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22

Transactions and Deals: January 22, 2021

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Transactions and Deals: January 22, 2021

EDC Builds Storage Sense in Virginia

 

EDC has completed construction of its first Storage Sense facility. The facility is located in Charlottesville, Virginia. EDC is a commercial contractor in Midlothian, Virginia.

 

 

Orlando Storage Site Sold

 

The LeClaire-Schlosser Group of Marcus & Millichap brokered the sale of a development site for a self storage facility in Orlando, Florida. Charles "Chico" LeClaire, executive managing director investments, and Adam Schlosser, senior vice president investments, in the Denver, Colorado office, had the exclusive listing to market the property on behalf of the seller, Florida-based Flagship Companies Group. The buyer was Compass Self Storage, a member of the Amsdell family of companies. Construction will begin in February with an approximate delivery date of December 2021. 

 

San Antonio Storage Wins Approval

 

Dallenbach-Cole Architecture has received conceptual approval from the San Antonio, Texas, Historic and Design Review Commission for a new Life Storage facility. The design is based on the national master prototype for Life Storage and it incorporates requirements mandated by both the San Antonio River “Rio Overlay District” and the Westfort Historic District.      

 

Janus Company Strengthens Australia Offering

 

Steel Storage Australia, a wholly owned subsidiary of Janus, has acquired G&M Stor-More Pty Ltd, a provider of self storage design and construction solutions serving the Australasian market. The acquisition of G&M Stor-More, based near Sydney, Australia, will provide Steel Storage Australia with a stronger base in the key New South Wales market and enable Janus to enhance its product offering across Australia. 

Janus, a global manufacturer and supplier of turn-key building solutions and new access control technologies, is a Clearlake Capital Group portfolio company.

 

Westport Expands to Residential

 

Westport Properties Inc., which operates more than 130 US Storage Centers, has merged with Vertex Investments, a privately held real estate investment company specializing in multi-family properties and mobile-home parks nationwide. The merger will enable Westport to expand into the residential sector, with Vertex co-founders David Grissom and Scott McCormick serving as managing partners of Westport Residential, the company’s new vertical platform.

Vertex owns and manages seven multi-family properties comprising 638 units.

 

Extra Space Buys Knoxville Storage

 

Coastal Storage Group out of Charleston, South Carolina and Miller-Valentine Group based in Cincinnati brokered the sale of their Knoxville, Tennessee, location to Extra Space Self Storage. The facility was completed in August of 2019. 

Extra Space was already the third party manager of the asset.

Coastal Storage Group and Miller-Valentine are currently partnering on eight other facilities in Florida, Kentucky and Tennessee. 

 

Yardi: Street Rates Headed Up

 

Street rate performance continued to improve across the nation in December as self storage closed out 2020 with strengthening fundamentals, according to the Yardi Matrix National Self Storage Report.

National street rates for 10x10 non-climate-controlled units increased 3.5% in December on a year-over-year basis, and rates nationwide for 10x10 climate-controlled units grew by 2.3% year-over-year. While rates saw substantial growth on an annual basis, rates for both unit types remained flat month-over-month. Only Nashville and Minneapolis saw negative rate growth on an annual basis.


Janus Commits to Charity Storage


Janus International Group will increase its Charity Storage Sponsorship Level to Guardian at $5K per year. Janus is a global manufacturer and supplier of turn-key self storage building solutions including steel roll up and swing doors, hallway systems and premium relocatable storage systems.

 

Virginia Kmart Converting to Storage

 

Developer Jim Cherney will develop Fort Knox Drive-Thru Self-Storage at a former Kmart building in Danville, Virginia, according to GoDanRiver.com. The facility should open by the end of the year. The Kmart closed in 2018 and the building has been vacant.

 

Bulldog Storage Opens in Washington

 

Bulldog Self Storage has opened in the Stanwood Camano Village shopping center in Stanwood, Washington. The storage facility is located on the first floor of Cambridge Place, an apartment building.

The facility was developed and built by Grandview North, LLC, Arlington, Washington, and is owned by Grandview’s Bulldog Storage, LLC. It is managed by West Coast Self-Storage Group of Everett, Washington. 

 

ARCO/Murray Completes Guardian Storage

 

ARCO/Murray completed a self storage facility for Guardian Storage in Canonsburg, Pennsylvania.

ARCO/Murray provided a design-build solution including complete architectural, structural, MEP design, permitting, and construction. ARCO/Murray’s Chase Killingsworth was the project manager, and Andy Schwartz was the project superintendent.

 

Two Life Storage Open

 

Life Storage will operate two new self storage facilities in Virginia and North Carolina. SAFStor Inc. completed construction of a new self storage facility in Alexandria, Virginia, set to be managed by Life Storage, Inc.

Another Life Storage opened in Thomasville, North Carolina in October.  The Thomasville project was developed by LeoTerra Development Inc.

 

 

 

 

 

| Categories: | Tags: Storage Sense, Compass Self Storage, Dallenbach-Cole Architecture, Steel Storage Australia, US Storage Centers, Coastal Storage Group, Yardi Matrix, Charity Storage, Bulldog Self Storage, ARCO/Murray, Life Storage | View Count: (467) | Return

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