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Transactions and Deals: August 19, 2022

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Transactions and Deals: August 19, 2022

Create Space Sells in Texas

 

Berkshire Hathaway brokered the sale of Create Space Storage in Amarillo, Texas, by a private owner to a REIT buyer. Cameron Vale, Parker Sweet and Josh Cato managed the transaction.

 

 

StorageMart Launches 3rd Party Management

 

StorageMart launched truSTORAGE, its third-party self storage management service. Adam Steckler is truSTORAGE president. StorageMart operates across the US, UK and Canada.

 

Yardi: Demand Steady

 

Demand for self storage units is steady, so street rates remained at record highs last month, according to the Yardi Matrix’s latest report. Average U.S. street rates for 10X10 non-climate-controlled units remained at $132 in June, matching the all-time high. Climate controlled 10x10 units were an average of $151, also an all-time high.

 

Morningstar Adds in Texas

 

Morningstar Storage opened its Lewisville, Texas, location. The storage space was previously occupied by McGee Lane Self Storage. 

 

IRE Brokers Northeast Sales

 

Investment Real Estate, LLC brokered the following sales:

State Line Mini Storage in Lindley, New York. Justin Quinto represented the seller, Robert Brown.

Delco Storage in Collingdale, Pennsylvania, the Philadelphia MSA.

 

PTI Integrates with DoorSwap

 

PTI Security Systems completed an integration with DoorSwap through their cloud-based access control software, StorLogix Cloud. DoorSwap provided billing, rental, and analytics software in the storage industry.

 

Moove In Expands in Pennsylvania

 

Moove In Self Storage has expanded into the Mechanicsburg, Pennsylvania market with the acquisition of iStore Self Storage, now called Moove In Trindle Road.

 

SkyView Manages Charlotte Sale

 

SkyView Advisors brokered the sale of CubeSmart Self Storage (managed) in Charlotte, North Carolina.

 

SROA Buys New York Asset

 

Storage Rentals of America purchased a Rochester, New York, facility for $4.39 million and an Austin, Texas, asset for $2.1 million from KO Self Storage, based in Minneapolis.

 

Store Space Names Personnel


Store Space Self Storage made the following personnel announcements:

J. Scott Masterson vice president of construction. Masterson has managed construction in the fast-casual and specialty dining sectors for the past 25 years.

Ely Mercado was promoted to director of human resources. Mercado joined in 2020.

 

Michigan Asset Sells

 

Safe Storage Investors sold Arnold Self Storage in Midland, Michigan. The sale was managed by Scott Rihm and Jesse Luke at EquiCap Commercial on behalf of the buyer and Frank DeSalvo and David Pelleshi of Sands Investment Group on behalf of the seller.

 

 

 

 

 

 

| Categories: | Tags: Berkshire Hathaway, StorageMart, Yardi Matrix, Morningstar Storage, Investment Real Estate, PTI Security Systems, Moove In Self Storage, SkyView Advisors, Storage Rentals of America, Store Space Self Storage, Arnold Self Storage | View Count: (530) | Return

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