Transactions and Deals: July 23, 2021
posted on 7/22/2021 1:03:00 PM
SVN Brokers New Jersey Portfolio
Nick Malagisi and Hans Hardisty of SVN’s National Self-Storage Brokerage and Consulting Council brokered a seven-property sale in New Jersey. The transaction included five large, stabilized properties built in the mid-1980s and two expansion projects.
PSA to Release 2Q Results
Public Storage will release second quarter 2021 earnings results on Tuesday, August 3, 2021. A conference call is scheduled for Wednesday, August 4, 2021, at 9:00 a.m. PDT to discuss the results.
Westport Adds Small Town Management
Westport Properties is the property manager for a self storage facility in Lancaster, California, that was recently acquired by Small Town Storage.
Chicago Suburb Rejects Storage Fee
The village board of suburban Chicago community of Mundelein, Illinois, rejected a proposal to charge a rental fee for self storage units in town, according to the Daily Herald. The fee was proposed to have been 5% of the gross rental charge for each unit. Mundelein has five self storage facilities in town.
Guardian Plans Allentown-Area Storage
Pittsburgh-based Guardian Storage intends to build a self storage facility in the Lower Macungie, Pennsylvania, township. The project is in the township’s highway commercial zoning district and the use is permitted by right.
SpareBox Grows in Waco
SpareBox Storage has acquired seven stabilized properties in Waco, Texas.
SpareBox’s national footprint includes 57 stores across Texas, Oklahoma, New Hampshire, South Carolina and Florida.
Indiana Storage Sells
Marcus & Millichap brokered the sale of Econo Self Storage in Cedar Lake, Indiana. Sean M. Delaney and Jeffrey L. Herrmann had the exclusive listing to market the property on behalf of the seller, a partnership, and represented the buyer, a limited liability company. Josh Caruana assisted.
Storage Construction Expands to Denver
Storage Construction has opened a new office in Denver, Colorado, to serve the western US. Storage Construction’s services include construction management, pre-construction consulting, and design. Stephen Rohrbach will manage the new office.
Bellomy Sells Austin CubeSmart
Bellomy & Co. brokered the sale of a CubeSmart in Austin, Texas. Bill Bellomy and Michael Johnson represented Bulldog I35 South, LP, the Dallas, Texas-based seller. The team also procured the buyer, PG Cactus Bulldog I LLC.
Corner Completes Florida Facility
Corner Storage Group completed construction of a self storage facility in Niceville, Florida. WLM Contracting was the general contractor. Life Storage, Inc. will manage the property.
Extra Space Hits 2000 Stores
Extra Space Storage, Inc. has added its 2,000th property. The company, which was founded in 1977 and went public in 2004, has doubled in store count since 2013.
Extra Space Storage now operates across 40 states and Washington, D.C.
Brookwood Taps Life Storage
Brookwood Properties has opened a new self storage facility in the New Orleans suburb of Kenner, Louisiana. Life Storage manages the property.
True Storage Converting JCPenney
New Hampshire-based True Storage will convert a former JCPenney building in Hanover, Pennsylvania, to self storage, according to the Hanover Evening Sun. True Storage received a special exception from the zoning board.
Tags: Sperry Van Ness
, Westport Properties
, Guardian Storage
, SpareBox Storage
, Econo Self Storage
, Storage Construction
, Bellomy & Co.
, Corner Storage Group
, Extra Space Storage
, Brookwood Properties
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