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Transactions and Deals: September 1, 2023

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Transactions and Deals: September 1, 2023

Storage King USA Adds in Colorado


Andover Properties acquired AAA Platte Self Storage in Colorado Springs, Colorado, from Crystal View Capital. The property will be rebranded Storage King USA.


Midgard Implements StoreEase SaaS


StoreEase announced a partnership with Reliant Real Estate Management, which operates as Midgard Self Storage, to implement its virtual technology platform as a SaaS white label solution. The initial rollout will be 11 properties in the Huntsville and northern Alabama MSAs.


Marcus & Millichap Sells Texas Facility


Marcus & Millichap brokered the sale of Affordable Mini Storage in Rockport, Texas. Jon Danklefs marketed the property on behalf of an LLC. The buyer, also an LLC, was secured by Sean Delaney.


Spartan Sells Investments


Spartan Investment Group sold two properties in its Front Range portfolio in Golden Colorado, which includes FreeUp Storage Devonshire Blvd. and FreeUp Storage Aspen Park.


New York Town Halts Storage


The town of Fishkill, New York, has imposed a one-year moratorium on self storage developments. The town will examine its town code and consider amending town zoning regarding self storage development.


StorSafe Buys in Florida


StorSafe acquired The Extra Closet in Venice, Florida, bringing its total to 25 locations.


Street Rates Slip in July


Self storage street rates slipped month-over-month in July and year-over-year growth remains negative, according to Yardi Matrix. Demand and supply trends are both softening, impacted by weak home sales and slowing domestic migration.


CallPotential Enables Video


CallPotential launched a two-way video feature enabling agents to conduct face-to-face customer engagements and complete rentals.


SkyView Brokers Houston Asset


SkyView Advisors brokered the sale of 3 Men Movers Self Storage in Houston, Texas. Brandon Lavern, Aaron Sanchez and Scott Schoettlin managed the transaction.


InSite Sues Over Moratorium


InSite Property Group sued the city of Elmsford, New York, in Westchester County Supreme Court for allegedly violating a local moratorium on self storage development when village trustees approved a competitor’s site plan in July. The town enacted a temporary ban on storage projects in June. InSite operates SecureSpace Self Storage.


Davis Finishes NYC Asset


The Davis Companies completed a storage facility in Manhattan, New York’s Chelsea neighborhood. It will be operated by Public Storage.


Toy Storage Names Board Chair


Toy Storage Nation named Chris Koenig as advisory board chairman. Koenig is president of Pacific Property Advisors. He has developed, owns or is developing $200 million in storage projects in California.


CushWake: Volume Slows


Self storage transaction volume subsided in the first half of 2023, with the trailing 12-month volume down 57% year over year. The sector remains a top performer with volume remaining above the 12-month levels leading up to the pandemic, according to Cushman & Wakefield.






| Categories: | Tags: Storage King USA, StoreEase, Affordable Mini Storage, Spartan Investment Group, moratorium, StorSafe, Demand, 3 Men Movers Self Storage, SecureSpace Self Storage, Davis Companies, Cushman & Wakefield | View Count: (81) | Return

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