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16

Transactions and Deals: July 16, 2021

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Transactions and Deals: July 16, 2021

Talonvest Negotiates Portland Loan

 

Talonvest Capital, Inc. and its client, Get Space, LLC, closed a $16 million, 10-year, fixed-rate loan secured by two self storage facilities in Portland, Oregon, and Vancouver, Washington. The Talonvest team included Erich Pryor, David DiRienzo, Jim Davies, and Tom Sherlock. 

 

 

Arkansas Town Considers Storage Limit

 

The City of Benton Arkansas is considering limiting self storage businesses from being built. If fully approved, by the Benton City Council, the motion will change the zoning matrix to limit storage, requiring a conditional use permit.

 

Andover Buys Raleigh Storage

 

Andover Properties, LLC acquired Capital Boulevard Storage in Raleigh, North Carolina, marking its fourth acquisition in the Raleigh-Cary MSA and eighth facility in the state. The property will be rebranded to Storage King USA.

 

Illinois Shopping Center to Convert

 

The Palatine, Illinois, plan commission approved a self storage center in the Park Place Shopping Center, according to the Daily Herald. The suburban Chicago shopping center is owned by North American Real Estate. Roc Inc. has approached U-Haul to become the tenant.

         

U-Haul Pursues Maryland Zoning Change

 

U-Haul has filed a request with Rockville, Maryland, for a zoning change to permit self storage on property zoned as MXE, mixed-use employment zone. U-Haul wants to install self storage in an office building. Self storage in MXE zones were eliminated in 2019 and storage became a conditional use.

 

Diversified Partners with Coast-to-Coast

 

Commercial real estate developer Diversified Properties has entered into an agreement with Coast-To-Coast Storage to identify favorable self storage development sites throughout the New York metropolitan area. Coast-To-Coast Storage provides due diligence, consulting, feasibility studies and site selection, among other services, for the self storage industry.

 

Brookwood Opens in Louisiana

 

Brookwood Properties of Baton Rouge, Louisiana, has opened a storage facility in Kenner, Louisiana. Life Storage Inc. manages the property.

 

Storage One Sells in South Carolina

 

Berkshire Hathaway CRE brokered the sale of Storage One in Summerville, South Carolina. The seller was a private investor, and the buyer was a Charlotte, North Carolina, private equity firm. Parker Sweet and Cameron Vale represented the seller and secured the buyer.

 

Marcus & Millichap Brokers Indiana Storage

 

Marcus & Millichap brokered the sale of Hawk Self Storage in Sheridan, Indiana. Jeffrey L. Herrmann, Sean M. Delaney, Scott D. Harris, and Samuel McCarthy had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was a limited liability company. Josh Caruana was broker of record in Indiana.

 

Janus Launches Facilitate

 

Janus International Group, Inc. now offers Facilitate, which provides holistic services for optimizing and maintaining self storage facilities while also offering a planned maintenance program to help offset the costs of repairs. David Alexander is the head of the new division.

 

Illinois Kmart to Convert to U-Haul

 

AMERCO Real Estate Company plans to buy a former Kmart in Macomb, Illinois, according to Tri States Public Radio. AMERCO will convert it to U-Haul self storage.

 

 

 

 

 

| Categories: | Tags: Talonvest Capital, City Council, Storage King, U-Haul, Mixed Use, Zoning, Diversified Properties, Brookwood Properties, Storage One, Hawk Self Storage, Janus International Group, AMERCO, Kmart | View Count: (149) | Return

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