CushWake Leads Deals

 

Cushman & Wakefield brokered the following deals:

The $39.5 million sale of three self storage properties located in Gilbert and Phoenix, Arizona. Devin Beasley, Luke Elliott and Mike Mele represented the sellers, WDP Partners and Titan Development/TDREF I, in the transaction. Barker Pacific Group acquired the properties, which were built in 2019 and 2020.

The sale of Tulsa Hills Storage in Tulsa, Oklahoma. Brokers Trey Hammond, Mele and Elliott represented the seller and the buyer, which are private investors.

 

Partners Focus on NYC’s Flatiron District

 

Ramrock Real Estate and self storage development firm Mequity Companies plan to convert four-story parking facility in Manhattan’s Flatiron District, according to Commercial Observer.

Cerberus Capital Management has provided $35.1 million in debt to the joint venture. Mequity bought the building in March 2019 for nearly $32.2 million. The property will be operated by CubeSmart.

 

Industry Supports Texas Storm Victims

 

Houston-based The Jenkins Organization’s will offer 30 days of free storage to Texans affected by ruptured water pipes and damaged homes due to the winter storm. The offer is good at any of the 39 locations of Premium Spaces.

U-Haul is offering 30 days of free self storage and U-Box container usage to Texas residents across the entire state impacted by the ongoing winter storms and widespread power outages.

 

Long Island Life Storage Opens

 

A new Life Storage facility has opened in Lawrence, New York, according to LIHerald.com. Owner Alex Catalano, who worked with LSC Development and Amenity Self-Storage Holdings.

 

PSA Plans Minnesota Development

 

The Eagan, Minnesota, City Council has approved a variance to allow a new multi-story Public Storage facility, according to SunThisWeek. The facility will sit on the site of a former Mexican restaurant that was torn down in August.

 

Life Storage Opens in Ontario

 

Powerhouse Properties, Ltd. opened a new self storage facility in the Town of Mono, Ontario. The Bluebird branded property will be managed by Life Storage, Inc.

 

Charity Storage Retains Sponsor

 

Best Self Storage Insurance will continue its yearly sponsorship of Charity Storage at the sustainer level of $3,000. Best Self Storage Insurance is owned by Mario Macaluso, a member of the Charity Storage board of directors. Charity Storage distributes 90% of all auction funds to qualified charity beneficiaries. 

 

Hampshire Opens New Jersey Facility

 

New Jersey-real estate investment firm The Hampshire Companies, has completed a new self storage facility in Perth Amboy, New Jersey. Extra Space Storage will manage the property. The Hampshire Companies has four self storage development projects underway across New Jersey and New York.

 

Midcoast Sells North Carolina Storage

 

Midcoast Properties Inc. brokered the sale of Renegade Storage in Murphy, North Carolina. Midcoast Properties represented the seller, with Bobby Moss as lead broker. The facility was sold to a partnership of investors.

 

Eagle Plans Storage Near Asheville

 

Eagle Self Storage plans to open a fourth location in Henderson County, North Carolina, according to BlueRidgeNow. Eagle proposes seven buildings.

 

Tulfra Sells to Columbia

 

Tulfra Real Estate sold a self storage building in Rochelle Park, New Jersey, to Columbia Storage Group. The project is part of a development that includes apartments, retail and a park, all developed by Tulfra.

Kevin Welsh, executive managing director and Brian W. Schulz, managing director of Newmark-Capital Markets, were the brokers.

 

Partnership Targets Germany

 

Private placement group MARCOL and alternative investment firm Angelo Gordon have launched Space Plus, a new joint venture in the German self storage market. Space Plus is headed by European self storage veteran Russell Jordan.

With a plan to invest 250 million euros in off-market opportunities across Germany, Space Plus targets underperforming retail and commercial assets in high visibility locations that will benefit from redevelopment. To date, the company has acquired five assets for redevelopment.