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02

Transactions and Deals: June 3, 2022

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 Transactions and Deals: June 3, 2022

IRE Sells Connecticut Asset

 

Investment Real Estate, LLC brokered the sale of Woodbury Storage in Woodbury, Connecticut, to a private buyer. Justin Quinto managed the off-market transaction.

 

CushWake Sells Virginia Property

 

Frederick Pike Holdings LLC purchased a retail building and storage facility in Frederick County, Virginia, from Winchester Capital Group Inc. for $3.9 million. Jamie Scully of Cushman & Wakefield | Thalhimer handled negotiations on behalf of the seller.

 

Devon Implements Self Storage Manager

    

Emeryville, California-headquartered Devon Self Storage has converted to Self Storage Manager across its 90 facilities in 24 states. Self Storage Manager, Inc. is the developer of Self Storage Manager, a management platform.

 

SmartStop Completes Merger

 

SmartStop Self Storage REIT, Inc. and Strategic Storage Growth Trust II, Inc. have closed their previously announced merger, in which SSGT II will merge into a newly-formed subsidiary of SmartStop in a stock-for-stock transaction that values SSGT II’s real estate portfolio at approximately $280 million. The combined companies will have a portfolio of 152 wholly-owned operating properties.

 

Forge Opens Headquarters

 

Forge Building Company opened a new headquarters in Boise, Idaho, where it was founded in 2007. Forge focuses on self storage and innovative building solutions.

 

StorageBlue Buys Portfolio

 

StorageBlue acquired $69 million of first-mortgage financing for the purchase of a three-asset portfolio from American Self Storage in the New York City region, according to Commercial Observer. Union Labor Life Insurance Company supplied the loan. The properties are on Staten Island, and in Long Branch and Cliffwood, New Jersey.

 

Storage Authority Awards Franchises

 

Storage Authority awarded seven new franchises in the first five months of 2022. The franchisees are from Michigan, Colorado, South Carolina, Arizona and Georgia. Storage Authority has grown to over 30 franchisees.

 

Nunez Brokers Vault Storage

 

The Nunez Self-Storage Group represented the seller in the $25.5 million sale of Vault Storage and RV in Chandler, Arizona. Denise Nunez and Victoria Filice represented the seller, Vault at Riggs Road LLC. The buyer was a national owner/operator.

 

Developer Plans North Carolina Storage

 

Johnson Development and Associates Inc., received approval for a new facility in Gastonia, North Carolina, according to the Gaston Gazette. Johnson is based in Spartanburg, South Carolina.

 

Michigan Conversion Gets Go-Ahead

 

Look Self Storage intends to convert an indoor amusement center to storage in the Delta Township of Michigan, according to the Lansing State Journal. This will be Look Self Storage’s third location.

 

 

 

 

 

 

| Categories: | Tags: Investment Real Estate, Frederick Pike Holdings, Self Storage Manager, SmartStop Self Storage REIT, Forge Building Company, StorageBlue, Storage Authority, Franchise, Nunez Self-Storage Group, Johnson Development, Look Self Storage | View Count: (883) | Return

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