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Transactions and Deals: March 18, 2024

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Transactions and Deals: March 18, 2024

Newmark Brokers Ohio Transfer

 

Newmark brokered the sale of Wall Street Storage Unit Rentals in Shelby, Ohio. Local builder Soggy Dollar Properties is the buyer.

 

 

 

 

 

Meridian Sells in Mississippi

 

Meridian Storage Group brokered the sale of Panther Mini Storage in Petal, Mississippi.

 

Argus Active in Iowa

 

Argus Self Storage Advisors brokered the sale of CP’s Stor-It in West Burlington, Iowa.

 

U-Haul Plans Georgia Facility

 

U-Haul is developing a new moving and storage location in Locust Grove, Georgia. The facility is set to be complete in 2026.

 

Talonvest Secures Loan for Metro

 

Talonvest Capital Inc. closed a $22.5 million loan for Metro Self Storage for a four-property portfolio. The facilities are located in Franklin, Tennessee, Austell, Georgia and Orlando and Riverview, Florida.

 

Copper Offer Hybrid Management

 

Copper Storage Management is offering Storage Concierge, a hybrid management solution for facilities that require a large onsite weekly presence because of their size and location.

 

Elevate Offering Doors, Hallways

 

Elevate Structures now offers doors and hallway systems. This expanded product offering means Elevate will include primary structure, partition, exterior metal walls, roof, doors and hallways. The door offering will feature a variety of national manufacturers.

 

Smith Joins Drive-Up

 

Drive-Up Storage has named Robbie Smith as executive vice president – self storage. Smith will oversee the portfolio and spearhead expansion into third-party management. He was most recently director of special accounts at Storage Asset Management.

 

Diamond Point Plans Conversion

 

Diamond Point Development intends to convert a semi-vacant building in New Haven, Connecticut, to storage, according to Hartford Business.

 

MJ Partners: 2023 a Subdued Year

 

Self Storage REITS reported subdued operating results for 2023, driven by low housing activity, according to MJ Partner’s Self Storage Market Overview. Anticipated easing interest rates that stimulate home sales offer optimism for new customer demand and investment activity.

 

Manhattan Adds in Borough

 

Manhattan Mini Storage now manages a facility at 155 West 29th Street. It’s the 21st location in the boroughs. The facility is owned by The Davis Companies in partnership with Highland Development Ventures.

 

Upstate Town Bans Storage

 

The Lewiston, New York, board of trustees have banned self storage as a permitted use in business and residential business districts. They are still eligible for a use variance.  

 

StorHub Heads Down Under

 

Warburg Pincus-backed StorHub has launched in Australia with a portfolio of five facilities. StorHub Australia marks the seventh market of StorHub’s regional expansion.

 

 


 

 

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