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Transactions and Deals: May 15, 2023

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Transactions and Deals: May 15, 2023

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 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.







| Categories: | Tags: Compass Self Storage, New York City, True Storage, Purely Storage, Pinnacle Real Estate Advisors, KO Storage, Franklin Street, CubeSmart, Self Storage Plus, Philadelphia, Gantry, Merit Hill Capital | View Count: (615) | Return

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