Transactions and Deals: December 12, 2020
posted on 12/12/2020 8:10:00 AM
South Carolina storage trades hands
Eagle One Self Storage in Columbia, South Carolina, has sold for $2.55 million. Cameron Vale and Parker Sweet of Berkshire Hathaway, represented the seller, Eagle One Self Storage LLC, and secured the buyer, Jefferson Home Builders LLC, in the transaction.
Self Storage Plus expands
Self Storage Plus has expanded its management portfolio in the greater Washington, D.C. area to include properties in Ashburn and Sterling, Virginia. The properties are owned by affiliates of Arcland Property Company.
Florida conversion proposed
A developer has submitted plans to convert a former Toys 'R' Us building in Bradenton, Florida, to self storage, according to the Herald-Tribune. The storage facility will include a former tire shop once connected to the store.
Go Store It converted the Sears building nearby to self storage in recent years.
Mini-West Storage has expanded its facility in Corsicana, Texas, according to the Daily Sun. The project was completed by Advantage Construction and Forge Building Company.
CSSA names new board members
The California Self Storage Association has named its 2021 board of directors. Jeff Higashi, president of the Western division self storage with Janus International, will serve as chair, and Josh Miller , COO of Storland, will be vice-chairman. Other officers include Nick Walker, executive vice president of investment properties of CBRE, is secretary, and Byung Cho, director of acquisitions & development with Metropolitan Investments, is treasurer.
Matt Garibaldi, president of Storage Star, and Gary Sugarman, principal and COO of The William Warren Group, are new board members.
Kure It surpasses $10 million
The Kure It Cancer Research Annual Rivals Golf Tournament was held November 6 at Pelican Hill Golf Club in Newport Coast, California.
The sold out tournament included 144 socially distanced golfers. Kure It hit a major milestone raising a total of $10 million to fund cancer research.
Kure It was founded by Barry Hoeven of Westport Properties in 2007 after his diagnosis with kidney cancer.
SSTIV goes North
Strategic Storage Trust IV, Inc. has completed construction of a new self storage facility in Brampton, Ontario, Canada, in partnership with SmartCentres Real Estate Investment Trust. It’s the second ground-up development between the two.
Metro bets on Minnesota
Metro Storage plans to build a new self storage facility on a vacant lot in Eagan, Minnesota, according to Hometownsource.com.
The facility will be on a former gas station property and a residential lot, so the developer needs a preliminary subdivision approval to combine the lots.
Port Angeles portfolio trades
Marcus & Millichap brokered the sale of the Angeles & Bayview Mini Storage portfolio in Port Angeles, Washington.
Christopher R. Secreto, senior managing director investments at the firm’s Seattle office, and Tru Petrilli of the firm’s self storage division, had the exclusive listing to market the property on behalf of the seller, a private investor based in Washington. The buyer was a limited liability company also based in Washington.
Manhattan Mini serves the season
Manhattan Mini Storage in New York City is offering a solution for hiding presents and gift wrapping, a task that’s more challenging this year with everyone at home. Through the Package Acceptance program, customers may ship their gifts directly to a Manhattan Mini Storage location and pick them up at a scheduled time. MMS is also partnering with NYC Gift Wrapping Studio, a minority and woman-owned business based in New York City, to have customers’ packages wrapped before taking them home. The gift wrapping is complimentary with a suggested donation to benefit The Actors Fund, which helps support performing arts and entertainment professionals in New York and across the country.
PSA closes Beyond portfolio
Public Storage closed the first phase of its acquisition of the Beyond Self Storage portfolio. The portfolio comprises 36 properties which Public Storage has agreed to acquire for $528 million. The first phase includes 24 existing properties with an average occupancy of 35%. The second phase includes 12 properties in various stages of development that Public Storage will acquire upon completion in 2021.
Since 2019, Public Storage has expanded its portfolio by about 13.9 million net rentable square feet.
Capco makes season bright
Capco General Contracting completed its annual Angel Tree toy drive benefiting the Salvation Army. The Angel Tree program aims to ensure that children in San Antonio, Texas, have a gift underneath their tree on Christmas morning. This year’s goal was to adopt 100 angels with the help of employees, clients, suppliers and subcontractors.
Amy’s Attic opens in Waco
Amy's Attic Self Storage has opened its newest location in Waco, Texas. It is the eighth storage facility locally owned and operated by Amy's Attic Self Storage in Central Texas. Amy's stands for "Always Minding You."
Janus unveils line of doors
Janus International has introduced a full line of Asta America rolling steel doors for commercial and industrial applications. The line comprises a variety of models, sizes and options, including slat doors, fire-rated doors and shutters, counter shutters, rolling grilles, and heavy-duty and insulated service doors.
In a related move, Janus has also expanded its manufacturing capabilities to include powder coating and polyurethane insulation. Powder coating will allow the company to create Asta doors in virtually any color, while insulation offers thermal efficiency.