Transactions and Deals: June 23, 2023
posted on 6/23/2023 9:53:00 AM
Oregon Property Sells
Marcus & Millichap brokered the sale of Mountain View RV & Mini Storage in Madras, Oregon, for $6 million. Christopher Secreto and Samuel Olson marketed the property and represented the buyer.
Buchanan Street Enters Phoenix Market
Buchanan Street Partners acquired two storage facilities in Arizona for $41 million. The facilities are in Cave Creek and Mesa. The seller was Garrett Development Corporation.
Janus Names CCO
Janus International Group has named Pete Frayser to the newly created position of chief commercial officer. Frayser was previously vice president of sales and estimating.
StorageMart Grows in Kansas City
StorageMart has acquired two properties in the greater Kansas City, Missouri, market. One property is in Kansas City and the other is in Lee’s Summit.
Property Underway in Santa Barbara
Goleta Self Storage is under construction in Santa Barbara, California, according to NoozHawk. The property will open this fall.
SecureSpace Buys in Seattle
SecureSpace acquired Northlynn Mini-Storage in the Lynnwood area of Seattle, Washington. Renovation is planned and the property will be rebranded as SecureSpace Self Storage Lynnwood.
SmartStop Expands Toronto Reach
SmartStop Self Storage REIT affiliates have acquired an eight-facility portfolio in the Greater Toronto area. SmartStop now owns or manages 33 properties in Canada.
Value Store It Developing in Florida
Value Store It has begun work on a new facility in Boca Raton, Florida, according to the South Florida Business Journal.
Smartlock Converting in Missouri
Smartlock Self Storage will open a converted former Gordman’s store in Kirksville, Missouri.
Lindsey Brokers Arkansas Deal
Lindsey Self Storage Group brokered the sale of U Lock It Mini Storage in Malvern, Arkansas. John Lindsey, Kirk Martin and Jim Richie managed the transaction.
Cooper Building in Flagstaff
Cooper Companies will build a new storage facility in Flagstaff, Arizona. The project should be completed in the fall of 2024.
Silver Star Turning to Storage
Silver Star Properties is repositioning its portfolio of office, retail and industrial holdings into self storage, according to an SEC filing and The Real Deal. The Houston-based REIT acquired Southern Star Self-Storage Investment Company in May. The company is searching for a CEO with self storage experience to lead the company’s new direction. Silver Start holds 44 properties across Texas. The company saw a $24 million loss in the value of eight properties by the end of 2022.
Tags: Mountain View RV & Mini Storage
, Buchanan Street Partners
, Janus International Group
, Goleta Self Storage
, SecureSpace Self Storage
, SmartStop Self Storage
, Value Store It
, Smartlock Self Storage
, Lindsey Self Storage
, Cooper Companies
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