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Transactions and Deals: February 11, 2022

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Transactions and Deals: February 11, 2022

Marcus & Millichap Broker Texas Deals

 

Marcus & Millichap brokered the following sales:

Karam Self Storage in Galveston, Texas. Dave Knobler and Charles “Chico” LeClair marketed the property on behalf of a Texas-based LLC. The property was a former brewery built in the early 1900s and is a nationally recognized historic building converted to storage in 2019.

Drake Storage in Giddings, Texas. Arol Horkavy and Jon Danklefs marketed the property on behalf of a limited liability company and secured the buyer, a limited liability company.

 

Self Storage Plus Enters Florida Market

 

Self Storage Plus has begun its first management assignment at a property in Hallandale, Florida. Self Storage Plus will manage the facility for the Boundary Companies. Self Storage Plus has 51 locations throughout the Washington-Baltimore region.

 

StorQuest Opens in Phoenix

 

The William Warren Group completed a new facility in Phoenix, Arizona, in January. The facility is marketed under the StorQuest brand.

 

CubeSmart Developing in Newark

 

CubeSmart intends to demolish a vacant warehouse in Newark, New Jersey, and build a new self storage facility, according to the Newark Post. The warehouse was last used by MCubed Technologies.

 

U-Haul Planning St. Cloud Facility

 

U-Haul plans to convert a former warehouse in St. Cloud, Minnesota, into self storage. U-Haul acquired land in December for U-Haul Moving & Storage of West Side St. Cloud.

 

Andover Buys in Texas

 

Andover Properties acquired Crossroads Self Storage in College Station, Texas. The property will be rebranded as Storage King USA.

 

SmartStop Grows Near Chicago

 

SmartStop Self Storage REIT, Inc. acquired a facility in Algonquin, Illinois, the company’s sixth owned or managed location in the Chicago market.

 

InSite Plans New Jersey Storage

 

InSite Development Partners intends to build a SecureSpace self storage facility in North Plainfield, New Jersey, according to MyCentralJersey.com. InSite has applied to the zoning Board of Adjustment for a permit to demolish a former pet hotel at the location. The proposal requires a use variance.

 

CIP Real Estate Invests in Georgia

 

Talonvest Capital managed a $24.48 million acquisition loan for CIP Real Estate to purchase a self storage facility in Alpharetta, Georgia.  

 

Absolute Releases Earnings

 

Absolute Storage Management released quarter and year-end results of 2021. Among the year’s highlights for the Memphis-based third-party management company are:

  • Increased same store revenue by 14.9% compared to 2020.

  • Acquired 19 management contracts.

  • Achieved 18.1% same-store NOI.

 

Sauls Brokers Georgia Sale

 

Sauls Storage Group managed the sale of Jackson Lake Storage in Monticello, Georgia. Jane Sauls brokered the transaction to an out-of-state buyer.

 

 

 

 

 

| Categories: | Tags: Marcus & Millichap, Self Storage Plus, StorQuest, CubeSmart, U-Haul, Storage King USA, SmartStop, InSite Development Partners, Talonvest Capital, Absolute Storage Management, Sauls Storage Group | View Count: (2608) | Return

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