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Transactions and Deals: July 31, 2023

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Transactions and Deals: July 31, 2023

Arcland Expands to Pennsylvania

 

Arcland Property Company opened its first storage facility in Pennsylvania. Self Storage Plus opened in the Penn Shopping Plaza in Penn Township, near Hanover. The property is a conversion of a former Weis grocery store.

 

VanWest Adds Wyoming Assets

 

VanWest Partners acquired two new properties for VanWest Storage Fund III. The properties are in Cheyenne, Wyoming. The properties will be branded to ClearHome Self Storage - Cheyenne. The fund now represents over $80 million in total capitalization.

 

Public Storage COO Resigns

 

David Lee, the chief operating officer of Public Storage, resigned for personal reasons effective August 1.

 

Turbull Buys California Portfolio

 

Turnbull Equity acquired a portfolio of four facilities in Crescent City, California for $15 million. The seller was Oak Creek Enterprises. The portfolio consists of D&B Storage, Elk Creek Storage, A&B Storage and Northcrest Storage.

 

Colliers Handles Washington Sales

 

Colliers brokered the following sales:


•    Northlynn Mini-Storage in Lynwood, Washington. Jacob Becher, Nate Flifet, Dana Chobor and Tom de Jong represented the seller, Lanswell Development Corp. The buyer was GCP SecureSpace Properties, LLC. The property will be rebranded SecureSpace Self Storage Lynnwood.
•    10121 9th Ave. W. self storage property in Everett, Washington, for $3.4 million. The buyer was In Self Storage and the seller was Blackdog Properties. Becher, Flifet, Chobor and de Jong managed the transaction.

 

Developer Plans School Conversion

 

Quartz Creek Holdings has plans to develop a former elementary school in Lebanon, Pennsylvania, to self storage. The use fits within existing zoning.

 

Absolute Adds Two Properties

 

Absolute Storage Management added the following facilities under management:


•    Albany Storage Annex in Albany, Louisiana, self storage facility.
•    SecureLoc Self Storage in Hagerstown, Maryland.

 

Louisiana Storage On Tap

 

ClimaStor plans to build a storage facility in Baton Rouge, Louisiana. The development is near Louisiana State University.

 

Providence Bans More Storage

 

The Providence, Rhode Island, city council passed a zoning ordinance amendment banning new self storage facilities from being developed. City council members said the ban was a way to address the city’s lack of housing.

 

Illinois Property Set for Storage

 

Berman-Lapetina purchased a 3.4-acre tract of land in Bartlett, Illinois, and plans a self storage facility. Lee & Associates represented the seller, Abbott Land.

 

 

 

 

 

| Categories: | Tags: Self Storage Plus, ClearHome Self Storage, Turnbull Equity, Colliers, Quartz Creek Holdings, Absolute Storage Management, ClimaStor, Rhode Island, Berman-Lapetina | View Count: (347) | Return

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