Transactions and Deals: September 22, 2022
posted on 9/22/2022 7:53:00 AM
Marcus & Millichap Active in Idaho, Texas
Marcus & Millichap brokered the following sales:
Guardian Safe Storage in Nampa, Idaho. Jordan Farrer represented the seller, a local investment and development group. The buyer was an individual 1031 Exchange buyer.
Trojan Self Storage in Troy, Texas to a Texas-based private investor. Brandon Karr represented the seller and secured the buyer.
South Carolina Asset Sells
Berkshire Hathaway brokered the sale of Loris Self Storage in Loris, South Carolina, to a private regional buyer. Cameron Vale, Parker Sweet and Matt Brandal represented the seller and secured the buyer.
Chen Joins Lock America
Lock America of Corona, California has named Robert Chen the company’s national sales manager. Lock America develops, manufactures and markets a wide range of security locks and hardware for many markets, including self storage.
GiGi’s Opens Second Store
GiGi’s Self Storage has opened a second location in Greenfield, Massachusetts. The facility is located in the former duMONT Company building.
VanWest Launches 3rd Fund
Denver-based VanWest Partners launched a third fund, VanWest Storage Fund III, targeting the acquisition of self storage. The fund intends to raise $150 million.
Store Space Adds Jackson
Store Space has hired Bryan Jackson as senior vice president of human resources. Jackson comes from a national multi-family developer.
SmartStop Buys in Florida
SmartStop acquired a facility in Oxford, Florida, near The Villages.
CBRE Brokers North Carolina Assets
Lakeland Village acquired two Extra Space Storage facilities in Salisbury and Mooresville, North Carolina, from a private investor for $23.6 million. Morgan Windbiel with CBRE represented the seller.
SecureSpace Buys Florida Store
SecureSpace, a subsidiary of Torrance, California-based InSite Property Group, acquired a storage property in Coral Gables, Florida, from North Carolina-based Madison Capital Group.
SpareBox Refis Growing Portfolio
SpareBox Storage completed a $462.5 million refinancing with Bank of America. SpareBox was founded in 2020 and in just over two years has built a portfolio of 108 stores in nine states. The company is a joint venture between investment funds advised by Davidson Kempner Capital Management LP and Rizk Ventures and is led by industry veteran Steve Treadwell.