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Transactions and Deals: March 16, 2023

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Transactions and Deals: March 16, 2023

US Storage Centers Adds in California


Westport Properties acquired a self storage facility in Chino, California. The facility will be rebranded under the US Storage Centers brand.





Rapid Building Names Leadership


Mark Masterson has been named president of Rapid Building Solutions. An attorney and engineer, Masterson was previously a member of a national law firm that represented Rapid from inception. Derek Marcoux has been named director of drafting. Rapid will open a new home office in Ocoee, Florida, later this year, as part of a new Your Storage Units facility. CEO and founder Richie Webster started Rapid Building Solutions in 2015 and has grown the company to over 300 employees.


Swivl Offers AI-enabled Features  


Swivl launched two new AI-enabled customer service features. Agent assist uses AI to generate and edit an automatic response to a customer question within seconds. Conversation summarization summarizes a conversation after it has ended. Swivl is an AI and automation platform for self storage.


Nuveen to Build Portfolio

Global investment firm Nuveen Real Estate plans to build a $1 billion self storage portfolio. Nuveen has entered a partnership with MyPlace, a recently launched operator.


Toy Storage Taking Nominations


Toy Storage Nation launched a new awards program to recognize excellence in design and management of RV and boat facilities. The program is now accepting nominations for facilities of all sizes to be evaluated by a Toy Storage Nation Selection Committee, which will name a Facility of the Month and Facility of the Year.


New Brand StoreGuard Launched


Birmingham-based Capital Growth Buchalter has formed Capital Growth StoreGuard, a new company focused on self storage. StoreGuard’s first acquisition was in Hinesville, Georgia.


Land America Plans Florida Asset


Land America LLC of Delaware plans to build Safe & Secure Self Storage in Englewood, Florida, according to YourSun.com.


Strada Set on Coconut Creek Plans


Strada CC Development LLC intends to build a self storage facility in Coconut Creek, Florida. The development would include a grocery store and coffee shop.


Sentry Announces Results


Sentry Self Storage Management announced operating results for the fourth quarter of 2022.

•    Same store revenue growth was 17%, and net operating income (NOI) increased 21% year-over-year.
•    Portfolio occupancy levels in the mid to high 80%s.


Peterson Bets on Virginia


Peterson Companies intends to build new self storage facilities in in Montgomery County and Fairfax, Virginia and has opened a second Gainesville, Virginia, location.


Midcoast Sells South Carolina Storage


Midcoast Properties, Inc. brokered the sale of Greenleaf Self Storage in Seneca, South Carolina.  Michael Morrison represented the seller.


Moove In Buys Iowa City Asset


Moove In Self Storage acquired Black & Gold Climate Controlled Storage in Iowa City, IA. The asset will be rebranded to Moove In – Waterfront.


CBRE Sells California Property


CBRE arranged the sale of a two-property portfolio in Roseville, California for $35.5 million to Wentworth Property Company. Seaview Financial was the seller.


CBRE Fund Adds 14 Assets


A fund sponsored by CBRE Investment Management acquired a portfolio of 14 storage assets in Southern California and Utah. The fund now owns 100 storage properties operating under the StorQuest brand across the U.S.


Skyview Brokers Sales


Skyview Advisors brokered the following sales:

•    A facility in Bowling Green, Kentucky, that is part of the Williams portfolio. Aaron Sanchez and Scott Schoettlin managed the sale.
•    U-Lock-It portfolio in the Clarksville, Tennessee-Kentucky MSA. Marie Lowery, Michael Brandon and Schoettlin managed the sale.
•    A facility in Indianapolis, Indiana, offering 100% indoor RV storage. Hunter Sells and Schoettlin managed the sale.


IRE Names Personnel


The Investment Real Estate Group of Companies, including Moove In Self Storage, announced the following promotions and hires:

•    Lisa Morgan was promoted to acquisition manager for IREGC.
•    Chris Riley Jr. was hired as asset project manager for IREGC.
•    Lisa Ritt was hired as the construction and facilities coordinator for IREGC.
•    Tina Damron was hired as district manager for Moove In. She will assume responsibility for Iowa, Pittsburgh and Harrisburg.


Versal Sells Corpus Christi Property


Versal brokered the sale of U-Store in Corpus Christi, Texas. Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented the seller, 624 U-Store, LLC, a Texas based company, and procured the Texas-based buyer, BHC Corpus Storage, LTD.





| Categories: | Tags: US Storage Centers, Rapid Building Solutions, Swivl, Artificial Intelligence, Nuveen, Capital Growth, Safe & Secure Self Storage, Strada, Sentry Self Storage, Midcoast Properties, Moove In Self Storage, CBRE, Versal | View Count: (391) | Return

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