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11

Transactions and Deals: February 12, 2021

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Transactions and Deals: February 12, 2021

IRE Brokers Northeast Sales

 

York, Pennsylvania-based Investment Real Estate, LLC brokered the sale of two self storage facilities in New Jersey and Pennsylvania. The facilities are Haynes Run, a self storage facility in Medford, NJ, and Storage Mall – Johnstown in Johnstown, PA.

 

 

 

U-Haul Releases Results

 

AMERCO (Nasdaq: UHAL), the parent of U-Haul International, Inc., reported results for its third quarter ended Dec. 31, 2020. Net earnings available to shareholders were $183.0 million, or $9.33 per share, compared with net earnings of $30.9 million, or $1.58 per share, for the same period last year.

Self storage revenues increased $16.3 million, or 15% during the third quarter of fiscal 2021, compared with the third quarter of fiscal 2020. The average monthly number of occupied units increased by 20%, or 65,000 units, during the third quarter of fiscal 2021 compared with the same period last year.

 

VanWest Acquires Two

 

VanWest Partners acquired two self storage facilities through its newest fund, VanWest Self Storage Fund II, LLC. The facilities are Rome Hilliard Self Storage in Columbus, Ohio, and Betta Stor-It in Mary Ester, Florida.

VanWest plans to rebrand both facilities under its ClearHome Self Storage management platform.

 

Personal Mini Grows in Florida

 

Personal Mini Storage has acquired its 46th location. The facility was formerly known as AAA Storage of Brevard. It is located in Palm Bay, Florida, and is set to be rebranded in the coming weeks.

 

Developer Plans Pennsylvania Project

 

Strategic Development Group, LLC has closed on a building site in Lansdale, Pennsylvania and plans to convert a building to self storage. The building is to be designed and built by Storage Contractors of York, PA. 180 Self-Storage, LLC, a self storage management and consulting company based in Gilbert, Arizona, is providing the construction management and third-party management of the property. Strategic Development Group is an Arizona limited liability company.

 

Ventura Storage Sells to Right Space

 

The LeClaire-Schlosser Group of Marcus & Millichap brokered the sale of Casitas Self Storage in Ventura, California. Keith Phillips, investment associate in the Encino, California office, and Adam Schlosser, senior vice president investments, in the firm’s Denver office, had the exclusive listing to market the property on behalf of the seller, a local LLC. The buyer was Right Space Storage, a Participating Regional Operator of the REIT National Storage Affiliates.

 

ASM Adds 3 to Management

 

Absolute Storage Management has begun management of three additional facilities located in Missouri, Arkansas and Tennessee.

In mid-December, ASM began manage of Steward Self Storage in Saint Peters, MO. St. Peters Self Storage LLC purchased the facility in December.

In Wynne, AR, Wynne Properties Group, LLC purchased Handy Mini Storage.

In Murfreesboro, TN, WH Storage Partners, LLC purchased Walter Hill Storage and partnered with ASM for management.

 

Foundry, ADEVCO Open Georgia Storage

 

Foundry Investment Group and ADEVCO Corporation completed the development of a self storage facility in Warner Robins, Georgia.

Life Storage, Inc. will manage the facility.

Griffco Design/Build, Inc. was the general contractor, and Stinard Architecture, Inc., and Contineo Group, LLC, provided architectural services. 

 

Lease Customization Feature Released

 

The Storage Group has released two new eSign lease customization features that provide facilities the option to opt for one lease to cover multiple units or customize leases on a unit-by-unit basis. The eSign customization feature also allows facilities to offer digital leases independently of their property management software. The eSign lease options will be provided to facilities digitally through the online rental tool, ClickandStor® Online Rental Suite.

 

Barker, Artemix Bet on Phoenix

 

A joint venture between Barker Pacific Group and Artemis Real Estate Partners has acquired three, newly built self storage properties, two in Gilbert and one in Tramonto in North Phoenix, Arizona. The joint venture now owns four self storage facilities together in the Phoenix market.

 

 

 

 

 

 

| Categories: | Tags: Investment Real Estate, U-Haul International, Phoenix, ClearHome Self Storage, Personal Mini Storage, Strategic Development Group, LeClaire-Schlosser Group, Absolute Storage Management, Foundry Investment Group, ClickandStor® Online Rental Suite, The Storage Group | View Count: (318) | Return

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