Transactions and Deals: October 26, 2023

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Transactions and Deals: October 26, 2023

Laura Williams-Tracy posted on 10/26/2023 1:30:00 PM

Marcus & Millichap Brokers Deals

Marcus & Millichap brokered the following sales:

• Lititz Springs Self-Storage in Lititz, Pennsylvania. Kevin Bledsoe and Matthew Junkin marketed the property on behalf of the seller and secured the buyer, Valley Storage.
• Extra Space Storage (managed) in St. Ann, Missouri. Jordan Farrer and Adam Schlosser represented the seller, a national storage company, and procured the buyer.

Atlas Buys in Texas

Atlas Self Storage acquired McArdle Storage in Lakeway, Texas. Atlas is based in Fort Worth.

Stuff Adds Second Location

Stuff Self Storage acquired a facility in Pontoon Beach, Illinois.

MakoRabco Promotes Lopez

Cody Lopez was named regional sales manager for the Southwest territory for MakoRabco, a designer, supplier and installer of self storage facilities. Lopez was previously a project manager.

Yardi: Rate Growth Negative

Annual street rate growth remained negative in September, according to Yardi Matrix. The average annualized same-store asking rent per square foot was $17.07 nationwide for a combined mix of unit sizes and types. This is a 4.2% decrease from September 2022.

SmartStop Buys in Florida

SmartStop Self Storage REIT bought a newly built facility in Tamarac, Florida, for $19.5 million. Blue Vista Capital Management and SouthWestern Property were the sellers.

U-Haul Invests in Phoenix

U-Haul plans to build a new facility in its hometown of Phoenix, Arizona.

SAFStor Feeds Demand in PA

SAFStor plans to build a new facility at the site of a long-time restaurant in Falls Township, Pennsylvania.

JV Gets New Jersey Loan

A joint venture between CrownPoint Group and Lamar Cos. has received a $19 million construction loan for a self storage facility in Newark, New Jersey. Extra Space Storage will manage the property.

Georgia Facilities Get Financing

Seven Hills Realty Trust provided $25.3 million to Castle Hill Investors and Olympus Ventures LLC to refinance two storage facilities in Atlanta and Fayetteville, Georgia.

Long Island Plans Taking Shape

Barone Management secured a $13.8 million construction loan to build a storage facility in Syosset, New York, on Long Island. Talonvest Capital Inc. arranged the financing.

| Categories: | Tags: Marcus & Millichap, Atlas Self Storage, Stuff Self Storage, MakoRabco, Yardi Matrix, SmartStop Self Storage, U-Haul, SAFStor, Barone Management, Talonvest Capital | View Count: (383) | Return

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About the Author

I am a regular contributor to The Charlotte Business Journal, covering a wide variety of industry news for the weekly publication. The Business Journal was my first client when I began freelancing 10 years ago, and I continue to write for the Journal’s weekly reports and special publications.

I contribute to SSA Magazine, a trade association magazine, and Profile magazine. Over my career I have written for Business North Carolina magazine; North Carolina magazine (a publication of the North Carolina Chamber); USAirways magazine and other publications produced by Pace Communications; Health Living magazine; and The Philanthropy Journal.

For corporate and nonprofit clients I provide copywriting services for marketing materials, video scripts and press releases and deliver media relations services. I also manage ongoing communications through organizational newsletters.

laura@lwtcommunications.bz

Transactions and Deals: October 26, 2023

Marcus & Millichap Brokers Deals

Marcus & Millichap brokered the following sales:

Atlas Buys in Texas

Atlas Self Storage acquired McArdle Storage in Lakeway, Texas. Atlas is based in Fort Worth.

Stuff Adds Second Location

Stuff Self Storage acquired a facility in Pontoon Beach, Illinois.

MakoRabco Promotes Lopez

Cody Lopez was named regional sales manager for the Southwest territory for MakoRabco, a designer, supplier and installer of self storage facilities. Lopez was previously a project manager.

Yardi: Rate Growth Negative

Annual street rate growth remained negative in September, according to Yardi Matrix. The average annualized same-store asking rent per square foot was $17.07 nationwide for a combined mix of unit sizes and types. This is a 4.2% decrease from September 2022.

SmartStop Buys in Florida

SmartStop Self Storage REIT bought a newly built facility in Tamarac, Florida, for $19.5 million. Blue Vista Capital Management and SouthWestern Property were the sellers.

U-Haul Invests in Phoenix

U-Haul plans to build a new facility in its hometown of Phoenix, Arizona.

SAFStor Feeds Demand in PA

SAFStor plans to build a new facility at the site of a long-time restaurant in Falls Township, Pennsylvania.

JV Gets New Jersey Loan

A joint venture between CrownPoint Group and Lamar Cos. has received a $19 million construction loan for a self storage facility in Newark, New Jersey. Extra Space Storage will manage the property.

Georgia Facilities Get Financing

Seven Hills Realty Trust provided $25.3 million to Castle Hill Investors and Olympus Ventures LLC to refinance two storage facilities in Atlanta and Fayetteville, Georgia.

Long Island Plans Taking Shape

Barone Management secured a $13.8 million construction loan to build a storage facility in Syosset, New York, on Long Island. Talonvest Capital Inc. arranged the financing.

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