Transactions and Deals: November 20, 2023
posted on 11/20/2023 10:08:00 AM
KO Opens Minnesota Conversion
KO Storage has opened in Red Wing, Minnesota. KO Storage acquired a vacant building formerly occupied by Econo Foods in 2022 and completed renovations.
Marcus & Millichap Manages Sales
Marcus & Millichap brokered the following sales:
KCI RV Storage & Development in Smithville, Missouri. Robert Cook and Sean Delaney marketed the property on behalf of an LLC and secured the buyer, also an LLC.
StorQuest (managed) in Aurora, Colorado. Adam Schlosser and Charles “Chico” LeClaire marketed the property on behalf of a local private equity group. The buyer was new to the storage market.
Larkspur Sells Two Assets
Larkspur Storage sold two development projects in Belleville, Illinois, and Opelika, Alabama. Miami-based Larkspur is a portfolio company of Staple Street Capital.
Safeguard Expands Parking
Safeguard Self Storage completed the parking expansion of a location in Seffner, Florida. The project added 53 new parking spaces.
SurePoint Planning Texas Development
SurePoint Development is under contract to purchase a storage development in Fulshear, Texas. The facility should be complete by April 2024.
Compass Opens 26th Florida Site
Compass Self Storage opened a new facility in Wildwood, Florida. It’s Compass’s 26th location in Florida.
InSite Adds in Seattle
InSite Property Group paid $30 million to acquire a storage facility in Seattle, Washington. The property has been rebranded to SecureSpace.
Basis Lands Construction Loan
Basis Industrial closed an $11 million construction loan for a storage facility in Melbourne, Florida. Construction will be complete in fall 2024. Extra Space Storage will manage the property.
Anderson Joins Lindsey Group
Nick Anderson has joined Lindsey Self Storage Group as a broker.