StorageMart to Acquire Manhattan Mini Storage

 

Columbia, Missouri-based StorageMart has entered into a definitive agreement to acquire Manhattan Mini Storage, subject to customary closing conditions. The purchase includes the entirety of the company’s 18 self storage locations throughout Manhattan, New York.

StorageMart, which was founded by the Burnam family in 1999, has locations across the United States, United Kingdom and Canada. Following the acquisition, the company said it will exceed 20 million net rentable square feet of storage and more than 200,000 storage units worldwide.

Citigroup served as the exclusive financial advisor to StorageMart. Kirkland & Ellis LLP served as legal counsel to StorageMart. Eastdil Secured served as the exclusive financial advisor to Manhattan Mini Storage.

 

Keepers Sells in New York Metro

 

SkyView Advisors brokered the sale of the Keepers Self Storage portfolio located in the New York-Newark-Jersey City metro area. The two-property portfolio is in Nyack and Staten Island, New York. Ryan Clark represented the seller in the transaction.

 

U-Haul Adding in New Mexico, Maryland

 

U-Haul Moving & Storage of Northrise is scheduled for completion in 2023 in Las Cruces, New Mexico. U-Haul acquired property in September to build the project.

U-Haul has acquired a self storage facility in Annapolis, Maryland, from Extra Space Storage. The asset is adjacent to a U-Haul property, which will allow the company to expand its existing location.

 

CubeSmart Releases Sustainability Report

 

CubeSmart issued its inaugural 2020 Sustainability Report. Highlights from the 2020 report include: introducing specific targets for sustainability goals across environmental, social, and governance initiatives; significant reductions in energy (9.8%) and GHG consumption (12.8%) and an increase in renewable energy generation (37%) in 2021, and a Code of Ethics, Conduct & Human Rights for vendors and suppliers to encourage sustainable behavior throughout the supply chain.

 

Self Storage Plus Grows in Virginia

 

Self Storage Plus acquired a facility in Fredericksburg, Virginia. Formerly managed by MyStorage, this facility brings Self Storage Plus to 51 locations.

The property was developed by Graham Real Estate.

 

Inland Portfolio Sells 34 Properties

 

Inland Private Capital Corp. sold a 34-property self storage portfolio for $265 million. Charles “Chico” LeClaire and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap marketed the portfolio. Prior to the sale, all facilities had been operating under the Metro Self Storage brand. The properties are in Texas, Kansas, Georgia and Tennessee.

 

Snapbox Moves into Georgia

 

Snapbox Self Storage has acquired its first self storage facility in the Atlanta market in Lawrenceville, Georgia. Snapbox is headquartered in Philadelphia.

 

Marcus & Millichap Brokers Deals

 

Marcus & Millichap completed the following sales:

• Byrd's Mini Storage portfolio in Gainesville, Georgia. The portfolio is four properties that sold for $5.95 million. Stacey Gorman had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Gorman and Sam Slocum.

• Mesa Storage in Odessa, Texas. Arol Horkavy and Jon Danklefs had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.