2020
posted on 11/23/2020 8:37:00 AM
ARCO/Murray finishes New Jersey storage
ARCO/Murray has completed construction of a new self storage facility in Rochelle Park, New Jersey. ARCO/Murray provided design-build services. Tyler Jones was the project manager, and Dennis Bruce was the superintendent.
Life Storage in Arizona lease-up
1784 Capital Holdings, LLC opened a self storage facility in Scottsdale, Arizona, in late October. The facility will be managed by Life Storage, Inc.
NSA buys in Texas
National Storage Affiliates Trust acquired Central Blvd. Mini RV and Boat Storage in Brownsville, Texas, from a private investor. It will be rebranded as Move It Storage.
The seller was represented in the transaction by Johnny Blue Craig, regional director, Austin McLeod, associate, and Bill Pedersen, market leader, for Matthews Real Estate Investment Services.
DaVinci Lock hits milestone
The DaVinci Lock system has surpassed the milestone of 500 self storage companies using the platform. The DaVinci Lock is a controlled access system that provides a self service pathway for a renter to remove an overlock once their delinquent payment is made. The system is also used to secure vacant units and automatically provides the unlock combination code to the renter when the customer rents a unit.
Starting in November, Sitelink clients will have the unlock combination codes automatically texted to their renters when both delinquent payments are made and when a new or existing customer rents a new unit.
Fresno facility changes hands
Cushman & Wakefield arranged the sale of a self storage property in Fresno, California for $7.1 million.
Greg Wells, Mike Mele, Luke Elliott and Devin Beasley of Cushman & Wakefield’s Self-Storage Advisory Group represented the seller, Fig Garden Self-Storage Park, LLC. BCORE Storage Weber, LLC, acquired the property.
Marcus & Millichap transacts in Texas
Marcus & Millichap has brokered the following transactions:
The LeClaire-Schlosser Group closed the sale of Medina Lake Mini Storage in Lakehills, Texas. Brett Jackson, investment associate, and Adam Schlosser, senior vice president investments, had the exclusive listing to market the property on behalf of the local seller. The buyer was a local private self storage investor.
Arol Horkavy and Jon Danklefs, investment specialists, had the exclusive listing to market and sell Permian Storage in Odessa, Texas. The seller was a limited liability company.
Lodge secures Illinois financing
Lodge Financial secured purchase financing for a self storage facility in Huntley, Illinois. The recently built property is currently in a lease up period with occupancy at 30 percent. Lodge’s Matt Bowker closed the $6 million loan.
U-Haul expands in New Hampshire
U-Haul Moving & Storage of North Nashua has expanded its facility in North Nashua, New Hampshire. The company purchased the facility in 2019.
U-Haul plans a second phase of construction to add more units.
, New Jersey
, Life Storage
, Move It Storage
, National Storage Affiliates
, DaVinci Lock system
, Cushman & Wakefield
, Marcus & Millichap
, Lodge Financial
, U-Haul Moving & Storage
, New Hampshire
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