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07

Transactions and Deals: June 7, 2024

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 Transactions and Deals: June 7, 2024

LSC Active on Long Island

 

LSC Development completed a 7-story facility in Hempstead, New York, managed by Extra Space Storage.

 

 

 

 

 

 

NSA to Internalize PROs

 

National Storage Affiliates Trust will internalize its participating regional operating structure, which is expected to close July 1. NSA’s eight existing PROs, who currently manage 32% of NSA’s 1,050 properties, will transition management to NSA’s platform in phases. The move is expected to simplify NSA’s structure and financial reporting. NSA will continue to operate multiple brands, selecting the brand with the best scale economies in a given market and eliminating brands that are less dominant.

 

Capital 360 Opens California Facility

 

Capital 360 LLC has completed a self storage facility in Canoga Park, California. Extra Space Storage is the manager.

 

Manhattan Office Converting to Storage

 

CSP Properties will convert an eight-story former office and factory building in the Tribeca neighborhood of Manhattan to self storage. White Oak Real Estate Capital and Thorofare Capital made a $21.5 million loan for the project. Public Storage will manage the facility at completion.

 

Spartan Building in Florida

 

Spartan Investment Group will construct a new facility in Eustis, Florida. The property will operate under Spartan’s FreeUp  Storage brand.

 

Meridian Brokers Houston Property

 

Meridian Storage Group brokered the sale of Gessner Self Storage in Houston, Texas, to Checketts Development. The facility will be managed by Extra Space Storage.

 

Marcus & Millichap Manages Indiana Sale

 

Marcus & Millichap brokered the sale of McKinley Penn Self-Lock Storage in Osceola, Indiana.

 

SkyView Promotes Two

 

SkyView Advisors has promoted Codey Dalton and Kara Svendson to vice president of self storage investment sales.

 

Yonkers Considers Storage Moratorium

 

Yonkers, New York, city council is considering an eight-month moratorium on new applications for self storage facilities along with a six-month moratorium on currently functioning facilities.

 

IREGC Hires Data Analyst

 

Quint Seidel has rejoined The Investment Real Estate Group of Companies as data analyst.

 

Sauls Brokers Georgia Sale

 

Sauls Storage Group brokered the sale of Fountain Mini Storage in Columbus, Georgia. Checketts Development was the buyer and will rebrand the facility Storage Express.

 

Calcumate Added to Storagely Software

 

Storagely will integrate Calcumate, a 3D storage calculator, into its technology as a standard feature. All customers on Storagely’s professional and enterprise packages will have access to Calcumate.

 

 

 

| Categories: | Tags: LSC Development, National Storage Affiliates Trust, Capital 360, CSP Properties, Manhattan, Spartan Investment Group, Meridian Storage Group, Marcus & Millichap, SkyView Advisors, Moratorium, Sauls Storage Group, Calcumate | View Count: (210) | Return

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