Transactions and Deals: December 21, 2023
posted on 12/21/2023 9:51:00 AM
Partners Open in Massachusetts
Diamond Point Development, LLC in partnership with Castle Hill Investors, LLC, opened Extra Space Storage in Springfield, Massachusetts.
Texas StorageKing Sells
Marcus & Millichap brokered the sale of StorageKing USA in Sherman, Texas. Dave Knobler and Charles “Chico” LeClaire marketed the property on behalf of a Delaware LLC and secured the buyer, another Delaware LLC.
StorageMart Adds in Minnesota, Indiana
StorageMart acquired properties in Crystal and North Saint Paul, Minnesota, and also in Indianapolis, Indiana.
Argus Brokers Minnesota Sale
Argus Self Storage Advisors brokered the sale of Oronoco Self Storage in Oronoco, Minnesota. Tom Flannigan, Alex Ihrke, Nathan Gottlieb and Matt Haugen managed the transaction.
Starr Buys Two in Tennessee
Starr Equity acquired two storage properties in Knoxville and Nashville, Tennessee.
Go Store It Sells in South Carolina
Go Store It Self Storage sold a facility in Mount Pleasant, South Carolina. Madison Capital Group owns the Go Store It brand.
CushWake Brokers Georgia Asset
Cushman & Wakefield brokered the sale of a storage facility in Pooler, Georgia.
Yardi: Asking Rates Fall
The average annualized same-store asking rate per square foot for combined unit sizes averaged $16.57 nationally in November, a 4.2% drop on a year-over-year basis, according to Yardi Matrix. Street rates also remained negative on an annual basis in November in nearly all top metros.
Talonvest Secures New Jersey Loan
Talonvest Capital closed a $10.2 million bridge loan for Metro Self Storage for a facility in Monmouth Junction, New Jersey.