Meridian Brokers Virginia Sale

 

Meridian Storage Group closed the sale of SecureStore in Daleville, Virginia, near Roanoke. The facility constructed in 2021 was sold by the developer to a national operator. Patrick Kidder, president of Meridian Storage Group represented both.

 

Extra Space Buys from Space Shop

 

Extra Space Storage Inc. purchased nine facilities in Georgia and the Carolinas from Space Shop Self Storage for $137 million. The purchase was split into two sales with the first transaction comprised of five locations in Covington, Georgia, three facilities in Charleston, South Carolina, and a facility in Cary, North Carolina, which sold for $55 million. The second transaction comprised four facilities in Buckhead, Chamblee and Cumming, Georgia, which sold for $82 million.

 

Charity Storage Gave $111K

 

Charity Storage, the official charity partner of the SSA, raised $111,671 for nonprofit organizations across the nation in 2021. This was the 10^th year of giving through the program and the contribution was the result of nearly 500 charity auctions. Charity Storage reached its 10-year milestone by adding new leadership, relocating its headquarters to Phoenix, Arizona, and expanding its donor relationship with OpenTech Alliance.

 

Life Storage Reaps Recognition

 

Life Storage, Inc. was named one of America’s Best Midsize Employers by Forbes magazine. The company was also recognized as a Sustanalytics ESG Regional Top-Rated Company.

 

Storage King Expands in Texas

 

Andover Properties acquired a self storage facility in Garland, Texas, from Henry S. Miller Cos. The property will be rebranded as Storage King USA.

 

SAM Announces 2021 Results

 

Storage Asset Management announced its same store results for 2021. Among the highlights:

• Managed 442 self storage locations, including 105 unmanned locations.

• Increased Same-Store Revenue by 18.3% over 2020.

• Grew Net Operating Income by 26.6% over 2020.

 

Yardi: Fundamentals Remain Strong

 

Despite a slight seasonal dip in occupancy, the self storage sector began the year with a continuation of the strong fundamentals that fueled its success in 2021, according to the latest Yardi Matrix National Self Storage monthly report. Street rates changed little in January and remain well above trend on a year-over-year basis. Street rates for 10x10 non-climate-controlled units were unchanged at $128 in January. National street rates for 10x10 climate-controlled units decreased by $1 in January to $145. Year-over-year, street rates for 10x10 NON CC units grew 7.6% in January, while rates for 10x10 CC units grew 7.4%.

Personal Grows in Home State

 

Personal Mini Storage acquired its 47th location in Alachua, Florida. The facility was formerly known as Stor-All Self Storage.

 

CubeSmart Expanding in Connecticut

 

Developers have received approval from Wallingford, Connecticut, planning officials to expand a CubeSmart in the town. S. Colony 1074 LLC filed an application to build the addition.

 

Aries Arranges Loan

 

Aries Capital arranged a $19.8 million loan for Vineburg Wine & Self Storage, in Sonoma, California. Brandon Perdeck, director of capital markets, arranged the loan.

 

Woodruff Opens Store of Year

 

Woodruff Real Estate Services, LLC, has opened Woodruff Storage of Lakeside in Midland, Georgia. The project was recognized as the facility of the year in Georgia.

 

SkyView Brokers Pittsburgh Deal

 

SkyView Advisors brokered the sale of Harmar Storage Solutions near Pittsburgh, Pennsylvania. Zachary Urow managed the transaction. Public Storage was the buyer.

 

DXD Adds Senior Staff

 

DXD Capital has hired Kevin Bledsoe as vice president of acquisitions and James Hamilton as vice president of development.

Bledsoe will lead a team responsible for sourcing and selecting acquisitions. He formerly worked as first vice president for a national commercial real estate brokerage firm, specializing in self storage.

Hamilton will oversee the entitlement and pre-construction efforts for DXD’s self storage pipeline across the Southeast. Prior to joining the company, he worked for national developer Johnson Development Associates Inc.

The hires follow DXD Capital’s closing of its inaugural fund to invest in self storage.