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Transactions and Deals: October 26, 2023

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Transactions and Deals: October 26, 2023

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: (408) | Return

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