CBRE Brokers Two in Florida

 

CBRE’s Self Storage Advisory Group represented a private seller in the sale of two self storage facilities in Central Florida for $58.25 million. The buyer was a joint venture between Invesco and Westport Properties. The My Neighborhood Storage Center facilities are located in Orlando and in Windermere.

 

NYSSA Forum Moved to May

 

The New York Self Storage Association Investment Forum has been rescheduled for May 5, 2022, at the 583 Park Avenue event venue in New York City. Pursuant to NYC COVID regulations, all guests must provide proof of COVID vaccination.

 

NSA Promotes Kenyon, Cameron

 

National Storage Affiliates Trust has promoted Tiffany S. Kenyon and Melissa M. Cameron to the senior leadership team. Kenyon has been promoted to executive vice president and general counsel. Cameron has been promoted to senior vice president of customer acquisitions.

 

Hines Sets Fund for Storage

 

International real estate development, investment and management firm Hines has launched the Hines U.S. Property Recovery Fund, which is intended to raise $1 billion in equity investments toward the acquisition and renovation of undervalued U.S. properties. If it reaches its goal, the fund would have $2.5 billion to purchase self storage facilities in addition to residential, office and student-housing real estate across 30 markets.

 

TPG Targets Storage Investments

 

TPG Real Estate Partners is trying to raise $5.5 billion for its TPG Real Estate Partners IV fund, which is expected to target self storage investments and other real estate assets including industrial, hospitality, life science, office, residential, retail, senior-housing and student-housing opportunities in Europe and North America. In 2014, the company invested $120 million in Life Storage LP, which sold to Sovran Self Storage Inc. Sovran subsequently rebranded its name to Life Storage Inc.

 

Connecticut Town Weighs Moratorium

 

The economic development commission of Stratford, Connecticut, has approved a proposal that would put a stop to additional self storage building developments in town. Now the plan moves to the Zoning Commission for review and possible approval. If approved, the moratorium could go into effect in March, according to the CTPost.

 

Andover Buys in Panama City

 

Andover Properties acquired Copper Safe Storage in Panama City, Florida, which was built in 2021. The Storage King USA portfolio totals 122 facilities in 16 states.

 

Louisiana Storage Sold to Private Buyer

 

Lindsay Self Storage Group brokered the sale of Cheniere Storage in West Monroe, Louisiana, to a private buyer. Jim Ritchie had the listing.

 

Safeguard Opens in Clearwater

 

Safeguard Self Storage opened a new facility in Clearwater, Florida, its 17^th in the state.

 

Marcus & Millichap Brokers in Pennsylvania

 

Marcus & Millichap brokered the sale of Hanover Mini Storage in Hanover, Pennsylvania. Luke Dawley, Nathan Coe, Brett R. Hatcher, and Gabriel Coe had the exclusive listing to market the property on behalf of the seller, and they secured the buyer.

 

Miller Valentine Developing in North Carolina

 

Miller Valentine Construction, in partnership with MV Investment, will develop a new self storage facility in Calabash, North Carolina. Completion is expected in mid-2023. CubeSmart will manage the property.

 

Devon Promotes Gamm

 

Devon Self Storage has promoted Chuck Gamm to senior vice president – operations. Gamm will oversee Devon’s 87 self storage facilities nationally and be responsible for internet-related marketing activities, leasing, occupancy, budgets, tenant insurance sales, and personnel in the operations division. Gamm has been with Devon for three years.

 

US Storage Completes Los Angeles Location

 

Westport Properties completed construction of a self storage property in Los Angeles, California. The property will be managed under the US Storage Centers brand.

 

Boardwalk Buys Five Southern Properties

 

Boardwalk Development Group closed five acquisitions in Tennessee and Georgia. The properties are located in Ooltewah and Soddy Daisy, Tennessee, and Clermont and Perry, Georgia. The properties will be rebranded as Boardwalk Storage.