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21

Transactions and Deals: December 21, 2022

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Transactions and Deals: December 21, 2022

Versal Brokers Fort Worth Assets

Commercial real estate firm Versal brokered the sale of a two-property self storage portfolio in Fort Worth, Texas. Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented Plano Storage Station, LP, the Dallas, Texas-based seller. The team also procured the Austin, Texas based buyer, a family partnership.


 
Peterson Opens Maryland Site

 

The Peterson Companies opened its fourth self storage location in Frederick, Maryland. CubeSmart will manage the property.  R.W. Murray was the general contractor, and BWD Architects designed the project.

 

Insite Buys in Manhattan


 
InSite Property Group acquired a development site in the Midtown West area of Manhattan. The property will be branded SecureSpace Self Storage, InSite’s wholly owned operating subsidiary.

 

LaTerra Converting Texas Store

 

LaTerra Development won approval in Irving, Texas, to repurpose a long-shuttered Fry’s Electronics Store into self storage. LaTerra acquired the property in 2021.

 

Marcus & Millichap Busy in Texas

 

Marcus & Millichap brokered the following sales:


•    Midland Lock Storage in Midland, Texas. Dave Knobler and Jordan Farrer marketed the property on behalf of a Utah-based LLC, and secured the Minnesota-based buyer.
•    Presidential RV & Boat Storage in Leander, Texas. Knobler and Charles “Chico” LeClaire marketed the property on behalf of a Texas-based LLC and secured the Texas-based LLC buyer.

 

Talonvest Offers Market Insights

 

Talonvest Capital released the following insights in its capital markets newsletter:


Brisk lending could resume in the new year. Banks have completed stress testing and managed capital ratio requirements. Lenders also anticipate the Fed will moderate to a 25 bps rate increase in January. Private lenders and debt funds are raising funds and starting loan programs.

 

Lucky Opens in Memphis

 

Lucky Self Storage has opened in Memphis, Tennessee. The facility is an adaptive reuse of the Lucky Electric Supply and Clovernook buildings. Absolute Storage Management will serve the facility.

 

Montfort Capital Opens Texas Asset

 

Dallas-based Montfort Capital will open a self storage facility in Allen, Texas. The project will include offices for Montfort Capital and possibly business incubator offices.


 
SkyView Handles Massachusetts Sale

 

SkyView Advisors brokered the sale of Bernarndston Self Storage in Springfield, Massachusetts. Kyle Baptist, Richard Riddle and Scott Schoettlin managed the sale.

 

Developer Betting on Detroit Storage

 

Miami-based Basis Industrial, formerly known as MCSS Self-Storage, will demolish the old Continental Motors Co. plant in Detroit, Michigan, and build self storage. This is the firm’s first project in Michigan and it’s located within an Opportunity Zone. Public Storage will manage the building once complete.

 

 

 

 

 

 

| Categories: | Tags: Versal, Peterson Group, SecureSpace Self Storage, LaTerra Development, Marcus & Millichap, Talonvest Capital, Lucky Self Storage, Montfort Capital, SkyView Advisors, MCSS Self-Storage | View Count: (602) | Return

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