Transactions and Deals: April 30, 2021
posted on 5/1/2021 12:29:00 AM
Storage King Buys in Texas
Andover Properties, LLC has acquired Safety Deposit Self Storage in Kingsville, Texas, its eleventh acquisition in the state. The property will be rebranded as Storage King USA.
FreeUp is Spartan’s New Brand
FreeUp Storage is the name of the new national brand launched by Spartan Investment Group. FreeUp Storage will be rolled out at 10 self storage facilities and all future acquisitions across Texas, Arkansas, Georgia, Colorado, and Washington. Spartan plans to acquire $150 million in self storage facilities in 2021, which will inherit the FreeUp Storage name. Scott Lewis and Ryan Gibson founded Spartan Investment group in 2013.
Team Opens New Jersey Storage
Diversified Properties, The Hampshire Companies, and 1026 Real Estate Investors opened a new CubeSmart in Montville, New Jersey. Diversified Properties and its in-house construction team, Morris Construction Management, oversaw the development process. The Hampshire Companies and 1026 Real Estate Investors co-funded equity for the project.
Store Space Buys in Texas
CSD Realty brokered the sale of a self storage facility in Waco, Texas. Craig Rice and Cole Rice of CSD Realty represented the seller, Unlimited Storage LLC, and secured the buyer, Store Space Self Storage.
Chase Joined Talonvest
John Chase has joined Talonvest Capital, Inc. as senior director - business development. Chase is responsible for sourcing self storage and commercial financing assignments and will operate out of the firm’s new Annapolis, Maryland office. Chase has 35 years of experience in commercial real estate finance.
StorageMart Opens in Florida
Ackerman & Co. and Trout Daniel & Associates represented StorageMart in the acquisition of a CubeSmart Self Storage facility in West Melbourne, Florida.
David Paulson, Stephen Lapierre and Wyatt Whitaker of Ackerman Co., and Steven Cornblatt and Coleman Tirone of Trout Daniel & Associates brokered the purchase on behalf of StorageMart.
PSA Lauded for Culture
Public Storage was recognized by Comparably as one of the best places to work. Public Storage was among the top three large companies for Best Operations Department, top five as one of the Best Places to Work in Los Angeles, and ranked top 25 for Best Company Outlook. Public Storage has 5,000 employees.
Horizon Adds to Texas Holdings
Horizon Road Self Storage, LLC opened a new self storage facility in Rockwall, Texas. Life Storage, Inc. will manage the property.
ADEVCO Opens Georgia Store
ADEVCO Corporation and WePartner opened a self storage facility in Peachtree Corners, Georgia. The facility will be managed by Life Storage, Inc. WePartner, LLC, was the joint venture partner on the project, Polara Capital was a capital partner, and Woolard Attman Construction, Inc., was the general contractor.
Metro Bets on Minneapolis
Metro Storage LLC has opened a new storage facility in Coon Rapids, Minnesota, according to REJournals. This is Metro Storage’s eighth Minneapolis store.
Courtyard Portfolio Sells
Berkshire Hathaway Storage Group brokered the sale of the Courtyard Storage portfolio, which includes four locations in North Carolina and Virginia. Cameron Vale and Parker Sweet represented the buyer and the seller.
Bancap Brokers Inland Empire Sale
Bancap Self Storage Group brokered the sale of SS Mini Storage in Perris, California. Dean Keller handled the Inland Empire transaction.