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18

Transactions and Deals: June 18, 2021

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Transactions and Deals: June 18, 2021

Headwaters, PSG Sell to Extra Space 

 

Big Cypress Capital, through its Headwaters Strategic Operator Platform, and partner PSG have sold a newly completed CubeSmart facility in District Heights, Maryland, to Extra Space Storage for $18.2 million.

 

Andover Completes Two Buys

 

Andover Properties has made the following acquisitions:

  • Liberty Hill Storage in Liberty Hill, Texas. Parker Sweet, Cameron Vale, and Josh Cato of Berkshire Hathaway CRE represented the private seller and secured the buyer.

  • CubeSmart Self Storage in Phoenix, Arizona.

 

Alabama Celebrates Trachte’s Expansion

 

Trachte Building Systems plans to expand its Roof Mart facility in Northwest Alabama and create 70 new jobs over the next three years. Sun Prairie, Wisconsin-based Trachte plans to invest $11.5 million in building improvements and machinery at the Vernon, Alabama, plant. Trachte acquired Roof Mart LLC in December 2020. Alabama Governor Kay Ivey praised the expansion.

 

Emerson Joins StoreEase Virtual Management

 

Damon Emerson has joined StoreEase Virtual Management as director of sales. Emerson joins StoreEase from StorSmart/Bader Insurance.

 

SkyView Brokers San Antonio Sale

 

SkyView Advisors brokered the sale of Extra Space Storage in San Antonio, Texas. SkyView's Zachary Urow and Ryan Clark represented the seller.

 

Staten Island Gaining New Storage

 

Two self storage facilities are under construction on Staten Island, according to SILive.com One is a Life Storage project in Elm Park. The second is a CubeSmart-branded project owned by Abington Square Partners.

 

Andover Adds 5-Property Portfolio

 

Andover Properties purchased a five-property portfolio of self storage facilities in the Dallas/Fort Worth MSA in the cities of Aubrey, Crowley and Wylie. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Dallas, Texas-based seller and procured the buyer.

 

North Carolina Mall Converting

 

Rochester, New York-based Mustard Street Management has purchased a portion of the Lenoir Mall in Lenoir, North Carolina, with plans to convert it to self storage, according to the Lenoir News-Topic. CubeSmart Self Storage will brand and manage the property. 

 

HowsMyStore Adds Leadership

 

Kevin Laurinaits has joined HowsMyStore as business development manager. HowsMyStore is a platform that provides real-time facility status and alerts to self storage facility owners, operators, and store managers.

 

Marcus & Millichap Brokers Deals

 

Marcus & Millichap brokered the following sales:

  • Dona Ana Storage in Las Cruces, New Mexico. Thomas Parsons, Adam Schlosser and Matthew Reeves marketed the property on behalf of the seller. Haggar Group, which owns the StorWise Self Storage brand, was the buyer.

  • Puro and All Star Mini Storage, two self storage facilities in Peoria, Illinois. Anne Williams and Marla Čolić had the exclusive listing to market the property on behalf of the seller, a private investor and secured the buyer.

  • Life Storage in San Antonio, Texas. Jon Danklefs represented the undisclosed seller and procured the buyer, a joint venture between Montfort Capital Partners LLC and Blue Vista Capital. Life Storage will continue to manage the property.

 

Minnesota Town Restricts Development

 

Following a year-long moratorium, the Bloomington, Minnesota, city council unanimously approved an ordinance restricting where self storage can be developed.  The council’s ordinance is more restrictive than initially drafted and counter to the Planning Commission’s recommendation, according to HomeTownSource.com.

 

Westport, Invesco Team Up in Colorado

 

Invesco Real Estate and Westport Properties acquired a self storage facility in the Denver suburb of Castle Rock, Colorado. US Storage Centers will brand and manage the property.

 

Garver Opens Maryland Self Storage Plus

 

Self Storage Plus has opened a facility in a former Pikeville, Maryland, printing plant. The owner is Garver Development Group.

 

Developer, Life Storage Converting Plant

 

Boxes Builders, a self storage developer based in Greenwood, Indiana, plans to convert the former Greif Inc. packaging plant in Tonawanda, New York, into storage, according to The Buffalo News. The project is a partnership with Life Storage, which will brand and manage the facility.

 

Montgomery Buys Two in Texas

 

Montgomery Self Storage acquired two properties in Conroe and Magnolia, Texas, according to Community Impact. The two properties have been rebranded as Montgomery Self Storage-Lake Conroe, and Montgomery Self Storage-Magnolia.

 

Storage Units Opens in South Carolina

 

Storage Units has opened in Aiken, South Carolina, owned by Storage Units of Aiken LLC, according to Yahoo News. Adams Property Group LLC of Charleston is the third-party manager.

 

 

 

 

 

 

| Categories: | Tags: Big Cypress Capital, Andover Properties, Trachte Building Systems, SkyView Advisors, Lenoir Mall, HowsMyStore, Marcus & Millichap, moratorium, Self Storage Plus, US Storage Centers, Boxes Builders, Storage Units | View Count: (530) | Return

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