Transactions and Deals: May 14, 2021
posted on 5/13/2021 11:55:00 AM
Compass Completes Florida Location
Compass Self Storage has opened a newly constructed self storage facility in Jupiter, Florida. It is Compass’ 26th location in the state.
Compass Self Storage is a member of the Amsdell family of companies based in Cleveland, Ohio.
Safeguard Opens in Westchester
Safeguard Self Storage has opened a new facility in Larchmont, New York, in the Westchester market. It’s Safeguard’s 79th facility nationwide.
ASM Announces Q1 Results
Absolute Storage Management announced operating results for Q1 2021. Among the highlights: same store revenue increased 8.8% over the same period in 2020. Occupancy at the end of the period was 90.5%, a 6.4% increase over the same period in 2020. ASM achieved 14.2% same- store NOI for the quarter, with a 2% decrease in expenses. ASM acquired three management contracts.
Janus Names Nokē Leaders
Janus International Group, LLC has named Shane Self director of wireless networks for Nokē® Smart Entry and Jennifer Shaver is Nokē training & development manager
Janus is a portfolio company of Clearlake Capital Group, L.P.
U-Haul Plans Two Projects
U-Haul has purchased 4.49 acres in Goodyear, Arizona, and plans to build U-Haul Moving & Storage of Palm Valley. The facility is scheduled for completion by 2022.
U-Haul parent company Amerco Real Estate Co. plans to convert a roller skating rink in Lancaster, Massachusetts, to self storage. Amerco has purchased the former Roll On America building, according to Sentinel & Enterprise.
Right Move Grows Management
Right Move Storage, LLC will assume management of a five-property portfolio in Florida and Massachusetts. The properties are owned and developed by Farrell Storage.
1784 Refis New Facility
Talonvest Capital, Inc. secured a $22 million refinance loan for 1784 Capital Holdings on its storage facility in Scottsdale, Arizona. The property opened in October 2020. Team members responsible for the assignment included Jim Davies, Erich Pryor, David DiRienzo, Lauren Maehler and Tom Sherlock.
StorQuest Hits 200th Store
StorQuest Self Storage has reached the milestone of its 200th location. StorQuest is owned by the William Warren Group, Inc.
Safeguard Returns to Tampa
Safeguard Self Storage has returned to the Tampa/St. Petersburg market with its newest facility in Largo, Florida. Safeguard left the market in 2012.
Storage Welcomes Market to Property
Developer Jim Cherney of Cherney Development Co. and the owner of Fort Knox Drive-Thru Self-Storage in Roanoke, Virginia, intends to revive a community market on the facility grounds. Happy’s Flea Market operated for years on the site but closed in 2016. Cherney plans to re-open the event in June.
Cherney is also converting a Kmart in Danville, Virginia, to a Fort Knox location.
Garden Ridge Goes to Merit Hill
Marcus & Millichap brokered the sale of CF&M Storage in Garden Ridge, Texas.
Jon Danklefs, an investment specialist in the San Antonio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Merit Hill Capital completed the purchase of the property and selected CubeSmart as third-party manager.
Tags: Safeguard Self Storage
, Cherney Development Co
, Happy’s Flea Market
, Marcus & Millichap
, Compass Self Storage
, Absolute Storage Management
, Talonvest Capital
, Janus International Group
, Right Move Storage
, Cherney Development Co.
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