HAN Capital, a Chicago-based real estate investment firm, has completed its acquisition of Wylie Boat & RV Storage in Northeast Dallas. The 153-unit facility is located on more than 10 acres of land in the rapidly growing town of Wylie, TX, a suburb of Dallas, TX. HAN Capital now owns & operates 32 storage facilities throughout 7 states. HAN Capital operates all facilities in the Chicagoland area under its “Chicago Northside Storage” brand, while all other facilities are operated under its “Heartland Storage” brand.
Quinlan Development Group, a privately held real estate investment and development firm based in Manhattan, NY, sold its three-property Northern New Jersey self-storage portfolio for $108.5 million to RXR Realty, a New York company in real estate operating and development. The portfolio has three assets delivered between Q3 2019 and Q2 2021, totaling approximately 3,606 units across 422,609 square feet. Bank OZK provided a total of $46.55 million in construction financing on the three projects. The facilities are located at 591 Union Ave. in Hillside, 174 Route 17 N in Rockelle Park and 1204 Broad St. in Clifton.
A joint venture of Chicago, IL-based Harrison Street and Roswell, GA-based Reliant Real Estate Management LLC bought the 26-property Midgard Self-Storage portfolio for an undisclosed price. The portfolio spans six states, totals 2.7 million square feet and has 18,765 units. It includes nine properties in Florida, eight in South Carolina, five in Tennessee, two in Georgia, one in North Carolina and one in Arkansas. Midgard will operate the properties. Reliant will manage them under a long-term agreement.
Extra Space Storage, based in Salt Lake City, UT, spent $15 million to purchase a three-story self-storage facility at 601 Maynard Crossing Court in Cary, NC. The property has 60,858 square feet of storage space on 6.65 acres and is by the Maynard Crossing shopping center. The seller, Atlanta, GA-based Stein Investment Group, paid 960,000 for the land in 2016 and built the facility soon after. Extra Space Storage said it owns or operates 1,800-plus locations in 40 states, with a total of 1.3 million units and 135 million square feet of rentable space. Source: Triangle Business Journal
Cody Baker of Terrydale Capital, based in Dallas, TX, arranged a $24.2 million, five-year acquisition loan for a self-storage portfolio in South Texas. The portfolio includes eight existing facilities, four vacant sites and one site under construction. An undisclosed correspondent bank provided the loan.
The Colliers Self Storage Group duo of Tom de Jong, senior vice president, and Dana Chobor, transaction coordinator, represented the seller, Extra Space Storage, in a $17 million portfolio sale of two self-storage properties, one at 30 E Victorian Ave. in Sparks, NV and the other in 10650 S Virginia St. in Reno, NV. Northwest Building LLC was the buyer. The properties have a combined 914 units and 98,565 NRSF. The sale price comes out to be $172.48 per square foot and $18,600 per unit.
Berkshire Hathaway purchased the Q-2 Self Storage portfolio, which has two properties in Louisville, KY, with one at 3520 Chamberlain Lane and the other at 6650 Paramount Park Drive. The portfolio has a total of 142,770 NRSF and 1,000 units. Midwest Private Equity Group is the buyer and the seller is a private investor. Berkshire’s Cameron Vale, senior vice president; Andrew Plunkett, vice president; and Parker Sweet, president, represented the seller and found the buyer.
StorageMart purchased facilities in Glen Burnie, MD and in Rosedale, MD. The properties have a total of 131,345 NRSF, 1,407 units and 105 parking spaces. The former owners were Golden Ring Mini Storage and Ritchie Mini Storage. The two sites formerly were under Mount Royal Management and now operate under StorageMart management. Source: KPVI.com
Larry Goldman of Goldman Investment Advisors in Overland Park, KS announced the sale of a three-property self-storage portfolio in Hot Springs, AR. They have a combined 181,952 rental square feet, 1,013 units and 16 acres. The buyer is NSA Property Holdings (Blue Sky Storage). One of the three properties is under construction and will be finished within one month after closing. Goldman is the Argus Self Storage Advisors broker affiliate representing Kansas, Missouri, Arkansas and Southern Illinois. Source: PR.com
Accessible Self Storage, 5020 Old Walkertown Road in Winston-Salem, NC, was sold for $1.15 million to Walkertown Self Storage of Manheim, PA. The 4.29-acre site has seven storage buildings with a combined 15,409 square feet. Source: Winston-Salem Journal
Ready Capital closed on a $9.3 million, 48-month loan to buy, renovate and stabilize a 696-unit self-storage property in Miami Beach, FL. Source: RebusinessOnline
The Storage Acquisition Group announced the closing of a CubeSmart-managed self-storage facility at 3935 W. Cypress St. in Tampa, FL. It has 58,135 NRSF and 591 units of climate- and non-climate-controlled space. David Spencer, vice president and senior advisor with TSAG and executive advisor with Spencer Commercial Group – which is based in Decatur, GA and brokered by eXp Commercial – and Cowles M. Spencer Jr., TSAG’s CEO and president, negotiated the transaction. Source: The Storage Acquisition Group
Michael Morrison of Midcoast Properties Inc. represented the buyer in the sale of Fort Knox Climate Storage, located at 6280 US 76 in Pendleton, SC. The facility has over 500 units, including drive-up and climate-controlled, and is about eight miles from Clemson University.
Marcus & Millichap arranged the sale of Pine Island Storage, a 39,265-square-foot self-storage facility in Saint James City, FL. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher and Gabriel Coe, who are investment specialists in the Columbus, OH office, had the listing and also found the buyer. Ryan Nee, Florida broker of record, helped close the transaction. Pine Island is on Florida’s west coast, and has 266 non-climate-controlled units and 65 climate-controlled ones, all on 3.02 acres of land.
EquiCap Commercial
Jesse Luke of EquiCap Commercial, along with Secure Development Inc., broker of record, sold NexGen Self Storage, 1524 S. Nebo Road, in Yorktown, IN. NexGen has 29,907 square feet and sits on 2.77 acres. Its new name is Copper Safe Storage.
Luke and Mike Pistilli of EquiCap Commercial closed on Northpoint Storage at 8627 N. Hale Ave. in Peoria, IL. Northpoint has 102,600 NRSF, with 601 units across 21 buildings on 6.39 acres.
Luke and Scott Rihm of EquiCap Commercial handled the closing of All-Stor Self Storage at 2214 County Highway A and By-Pass Mini Storage at 3477 Town Hall Road, both in West Bend, WI. Combined, the sites have 61,260 NRSF and 305 units on 7.85 acres.
Luke and Rihm also handled the closing of Port Washington Self Storage at 3215 Northwoods Road in Port Washington, WI. It sits on 3.34 acres and has 245 units across 42,900 NRSF.
