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09

Transactions and Deals: December 9, 2021

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Transactions and Deals: December 9, 2021

ARCO/Murray Finishes LA

 

ARCO/Murray and Clark Investment Group have completed a new self storage facility in Eastvale, California, in the greater Los Angeles area. The project includes a custom mural commissioned by California artist Maxfield Bala.

 

 

 

NSA Surpasses 1,000 Stores

 

National Storage Affiliates Trust has surpassed the 1,000 store milestone. The company went public in 2015 with a portfolio of 246 stores in 16 states. Since then, NSA has more than quadrupled its store count while diversifying its presence across 40 states and Puerto Rico. In 2021, the company has acquired over 190 stores.

 

SmartStop Buys in Phoenix

 

Quantum Property Advisors brokered the sale of a self storage facility in Phoenix, Arizona, to SmartStop Self Storage. SmartStop paid $11 million for the facility developed by BE Storage. Norman Herd handled the transaction.

 

IRE Brokers A-Plus

 

Investment Real Estate, LLC brokered the following sales:

A-Plus Self Storage, LLC in Lenhartsville, Pennsylvania, to a private buyer.

Hillside Self Storage in Andover, Connecticut, to a private buyer.

 

Moove In Acquires Two

 

Moove In Self Storage has expanded its portfolio with the following acquisitions:

Back 9 Storage in York, Pennsylvania; Quality Care Self Storage properties in Coralville, North Liberty and Tiffin, Iowa; and Springfield Self Storage in Springfield, Massachusetts. All of the new assets will be managed by Investment Real Estate Management, LLC under the Moove In Self Storage brand.

 

IRE Makes Key Hires

 

Investment Real Estate, LLC has hired Wesley Benfer as acquisitions broker and Daniel VonBussenuis as project manager.

Wesley is responsible for sourcing, negotiating, and prospecting new acquisitions on behalf of IREGC. VonBussenuis is part of the construction and development department and is responsible for planning and overseeing projects.

 

TK Secure Sells in Utah

 

The LeClaire-Schlosser Group of Marcus & Millichap brokered the closing of TK Secure Storage in Logan, Utah. Jordan Farrer and Adam Schlosser represented the seller.

 

Andover Buys in Florida

 

Andover Properties, LLC acquired Maxi Self Storage in Naples, Florida. The property will be rebranded as the 29th Storage King USA in the state.

 

LSC Finishes Hell’s Kitchen Store

 

LSC Development, LLC completed construction of a self storage facility in Hell’s Kitchen, New York, New York. LSC Development is a real estate operating company based in Barrington, Illinois.

 

Devon Promotes Sharp

 

Devon Self Storage has promoted Harry Sharp to vice president – asset management. Sharp will continue to oversee all of Devon’s investor communications, assist with revenue management and produce financial models for acquisitions and financing.

 

Storage Acquisition Handles Deals

 

The Storage Acquisition Group brokered the following sales:

2424 Castleton Commerce Way in Virginia Beach, Virginia. Cowles M. “Monty” Spencer and handled the transaction.

CubeSmart managed self storage facility in Tampa, Florida. David Spencer and Monty Spencer negotiated the deal.

 

Georgia Storage Sold by Midcoast

 

Midcoast Properties, Inc. managed the sale of Vine View Storage in Social Circle, Georgia. Michael Morrison represented the seller. The buyer was local.

 

SkyView Brokers 8-Property Deal

 

SkyView Advisors managed the sale of Oak View Capital Partners portfolio, an 8-property self storage portfolio spread across Texas, Kansas and Missouri. Ryan Clark represented the seller.

 

Talonvest Funds New York Development

 

Talonvest Capital, Inc. structured an $11 million construction loan on behalf of GoodFriend Self-Storage and their institutional joint venture equity partner to finance the development of a self storage facility in Bedford Hills, New York. 

Talonvest is a boutique self storage and commercial real estate mortgage brokerage firm.

 

Berkshire Brokers Two Deals

 

Berkshire Hathaway brokered the following sales:

Extra Space Storage in Johnson City, Tennessee. Cameron Vale, Andrew Plunkett and Parker Sweet represented the private seller and secured the buyer, a private equity group.

StorQuest Self Storage in Arvada, Colorado. Vale and Sweet represented the private seller and security the buyer, a private equity group.

 

Mangat, Aberdeen Partner in Arizona

 

Mangat Group and Aberdeen Management & Development are developing an Arizona Self Storage facility in Peoria, Arizona. RKAA Architects designed the facility, and Campbell Development is building. Construction is expected to be complete in October 2022.

 

 

 

 

| Categories: | Tags: ARCO/Murray, National Storage Affiliates Trust, SmartStop Self Storage, Investment Real Estate, Moove In Self Storage, The LeClaire-Schlosser Group, Maxi Self Storage, LSC Development, Devon Self Storage, The Storage Acquisition Group, Vine View Storage | View Count: (2621) | Return

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