Compass Grows in Georgia

 

Compass Self Storage acquired a facility in Fairburn, Georgia. It’s Compass’ 19th in Georgia and 103rd nationally.

 

 

 

Murray Joins Store Space

 

Andrew Murray has joined Store Space Self Storage as vice president of finance and investments.

 

NYC Dominated 2023 Storage Sales

 

More than 73.4 million square feet of self storage space traded in 2022, according to Yardi Matrix data. New York City, which is the least supplied among urban hubs, dominated storage sales. The greatest sales volumes were in New York, California and Florida. The REITS led investor activity with Extra Space Storage out front with $1.2 billion in acquisitions.

 

True Storage Plans Massachusetts Deal

 

True Storage plans a new facility in Dracut, Massachusetts. True Storage purchased a 3.6-acre lot and received a special permit, according to The Sun.

 

Marcus & Millichap Sells Purely Portfolio

 

Marcus & Millichap brokered the sale of the Purely Storage portfolio, a seven-property portfolio in five cities in Southeast Texas. Dave Knobler and Charles “Chico” LeClaire listed the property on behalf of a California-based LLC, and secured the North Carolina-based buyer.

 

Pinnacle Brokers Colorado Transaction

 

Pinnacle Real Estate Advisors brokered a 1031 exchange acquisition of a self storage facility in Aurora, Colorado. The buyer sold multiple apartment buildings to exchange into the new venture.

 

KO Storage Buys Three Properties

 

KO Storage acquired three new facilities in Lebanon, Missouri, and two in Mineral Wells, Texas.

 

Franklin Street Handles Deals

 

Franklin Street brokered the following sales:

•    Watseka Self Storage in Watseka, Illinois. The seller was Pebble Ridge Capital and the buyer was Just Simple Storage. David Perlleshi and Frank DeSalvo managed the transaction.
•    Hattiesburg Climate Controlled Storage in Hattiesburg, Mississippi. DeSalvo and Perlleshi brokered the transaction on behalf of Anderson Construction of MS. The Seller was Highline Storage Partners.

 

WWG Names Shore to Post

 

The William Warren Group has named Norman Shore vice president of operations. Prior to joining WWG, Shore was with Alpha Storage Management.

 

Joint Venture Plans Florida Development

 

A joint venture between Hutson Real Estate Investments, The Silverfield Group and Skinner Bros. Realty is developing a storage property in SilverLeaf, a master-planned community in St. Augustine, Florida. CubeSmart will manage the property.

 

Arcland Opens Maryland Storage

 

Arcland Property Company and Chesapeake Real Estate Group opened a property in Lanham, Maryland. The property will be branded Self Storage Plus.

 

Storage Coming to Philadelphia

 

Developers plan two storage facilities in suburban Philadelphia. Bristol Pike Storage LLC plans a facility in Bristol Township, Pennsylvania. The project has received planning commission approval, according to LevittownNow.com. Nearby, developer Poverni Sheikh Group LLC plans a facility, which also received planning commission approval.

 

Gantry Provides Loan on Portfolio

 

Gantry secured a $40 million loan for a family to acquire four storage facilities as part of a 1031 exchange. The acquisitions include Storelocal Self Storage locations in Tennessee and a US Storage Center in Florida.

 

Merit Hill Buys in Albuquerque

 

Merit Hill Capital acquired Sandia Skies Self Storage in Albuquerque, New Mexico. An individual sold the asset, which is managed by Extra Space Storage.