Transactions and Deals: October 12, 2023
posted on 10/12/2023 10:22:00 AM
SecureSpace Opens LA Facility
SecureSpace Self Storage opened a newly built facility in downtown Los Angeles, California, just outside the Fashion District.
StorageMart Buys 3 in Wisconsin
StorageMart expanded in the Milwaukee, Wisconsin, market with the acquisition of three Store Space Self Storage properties in Menomonee Falls, Germantown and Milwaukee.
Reinhart Named MakoRabco CEO
MakoRabco has appointed Jim Reinhart to CEO. John Cross, who has served as CEO since 2021, is retiring. MakoRabco is a portfolio company of New State Capital Partners.
Marcus & Millichap Brokers Sales
Marcus & Millichap brokered the following sales:
• A storage facility in North Alabama. Jake Payne and Lee Thornton represented the seller and secured the buyer. Both are private LLCs.
• Life Storage in Merrimack, New Hampshire. Nathan Coe, Brett Hatcher and Gabriel Coe, marketed the property on behalf of an LLC.
Recreational Storage Plans Florida Project
Recreational Storage Group is developing a self storage facility in Ocala, Florida. Great American Self Storage will operate the facility when complete in 2024.
Avid Rolls Out SSM Cloud
Avid Storage has completed the roll out of Self Storage Manager Cloud across all 28 properties. SSM Cloud provides scalable and secure enterprise management software. Avid Storage operates as Avid Storage and Another Closet Self Storage.
Boardwalk Plans Georgia Conversion
Boardwalk Development Group will open a self storage facility in Warner Robins, Georgia. The project is a conversion of a former Piggly Wiggly supermarket.
CBRE Sells Oklahoma Assets
CBRE brokered the sale of two storage facilities to U-Haul Investors for $22.5 million. The properties are in Edmond and Ukon, Oklahoma. Nick Walker and Adam Alexander represented the seller, Rosewood Property Company, in the sale.
Go Store It Opens in Louisiana
Go Store It opened a facility in Baton Rouge, Louisiana, in a former Hobby Lobby space. Go Store It is an affiliate of Madison Capital Group.
Land America Plans Florida Asset
Land America LLC plans to build Safe & Secure Self Storage in Englewood, Florida. The project has received approval from Sarasota County planning board.
Nordhagen Honored by Alma Mater
Arlen Nordhagen, founder of National Storage Affiliates, was recognized by the University of North Dakota Alumni Association & Foundation and presented with the Sioux Award for Distinguished Achievement and Leadership. Nordhagen graduated in 1978 and graduated with high distinction from Harvard Business School.
Citadel Plans Kentucky Development
Citadel Self Storage plans to develop a facility in Middletown, Kentucky, if it secures city approval, according to the Louisville Courier Journal.
Seven Hills Closes Loan
Seven Hills Realty Trust closed a $25.3 million loan to refinance two Life Storage-branded properties in Atlanta and Fayetteville, Georgia. Castle Hill Investors and Olympus Ventures LLC sponsored the loan.
Missouri Project Approved
Adventure Boat and RV Storage received approval to build a storage facility in Wright City, Missouri.
Gorden Cos. Brokers Arizona Sale
The Gorden Cos. brokered the sale of GuardAll Self Storage in Kingman, Arizona. Jeff Gorden represented the seller.
, Marcus & Millichap
, Recreational Storage Group
, Self Storage Manager Cloud
, Boardwalk Development Group
, Go Store It
, Safe & Secure Self Storage
, Citadel Self Storage
, Adventure Boat and RV Storage
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