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Transactions and Deals: March 28, 2024

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Transactions and Deals: March 28, 2024

Prime Adds in California

 

Prime Group Holdings has purchased a facility in Rocklin, California for $20 million. The purchase comes as Prime closed a $2.5 billion self storage fund aimed at expanding its footprint.

 

 

 

 

 

StorSafe Expands to South Carolina

 

StorSafe Self Storage has expanded to Lexington, South Carolina. This is StorSafe’s 28th facility.

 

Developer Wins Court Battle for Storage

 

Simcove Corporation has won an appeal to develop self storage in a shuttered supermarket building in Bridgeport, Connecticut. A Superior Court judge ruled the city’s planning and zoning commission must approve the storage facility, stating the zoning commission violated city zoning regulations when it refused a special permit.

 

Storage Post Continues Yankees Deal

 

Storage Post Self Storage has renewed its partnership as the official self storage partner of the New York Yankees. Storage Post owns and operates 29 facilities in the New York City metro area.

 

StorageMart Buys 4 Facilities

 

StorageMart acquired four facilities in Fredricksburg, Virginia, and Urbandale, Iowa. The properties will undergo enhancements including upgraded security.

 

MLCO Completes New Mexico Project

 

MLCO has completed a new storage facility in Rio Rancho, New Mexico. The project is part of the Macritchie storage portfolio.

 

Boardwalk Opens Tennessee Property

 

Boardwalk Development Group has opened a new facility in Chattanooga, Tennessee. Extra Space Storage will manage the facility.

 

StowAway Opens in Mississippi

 

StateStreet Group opened StowAway Self Storage in Canton, Mississippi.

 

Illinois Walmart to Convert

 

Spring Property Management plans to convert a vacant Walmart in Charleston, Illinois, into a self storage facility and indoor pickleball facility.

 

StorQuest Releases Impact Report

 

William Warren Group, owner of StorQuest Self Storage, released its inaugural Impact Report highlighting the company’s progress across environmental, social and governance pillars. The report includes details about how the company plans to reduce greenhouse gas emissions, reduce energy, water and waste and enhance workforce diversity.

 

Yardi: Rate Growth Remains Down

 

Annual street rate growth was negative in February, according the Yardi Matrix Self Storage National Report. Average annualized same-store asking rent per square foot was an average of $16.37, down 3.6% year-over-year. All top metros registered negative street rate growth.

 

LSC Opens on Long Island

 

LSC Development opened a facility in Hempstead, New York, on Long Island. Extra Space Storage will manage the facility.

 

Argus Sells North Dakota Asset

 

Argus Self Storage Advisors brokered the sale of Mini Stor All in Fargo, North Dakota, to a national buyer.

 

SmartStop to Sponsor Auto Race

 

SmartStop Self Storage REIT will sponsor the Acura Grand Prix of Long Beach taking place in April in Long Beach, California.

 

Hines Plans Texas Developments

 

Hines plans to build two storage facilities in Frisco and Garland, Texas, growing the firm’s North Texas portfolio to more than a dozen properties.

 

 

 

 

 

| Categories: | Tags: Prime Group Holdings, StorSafe Self Storage, Simcove Corporation, Storage Post Self Storage, StorageMart, Macritchie, Boardwalk Development Group, StowAway Self Storage, Walmart, StorQuest Self Storage, Yardi, LSC Development | View Count: (120) | Return

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