Phoenix-based U-Haul International Inc. acquired the three-property AA Mini Warehouse portfolio in Mishawaka, Indiana. Together, the facilities at 5510 Shaughn St., 816 E. McKinley Ave. and 5213 Grape Road offer 1,056 units. Established in 1945, U-Haul owns and manages more than 82 million square feet of storage space nationwide.
Liberty Bend Self Storage in Liberty, Missouri, sold to a local investment group as part of a 1031 tax-deferred exchange. The facility at 1122 Old State Highway 210 comprises 60,050 square feet in 482 units. The seller, Russell Family Real Estate LLC, was represented in the transaction by Larry Goldman, an affiliate of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.
Apple Self Storage, which owns 50 facilities and provides asset-management services in Canada, acquired Melanson Road Mini Storage in Dieppe, New Brunswick. The facility at 1655 Melanson Road comprises 30,000 square feet. Founded in 1975, family-owned Apple operates properties in New Brunswick, Nova Scotia and Ontario.
Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., acquired the six-property Pickens Self-Storage portfolio in Berlin and Hamburg, Germany, for €120 million. The three sites in Berlin contain 189,444 net square feet, while other three encompass 147,465 net square feet. Shurgard operates 277 self-storage properties comprising 1.4 million net rentable square feet in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom.
SROA Capital, which operates more than 380 Storage Rentals of America facilities nationwide, acquired SecurCare Self Storage in Aiken, South Carolina, for $6.8 million. Situated on 4.6 acres, the facility at 2598 Whiskey Road comprises 44,351 square feet in 659 units and 96 vehicle-storage spaces. The buyer was SROA 2598 Whiskey SC LLC. The seller was NSA Property Holdings LLC, an affiliate of National Storage Affiliates Trust, which operates the SecurCare brand.
Stor-Mor Self Storage in Rosemead, California, was sold to InSite Property Group, which operates the SecureSpace Self Storage brand. The three-story building at 8635 Valley Blvd. comprises 44,500 net square feet in 660 units and 85 vehicle-storage spaces. The seller, a private owner, was represented in the transaction by Dean Keller, president of commercial real estate firm Bancap Self Storage Group.
The following sales were brokered by Marcus & Millichap (M&M), a commercial real estate investment firm with offices throughout Canada and the United States:
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AA Access Storage in Clearfield, Utah, sold to a privately held investment company. The facility at 375 W. 1700 S. contains three single-story buildings comprising 50,400 square feet in 261 units. The buyer and the seller, the original developer, were represented by Jordan Farrer, first vice president of investments, and Adam Schlosser, senior managing director.
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Secure Self Storage in Clinton, Utah, sold to Mountain West Self Storage, which operates three facilities in Idaho and Utah. The facility at 2277 W. 1300 N. contains four single-story buildings comprising 101,025 square feet in 647 units. The buyer and the seller, a family development group, were represented by Farrer and Schlosser.
The Hatcher Coe Group of M&M brokered the following transactions:
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Empire Self Storage in Traverse City, Michigan, sold to National Storage, which operates more than 30 locations in four states. Built in 2015 on 14 acres at 6400 E. Traverse Highway, the facility offers 71,350 square feet in 500 units. It has approval for a six-building, 300-unit expansion. The buyer and the seller, a limited-liability company, were represented by Gabriel Coe, Nathan Coe, Brett R. Hatcher and Brian Kelly. Fellow broker Steve Chaben assisted.
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Finger Lakes Self Storage in Waterloo, New York, comprises 58,250 net rentable square feet in 330 units and 24 covered vehicle-storage spaces.
Sources:
PR Web, Apple Self Storage Acquires Melanson Road Mini Storage in Dieppe, NB
REBusiness Online, Mountain West Purchases 101,025 SF Secure Self Storage in Clinton, Utah
PR News, U-Haul Operating at 3 Former AA Mini Warehouse and Storage Locations
PR.com, Los Angeles Area Self Storage Property Sold
Aicken Standard, Self-Storage Business, Property on Aiken’s Southside Sell for Nearly $6.8 Million
Globe Newswire, SecureSpace Self Storage Acquires Stor-Mor Self Storage in Los Angeles MSA