Marcus & Millichap Advises on Sales

 

Marcus & Millichap brokered the following sales:

• Extra Space Storage in Chicago Heights, Illinois. Gabriel Coe and Brett R. Hatcher, investment specialists in the Columbus office, and Sean M. Delaney, investment specialist in the Chicago Oakbrook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was a first-time storage buying who made the purchase through a 1031 exchange. Extra Space will continue to manage the property.

• A3 Storage Centers in Cedar Park, Texas. The buyer was Montfort Capital Partners LLC, secured and represented by Jon Danklefs in the San Antonio office.

• D’Iberville Self Storage in D’Iberville, Mississippi. Matt Porter, associate with the Williams Storage Group of Marcus & Millichap’s Memphis office, represented the property seller and procured the buyer.

 

Bellomy Represents on Two Deals

 

Bellomy & Co. brokered the following sales:

• Hawkeye Storage in Red Oak, Iowa. Bill Bellomy and Michael Johnson represented THR Storage, LLC, the seller, and the buyer, Dougherty Storage LLC.

• I-35 Storage in Burleson, Texas. Bellomy and Johnson represented 2121 Burleson Storage, LLC, the Austin, Texas-based seller. Aaron Palmer of Modern Mountain Real Estate represented the Raleigh, North Carolina based buyer, 10 Federal.

 

EquiCap Moves Michigan Properties

 

EquiCap Commercial brokered the closing of five National Storage Centers in the Grand Rapids and Detroit, Michigan, markets. Jesse Luke of EquiCap Commercial represented the buyer, VanWest Partners. The National Storage Centers-managed stores are in Shelby Township, Warren, Belmont, Rockford, and Comstock Park.

 

REITS Schedule Earnings Calls

 

Self storage’s largest public REITs will announce financial results for the first quarter of 2021 at the end of the month.

• Extra Space Storage (NYSE: EXR) will release financial results for the three-month period ended March 31, 2021 after the market close on April 28, 2021. An accompanying conference call will be held at 1 pm ET on April 29.

• CubeSmart (NYSE: CUBE) will release financial results on Thursday, April 29, and hold a conference call at 11:00 a.m. ET on Friday, April 30.

• National Storage Affiliates will release results on May 4 and hold a conference call on May 5 at 1 pm ET.

• Life Storage Inc. (NYSE: LSI) will release results on May 4 and hold a conference call on May 5 at 9 am ET.

At publication, Public Storage (NYSE: PSA) had not yet released its scheduled call.  

 

New Texas Storage Opens

 

A-Affordable Storage RV, Boat and Personal Storage - Weatherford has opened in Weatherford, Texas. The property is owned by Mitch Breeden.

 

Spartan Aims to Expand Alabama Storage

 

Spartan Investment Group has plans to double the square-footage of A Space Place in Huntsville, Alabama. The Huntsville City Council is due to vote soon, according to the Huntsville Item. The facility opened in 2004.

 

Storage Group Partners with Harbor

 

The Storage Group is partnering with Harbor Storage Group to provide consulting on value pricing strategies, data analysis and rate increase cycles. The Storage Group is a digital self storage marketing firm. Harbor Storage Group is a third-party management firm.

 

National Buyer Lands South Carolina Storage

 

Midcoast Properties, Inc. brokered the sale of two self storage facilities located in Elgin and Blythewood, South Carolina. Midcoast Properties represented the seller, with Michael Morrison as lead broker. The facilities, formerly operating as StorNGo, were sold to a national buyer.

 

Meridian Brokers Georgia Sale

 

Meridian Storage Group brokered the sale of 80 East Storage in Statesboro, Georgia. Patrick Kidder, president, and Ken DeVaul, senior associate, represented the seller, a private owner, and secured the purchaser, a private buyer. Meridian Storage Group is based in St. Petersburg, Florida.

 

Partners Develop Knoxville Storage

 

Miller-Valentine Group and Coastal Storage Group will develop a self storage facility in East Knoxville, Tennessee. The project is scheduled to open in spring of 2022. Extra Space Storage will oversee lease-up and property management.

 

StorageMart Grows in Florida

 

StorageMart has acquired a facility in West Melbourne, Florida. The facility was previously branded as CubeSmart Self Storage.