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17

Transactions and Deals: August 17, 2023

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Transactions and Deals: August 17, 2023

North Carolina Storage Sells

 

The Storage Acquisition Group brokered the sale of River Rock Storage in Gastonia, North Carolina. Jonathan Spencer and Scott Eckert managed the transaction.

 

Prime Buys New York Facility

 

Prime Storage Nanuet LLC, an affiliate of Prime Group, acquired a storage facility in Bardonia, New York, from an affiliate of the Renatus Group. The facility, which was previously a tennis center, sold for $35 million.

 

Spartan Launches Trust

 

Spartan Investment Group, which operates FreeUp Storage, launched a Delaware Statutory Trust that will allow 1031-exchange investors to pool assets for real estate investments.

 

Massachusetts Approves Plans

 

Westfield, Massachusetts, conservation commission approved a permit for a self storage facility, according to MassLive. Sovereign Builders will develop the site.

 

Report: Peak Leasing Season Fizzled

 

The highly anticipated peak leasing season failed to materialize with sluggish demand, according to MJ Partners second quarter self storage market overview. Public self storage companies reported slower growth in rental rates and move-ins, though the measurement is from lofty previous year comparisons.

 

CallPotential Adds 10 Federal

 

CallPotential has added 10 Federal Storage among the users of its contact center software. 10 Federal operates over 75 properties in 14 states.

 

SkyView Sells Arizona Asset

 

SkyView Advisors brokered the sale of Golden Gate Mini Storage in Golden Valley, Arizona. Brandon Lavern, Aaron Sanchez and Scott Schoettlin managed the sale.

 

Access Helping Displaced Residents

 

Access Self Storage provided help to tenants affected by the recent condemnation of apartments in Plainfield, New Jersey. Access provided a range of services to help affected tenants, including temporary storage and free boxes.

 

Talonvest Secures Loan for SmartStop

 

Talonvest Capital Inc. closed a $10 million loan for SmartStop Self Storage. The loan is for a facility in Eatontown, New Jersey.

 

Yardi: Street Rates Slip

 

Self storage street rates slipped in July as demand and supply trends soften, according to Yardi Matrix. Nationally, street rates dropped $1 to $141. Historically, rate growth is positive in July.

 

Companies Land on Inc. 5000

 

Four companies in the self storage sector have announced that they are ranked on the 2023 Inc. 5000 fastest-growing companies in America.
•    Boardwalk Development Group, LLC, ranks 1004 on the list. Boardwalk Development develops, acquires and operates self storage.
•    10 Federal ranks 1616 on the list. 10 Federal’s portfolio spans 12 states with over 75 properties.
•    Spartan Investment Group ranked 301. The Colorado-based company operates FreeUp Storage.
•    StoragePug placed 789. The company offers storage management software and website development services.

 

StoreEase Offers White Label SaaS

 

StoreEase launched its Virtual Technology Platform as a software-as-a-service (SaaS) to complement its existing third-party management service. The new offering provides a white label solution for operators to enhance their management platform.

     

Marcus & Millichap Sells Texas Property

 

Marcus & Millichap brokered the sale of Affordable Self Storage in Denton, Texas. Danny Cunningham and Brandon Karr represented the seller, a local investor. The buyer was a Chicago-based investment firm.

 

Runckel Joins SecureSpace

 

Chris Runckel joined SecureSpace Self Storage as president of operations. Runckel was previously COO at Andover Properties. InSite Property Group operates the SecureSpace brand.

 

 

 

 

 

| Categories: | Tags: The Storage Acquisition Group, Prime Storage Nanuet, Spartan Investment Group, Sovereign Builders, MJ Partners, CallPotential, SkyView Advisors, Access Self Storage, Talonvest Capital, Yardi Matrix, StoreEase, Affordable Self Storage | View Count: (709) | Return

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