Transactions and Deals: October 7, 2022
posted on 10/7/2022 11:31:00 AM
Public Storage Celebrates 50th Anniversary
Public Storage celebrated the company’s 50th anniversary by ringing the New York Stock Exchange Opening Bell on Friday, Sept. 30. CEO Joe Russell, together with leaders from across the company, gathered for the celebration. Public Storage began in 1972, founded by Wayne Hughes and Ken Volk. Five decades later, Public Storage owns or manages more than 2,900 properties with more than 5,000 employees and 1.7 million customers.
“We are honored to celebrate our 50th Anniversary by ringing the NYSE Opening Bell,” said Joe Russell. “On behalf of the current and prior management, I want to thank the Public Storage team for their invaluable contributions and our expanding customer base for their continued confidence in us. As we reflect on the successes of our past and present, I am very optimistic and excited about our future.”
Teakwood Buys in Arizona
Teakwood Real Estate Partners has acquired a storage facility in Mesa, Arizona. Westport Properties will oversee management and operation of the property under the US Storage Centers brand.
IRE Brokers Pennsylvania Sale
Investment Real Estate, LLC brokered the sale of a fully approved self storage site in Slippery Rock, Pennsylvania, to a private buyer. Brian Davison brokered the transaction.
Marcus & Millichap Closes Midwest Deals
Marcus & Millichap brokered the following deals:
Climate Storage in Lawrence, Kansas. Robert Cook and Sean M. Delaney marketed the property on behalf of a limited liability company.
Montague Self Storage in Montague, Michigan. Brian Kelly, Brett R. Hatcher and Gabriel Coe marketed the property on behalf of a limited liability company.
Berkshire Hathaway Sells Kentucky Asset
Berkshire Hathaway brokered the sale of Horizon Storage Solutions in Shelbyville and Simpsonville, Kentucky. Cameron Vale, Parker Sweet and Andrew Plunkett represented the seller and secured the buyer, a national private equity firm.
Janus Promotes Castillo, Kahler
Janus International Group has named Rebecca Castillo as vice president of human resources and Elliot Kahler as general counsel. Castillo joined Janus in 2016 as director of HR. Kahler joined Janus as corporate counsel in 2018 and was also a key member of the team that helped the company go public in 2021.
Investor Gets Approval for New Mexico Project
Columbus Capital has received approval from the Los Alamos, New Mexico, planning and zoning commission for a special use permit to operate a storage facility in the former Smith’s supermarket in the Mari-Mac Center.
Washington Storage Underway
Doug and Karina Nelson are building The Coppertop Storage Poulsbo in Poulsbo, Washington.
The project has a target completion date of late June 2023,
SkyView Sells Sarasota Storage
SkyView Partners brokered the sale of Extra Garage storage in Sarasota, Florida. Kyle Baptist, Richard Riddle and Scott Schoettlin managed the transaction.
Colliers Sells Iowa Asset
Colliers International brokered the sale of Ankeny Mini Storage in Ankeny Iowa. Dan Lynch represented the seller, a private individual, and secured the buyer, an Illinois-based private investor.
Naples Storage Secures Financing
Fuse Group Investment Companies, a Florida based direct bridge and construction lender, provided $11.5 million in financing for Carl’s White Glove Personal Storage in Naples, Florida. The loan was facilitated by Howard Taft of Aztec Group and Eyal Peretz of Fuse Group.
Sterling Promotes Vinstra
Sterling Group has appointed Andrea Vinstra to president of management, overseeing the multifamily and self storage divisions of the company. Sterling Group is an Indiana real estate company.
IPA Capital Arranges Loan for Anytime Storage
IPA Capital Markets, a division of Marcus & Millichap, arranged a $34.2 million loan for a 10-property Arizona storage portfolio for Anytime Storage. Sunny Sajnani, and Duke Dennis worked on the assignment.