US Storage Opens in Los Angeles

 

Westport Properties completed the construction of a new storage facility in Los Angeles, California. This US Storage Centers is minutes from California State University.

 

 

 

 

Marcus & Millichap Brokers in Florida, Michigan

 

Marcus & Millichap brokered the following sales:

• CubeSmart Self Storage in Jacksonville, Florida. Meir Perlmuter, Nathan and Gabriel Coe and Brett Hatcher represented the seller and secured the buyer.

• A 21-property portfolio in Alabama, Florida, Georgia, Mississippi and Tennessee. Eddie Greenhalgh, Jake Payne and Lee Thornton represented the seller, Copper Safe Storage, and secured the buyer, Cohen Investment Group.

• Northside Self Storage in Jackson, Michigan. Tom Berlin marketed the property on behalf of the seller, a limited liability company. 

 

Meridian Brokers Sales

 

Meridian Storage Group brokered the following recent sales:

• Aaron and Montana Self Storage. Patrick Kidder represented the seller, a private owner and secured the national buyer. 

• A Main Street Storage in Statesboro, Georgia, a three-property portfolio. Kenneth DeVaul represented the private seller and secured the purchaser. 

• Midtown Storage in Kansas City, Missouri. DeVaul represented the seller, a family office. The buyer was a large private operator.

• Tangi Stor All, located in Hammond, Louisiana. Taylor Dooley represented the seller, a local owner/operator and secured the private buyer. 

 

Andover Grows in Florida

 

Andover Properties acquired a facility in Pace, Florida. The property will be expanded and rebranded as Storage King USA.

 

Self Storage Manager Names New President

 

Self Storage Manager Inc. has promoted Rohan Shenoy to president. Former president, Kat Shenoy, will continue as CEO and chairman of the board. Rohan joined the company in 2017 as vice president of operations. He will seek ways to integrate third-party software and services.

 

Talonvest Shares Market Trends

 

Talonvest Capital shared the following recent trends in lending:

For the permanent lending market, life companies, credit unions, and banks are offering early rate locks as a risk reduction strategy for borrowers in this rising rate environment. For bridge lending, debt funds are awash in capital and remain active in quoting bridge loans.

 

Lindsey Brokers Dutch Sale

 

Lindsey Self Storage Group closed the sale of Mini-Opslag Helmond, located in Helmond, Netherlands. The transaction was facilitated by John Lindsey and Pieter Ligtvoet.

 

Union Realtime Launches ManageSpace

 

Union Realtime has released ManageSpace, an end-to-end platform that allows clients to manage leads, inventory, payment and reporting in the same tool. ManageSpace is cloud-based and accessible on all devices, eliminating the need for in-store kiosks. Union Realtime already offers a suite of location intelligence tools for the real estate industry.

 

Developer Sells Washington SecureSpace

 

SecureSpace Self-Storage  in Everett, Washington, has sold for $11.8 million. The seller was Stadium Storage Holdings LLC.

 

Massachusetts Storage Sells

 

The Storage Acquisition Group brokered the sale of a CubeSmart-managed facility in Swansea, Massachusetts. The transaction was negotiated by Bill Sitar, Jr, Thomas Palumbo and Monty Spencer.

 

Yardi: Sector in Strong Position

 

The self storage sector stands in a strong position heading into prime leasing season in spring and summer, according to the latest Yardi Matrix National Self Storage report. The overall national street rate for self storage remains unchanged from July 2021 at $145.