Self Storage
SSS Pays Record Price for Large Self-Storage Portfolio in Michigan
The National Storage Centers, a 750,000-square-foot portfolio comprising of 12 self-storage facilities located across Michigan was sold last month at a record price.
Metro Storage Answers Chicago’s Demand
Metro Storage is giving Chicago what it needs—more quality self-storage facilities.
Roslindale Self Storage Sold to The Grossman Companies
A family-owned real estate company expanded its self-storage portfolio in Boston with the acquisition of a 44,000-square-foot property in Roslindale, one of the city’s primarily residential neighborhoods.
Boston-Based Investor Buys 50-Unit Apartment Complex in Cleveland Heights
Noble Summit Apartment Properties LLC is the new owner of the apartment complex at 2734 Noble Road in Cleveland Heights. The Boston-based company paid $1,330,000 or $26,600 per unit, to purchase the multi-family property in a transaction which closed earlier this year.
$14 Million CubeSmart Self-Storage Facility Approved for Development
The Boston Redevelopment Authority (BRA) green-lighted a project proposal to transform the vacant warehouse at 99 Rivermoor Street in West Roxbury off of VFW Parkway into a high-quality self-storage facility with new loading areas and accessory uses.
Berkadia Finances Three Seattle-Area Self-Storage Facilities
Berkadia recently announced that the company’s Seattle office has completed $21 million in combined loan proceeds for three different self-storage facilities. The commercial real estate company arranged the financing for the properties located throughout the Puget Sound area. The borrower is Ray Moore Construction, with the company working with a Berkadia team led by Senior Vice President Louis Weisman. The loans were a 10-year, interest-only, fixed-rate loans secured through a major Wall Street lender.
Harrison Street Sells 22 Self-Storage Properties for $223M
Harrison Street Real Estate Capital has sold 22 self-storage properties totaling 1.7 million square feet to CubeSmart as the first part of a $223 million, two-tranche deal.
Bankruptcy Auction Set for 59-Unit Self-Storage Facility Stormax USA in Albuquerque
Albuquerque-based self-storage facility, Stormax USA, has filed for bankruptcy. As a result, the property will be sold through a live auction on November 24. SVN Auction Services’ Louis B. Fisher III, CAI, is leading the auction efforts. Written bids are due November 21 and will sell to the highest bidder per the court order.
Asurion to Open Call Center in North Las Vegas; U-Haul Opens Self-Storage Facility
North Las Vegas is set to receive a considerable economic boost as Tennessee-based tech company Asurion LLC recently announced it is expanding operations in the area. The tech insurance provider will reportedly open a new office in North Las Vegas and will create around 800 new jobs in the next five years. Asurion will hire approximately 500 people in the following year alone, as its opens a call center in an office property located near U.S. Highway 95 and the Las Vegas Beltway.
Business Property Trust Picks Up Broadway SelfStorage for $1.1M
Tucson’s Broadway Self Storage changed hands just recently, a trade publication reports. A limited liability company acquired the facility from Broadway Wilmot Self Storage, LLC and paid $1.1 million.