Rhode Island Developer Opens Life Storage

 

Taction Properties completed construction of a new self storage building in the Woonasquatucket River Corridor of Providence, Rhode Island.

The Robinson Green Beretta Corporation provided architectural services for the project, and Tavares LLC was the general contractor. Life Storage, Inc. manages the property. Taction Properties is a real estate development firm based in Providence.

 

Merit Hill Buys 2 Properties

 

Merit Hill Capital purchased two self storage facilities from a Las Vegas-based private investment group. The facilities are in West Columbia, South Carolina, and Hamilton, Ohio. Harold Kolbe of Southeastern Business Intermediaries, LLC, and Frank DeSalvo of Sands Investment Group represented the parties.

 

NSA Buys Oklahoma Storage

 

Cushman & Wakefield brokered the sale of Always Storage in Guthrie, Oklahoma.

Trey Hammond, Mike Mele and Luke Elliott of Cushman & Wakefield represented the seller, Always Storage, LLC. The buyer was NSA Property Holdings, LLC, an affiliate of National Storage Affiliates Trust.

 

Talonvest Handles Madison Capital Refi

 

Boutique real estate advisor Talonvest Capital orchestrated the $29 million refinance of Madison Capital Group’s four-property portfolio located in Arden, Asheville, Charlotte and Wilmington, North Carolina. Madison Capital operates Go Store It.

Talonvest negotiated the loan with a life insurance company lender and delivered non-recourse, 5-year fixed rate financing with no lease up covenants. 

The Talonvest team members responsible for this assignment included Kim Bishop, Eric Snyder, Mason Brusseau, Tom Sherlock, and Lauren Maehler. 

 

Janus Subsidiary Buys Competitor 

 

Steel Storage Australia Pty. Ltd., a wholly owned subsidiary of Janus International that provides self storage design and construction services to the Australia market, has acquired local competitor G&M Stor-More Pty. Ltd. The purchase will allow Steel Storage to establish a stronger base in New South Wales.

Based in Sydney, G&M has served the Australian self storage industry since 1997. Janus has been actively expanding, and earlier this month announced it would go public after a planned merger with Juniper Industrial Holdings Inc., a publicly listed special-purpose acquisition company.

 

Charlotte Developers Plan Business Storage

 

Storage Management Partners in Charlotte, North Carolina, has acquired the former Party Reflections building next to its Atlantic Self Storage facility, according to the Charlotte Business Journal. The owners plan to renovated the building and convert it to Atlantic Business Storage. 

 

Storable Recommits to Charity Storage

 

Storable will continue its support to Charity Storage at the benefactor level.

Charity Storage’s sponsors underwrite a large portion of the administrative and operational costs so that 90% of all auction proceeds are disbursed to qualified charities. 

Headquartered in Austin, Texas, Storable offers a suite of technology products to the self storage industry.

 

Texas SSA Makes Board Changes

 

The Texas Self Storage Association has announced some changes to its board of directors. Raheem Amer, senior vice president of operations for Devon Self Storage, joined as a new member of the board. Matt Janes, director of Rosewood Property Co., served as president for the 2019-20 term, and now sits on the executive committee as immediate-past president. Davis Deadman, a principal of Advantage Self Storage, completed a three-year term on the board.

 

Tennessee Storage Sells

 

Marcus & Millichap brokered the sale of Stor-alot Self Storage in Clarksville, Tennessee.

Anne Williams, first vice president investments in the Memphis office, had the exclusive listing to market the property on behalf of the seller, a local owner/operator. Williams also procured the buyer, a limited liability company.

 

Storage Group Releases Biometric Feature

 

The Storage Group has released SureScan™ ID Verification, an advanced security service offered through ClickandStor® Online Rental Suite, a contactless rental tool. SureScan™ ID Verification is one of the first ID verification technologies of its kind in the storage industry and will protect facilities from tenant misinformation. The biometric security feature gives facilities the assurance of knowing their tenants and that no misinformation has been provided.

The new security service has users upload their valid Driver’s License along with a recent photo of themselves. The Driver’s License is compared to a national database to confirm the identity of the user. Once confirmed, the recent photo is then compared to the photo on the Driver’s License. Once the photo is validated, the online rental is processed.

 

OMP Enters California Market

 

Overton Moore Properties opened its first self storage development in Newark, California. The property will be managed by Extra Space Storage. OMP acquired and developed the property in a joint venture with Invesco Real Estate.

 

JV Adds 3 in Phoenix

 

A joint venture between Barker Pacific Group and Artemis Real Estate Partners has acquired three, newly built self storage properties in Arizona, two in Gilbert and one in North Phoenix. These facilities join a November acquisition of a Life Storage to make up the joint venture’s portfolio in the Phoenix MSA.