Transactions and Deals: December 14, 2023
posted on 12/14/2023 3:30:00 PM
StorageMart Embarks on UK Conversion
StorageMart will convert a former hosiery factory in Brighton, United Kingdom, into a self storage facility. The project is set to open in spring 2024. StorageMart will take the historic building through a comprehensive transformation.
Highline Hires Industry Veterans
Highline Storage Partners hired Scott Sebring as chief operating officer and Scott Levy as chief investment officer. Both worked most recently at Simply Self Storage, Blackstone’s investment platform.
Go Store It Adds Two
Go Store It opened a location in Naples, Florida. The project was an adaptive reuse of a former marketplace. The firm also began construction on a facility in Nashville, Tennessee, the brand’s ninth property in the state. Go Store It is an affiliate of Madison Capital Group.
Noble Converts Florida Store
Noble Storage opened a facility in Tallahassee, Florida, in a former Kohl’s department store.
Versal Brokers Texas Deal
Versal brokered the sale of Highway 21 Storage in Kyle, Texas. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne represented the Texas-based private seller, and procured the buyer, Andover Properties and Storage King USA.
Montana Asset Changes Hands
Marcus & Millichap brokered the sale of StorageMax in Kalispell, Montana. Jordan Farrer and Adam Schlosser represented a local development company in the sale.
Team Starts Maine Development
Diamond Point Development LLC and The Ardent Companies began construction on storage facility in Auburn, Maine, with an expected March 2025 opening.
Canadian Storage Achieves Net Zero
Advanced Self Storage achieved a certification from the Canada Green Building Council for Net Zero Carbon at its Maple Meadows project in Maple Ridge, British Columbia. Nicola Wealth Real Estate owns the property.
Storage Market Set to Grow
According to DataHorizzon Research, the self storage market was valued at $61.2 billion in 2022 and is expected to reach $101.8 billion by 2032.
Developers Active in Queens
Blumenfeld Development and LSC Development purchased a facility in Flushing, Queens, New York, for $72 million. LSC also sold a facility in Woodside to Blumenfeld for $51 million.
Gantry Secures Loan
Gantry arranged an $18.3 million loan for StorEz Self Storage in Scottsdale, Arizona. Andy Bratt and Sean Kuang secured the loan.