MV Sells New Florida Facility

 

MV Investment sold its most recently developed self storage facility in Ft. Myers, Florida, to HPI Real Estate Services & Investments in Austin, Texas. MV Investment is currently developing six additional facilities in North Carolina and Florida.

 

 

Global to Open Memphis Storage

 

Global Building LLC will open a Public Storage-branded facility at Southland Mall in Memphis, Tennessee. The facility is set to open in July in a space formerly occupied by Sears.

 

Argus Sells Mississippi Portfolio

 

Argus Self Storage Advisors Stuart LaGroue and Bill Barnhill represented the seller of Southern Storage, a 4-property portfolio with locations in Lucedale and Moss Point, Mississippi. The buyer was a Delaware LLP.

 

Yardi: Rents Continue Up

 

Despite growing economic turmoil, self storage rents continue to tick up month after month, according to the National Self Storage Report from Yardi Matrix. Overall street rates rose $1 last month to $147, with 10X10 climate controlled units averaging $149 and 10X10 non-climate controlled units at $131. Year-over-year growth is moderating as anticipated.

 

Go Store It Funds Florida Project
 

Charlotte, North Carolina-based Madison Capital Group has obtained a $12 million construction loan to build a storage facility in Opa-Locka, Florida. Madison Capital operates under the Go Store It brand.

 

Northpointe Buys in Michigan

 

Northpointe Storage acquired Lock N Leave Self-Storage in New Haven, Michigan, its second location in southeast Michigan.

 

SecureSpace Opens California Storage

 

SecureSpace Self Storage opened a new facility in Rancho Penasquitos, California, in the San Diego market.

 

Nunez Brokers Arizona Asset

 

Nunez Self Storage Group brokered the sale of Vault at Riggs Road in Chandler, Arizona. Denise Nunez and Victoria Filice represented the seller.

 

U-Haul Developing Three Projects

 

U-Haul is developing the following projects:

Acquired 20 acres in Bozeman, Montana, to develop a facility.

Operating in a former Kmart in Lawton, Oklahoma, with plans to develop storage.

Plans to construct U-Haul Moving & Storage of River Watch in Augusta, Georgia by 2024.

 

Marcus & Millichap Sells iStor

 

Marcus & Millichap brokered the sale of iStor Self Storage in Waxahachie, Texas. Brandon Karr marketed the property on behalf of the seller, a limited liability company and secured the California-based buyer.

 

Moove In Acquires Two Stores

 

Moove In Self Storage made the following acquisitions:

• Midway Self Storage in Carlisle, Pennsylvania, which has been renamed Moove In Holly Pike. This is Moove In’s first property in the Harrisburg-Carlisle MSA.

• Southside Mini Storage in Iowa City, Iowa. It will be managed by Investment Real Estate Management under the Moove In Self Storage brand.

 

CBRE Brokers Florida Sale

 

CBRE’s Self Storage Advisory Group represented the seller Palm Bay SS, LLC, in the sale of Out O’Space Storage in Brevard County, Florida. The buyer was OB Companies.