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Transactions and Deals: July 9, 2021

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Transactions and Deals: July 9, 2021

Berkshire Hathaway Brokers North Carolina Deal


Berkshire Hathaway CRE brokered the sale of a self storage portfolio with locations in Shelby and Hickory, North Carolina. Parker Sweet and Cameron Vale represented the private seller and private buyer.


Pegasus Group’s Davis Passes Away at 77


Dwight Davis, co-CEO of Pegasus Group in Walnut Creek, California, passed away June 20 at the age of 77.

Davis, AKA “Big D,” started Pegasus Group with Bill Schmicker in 1988. Between 1988 and 1994, Pegasus Group purchased over 60 projects. Pegasus Group owns and operates under the Central Storage brand.

Davis served on the board of the Self Storage Association. He is survived by his wife, Glee Ann, children and grandchildren. 


Meridian Active in Florida, Texas


Meridian Storage Group brokered the following sales:

Beal Parkway Self Storage in Fort Walton Beach, Florida. Patrick Kidder represented the seller, and secured the purchaser, an international investment firm.

A two-property portfolio in Texas that includes Katy Personal Storage in Katy, Texas, and A-Mini Storage in Beaumont, Texas. Ken DeVaul and Kidder represented the seller, a private investment group, and secured the purchaser.


Marcus & Millichap Manages Sales


Marcus & Millichap brokered the following sales:

  • Storage Authority in Mulberry, Florida. Nathan Coe, Meir Perlmuter, Brett R. Hatcher and Gabriel Coe, had the listing and brought the buyer. Ryan Nee assisted.

  • MVP Storage, a two-property portfolio in Sheboygan, Wisconsin. Sean M. Delaney and Paul Robertson had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was a limited liability company. Todd Lindblom was broker of record in Wisconsin.

  • Brookside Mini Storage in Kingsport, Tennessee. The Williams Storage Group closed the sale with Anne Williams-Blackwell representing the private out-of-state buyer. Matthews Real Estate investment Services represented the seller, a local owner/operator.

  • A Gold Mine Storage in Sonora, California for $10.2 million. Daniel Kapic brokered the transaction, and Christopher R. Secreto had the exclusive listing to market the property on behalf of the seller, a limited liability company. Secreto also procured the buyer, a regional investor.


REITs Set Earnings Release


The public REITs are set to release earnings.

CubeSmart will release financial results for the three-month period ended June 30, 2021 after the market close on Thursday, July 29, 2021. An accompanying conference call will be at 11:00 a.m. EST on Friday, July 30.

Life Storage, Inc., will issue financial results on Tuesday, August 3 and conduct a conference call on Wednesday, Aug. 4 at 9 am EST.

Extra Space Storage will release financial results on Tuesday, July 27. The company will host a conference call at 1 pm EST on Wednesday, July 28.

National Storage Affiliates will release results on Tuesday, Aug. 3 and hold a conference call at 1 pm EST on Wednesday, Aug. 4.

Public Storage had not yet announced its earnings call.


All Seasons Set for Club Property


The Edenton, North Carolina, town council approved a special use permit for Tom Gandee’s All Seasons Self-Storage to build on former Boys & Girls Club property, according to the Chowan Herald. Gandee expects to begin construction this summer.


Jersey City Approves Storage Plan


Jersey City’s Planning Board approved a new self storage facility to be developed by Cresskill-based real estate investor Martin Lucibello near Liberty State Park., according to The development is in the Bergen-Lafayette neighborhood.


Extra Space Releases Sustainability Report


Extra Space Storage, Inc. published its annual sustainability report. Among its highlights: The company produced over 31 GWh’s of solar power in 2020 at over 400 locations. The company reduced consumption of energy by 9.4%, water use by 6.3%, and GHG emissions by 7.0%. Extra Space won NAREIT’s leader in the light award and was named the top-rated U.S. self storage company in environmental, social and governance (ESG) efforts by GRESB, S&P Global, and JUST Capital.


Diamond Point Plans New York Project


Diamond Point Development has proposed to replace an office and warehouse in Schenectady, New York, with a self storage facility, according to The Daily Gazette. The proposal needs site plan approval. Upon approval, construction would begin this fall with a summer 2022 opening.







| Categories: | Tags: Berkshire Hathaway, Dwight Davis, Meridian Storage Group, Marcus & Millichap, Earnings Release, All Seasons Self-Storage, Jersey City, Extra Space Storage, Sustainability, Diamond Point Development | View Count: (112) | Return

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