StoreEase Sells Portfolio, Gains Investment

 

StoreEase, Inc. sold a 9-property, multi-state portfolio to a controlled fund of Liberty Investment Properties, based in Orlando, Florida. The portfolio is made up of newly constructed assets managed by StoreEase.

Recently, StoreEase has received a Series Seed investment led by New York-based Bienville Capital. StoreEase will leverage this investment to further advance the adoption of virtual management across the self storage industry.

 

Storage King Adds Miami Store

 

Andover Properties acquired a self storage facility in the Little Havana area of Miami, Florida. The property will be rebranded as Storage King USA, which now has 127 facilities in 16 states.

 

Developer Readies Arizona Storage

 

Developer Rancho Sahuarita has broken ground on Rancho Sahaurita Self Storage and RV in Sahuarita, Arizona. Construction management and operations will be provided by 180 Self-Storage, LLC. The project should open in late 2022.

 

Talonvest Aids SpareSpace on Loan

 

Talonvest Capital, Inc. and its client SpareSpace Storage closed a $21.4 million bridge loan for the financing of a facility in Miami, Florida. The loan facilitated a construction loan refinance while providing capital for SpareSpace to complete the phased build out of a seven-story facility.

 

Marcus & Millichap Brokers Florida Sale

 

Marcus & Millichap brokered the sale of Stor-Ette Storage in Dade City, Florida. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher, and Gabriel Coe had the exclusive listing to market the property on behalf of the seller and secured the buyer.

 

Clutter Combines with MakeSpace

 

Tech-enabled Clutter has combined with on-demand storage company MakeSpace. Clutter was founded in 2015 as an on-demand storage company that offers pickup, storage and redelivery of customer belongings. MakeSpace was founded in 2013 and partners with Iron Mountain to use that company’s vast storage and logistics network.

 

SmartStop and SSGTII Merge

 

SmartStop Self Storage REIT, Inc. and Strategic Storage Growth Trust II, Inc. have entered into an agreement to merge in an all-stock transaction. SSGTII will merge into a newly formed subsidiary of SmartStop. The combined company will have 150 wholly owned properties.

 

MakoRabco Launches New Brand

 

MakoRabco has launched its new brand, including the tagline, The Edge You Need. The new brand includes a new logo of a streamlined shark fin with modern design.

 

Storage Post Adds in NYC

 

Storage Post Self Storage purchased a new facility in the Morrisania neighborhood of New York City's Bronx borough. The facility is near Yankee Stadium.

 

Invesco, Baranof Buy in New Jersey

 

Cushman & Wakefield brokered the sale of a self storage facility in Monmouth County, New Jersey to Invesco Real Estate in partnership with Baranof Holdings.

Noah Obuchowski, Robert Bloch and Mike Mele represented the seller, Tresnan Property Group. 

 

MJ Partners Releases Sector Report  

 

The full year 2021 proved to be the most spectacular year in the self storage sector’s history, according to MJ Partners Self Storage overview. Transaction volume among self storage REITs was approximately $12.7 billion, and overall total transaction volume was estimated over $20 billion. Year-end occupancy for same store portfolios ranged from 93.3% to 95.3%. Same-store revenue growth in the fourth quarter ranged from 13.7% to 18.3%, year-over-year.