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ACQUISITION: The Levin Johnston team of Marcus & Millichap arranges the sale of a 49,922 SF Extra Space storage facility in Fremont, CA. for $18.8 million. A private real estate investor sold the 568-unit property to an institutional self-storage developer, operator and manager. Located at 38491 Fremont Blvd., the facility features mostly drive-up units, controlled gated access and 24-hour surveillance. The Levin Johnston team represented the seller and procured the buyer in the transaction.

ACQUISITION: JLL Capital Markets brokeres the $8.2 million sale of Cherry Ave. self storage in Fresno, CA. A public REIT sold the 5.4-acre, 1,085-unit self-storage facility at 1844 S. Cherry Ave. to PSC Fresno LLC, an affiliate of Pratt Street Capital LLC. The asset includes a three-story building and 12 single-story buildings, offering drive-up units, freight elevators, boat and RV parking and a newly renovated 262 SF office. Brian Somoza of JLL Capital Markets represented the seller in the transaction.

DISPOSITION: The LeClaire-Schlosser Group of Marcus & Millichap negotiates the sale of Pink Door storage & RV in Magna, Utah. A local development partnership sold the 445-unit, 63,630 SF self-storage facility to Zoke Group for an undisclosed price. Located in Magna, the asset was constructed in 2002 and comprises seven single-story buildings with 220 drive-up units, along with covered RV and boat parking. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller in the transaction.

DEVELOPMENT: Spartan Investment Group has opened FreeUp Storage Eustis in Eustis, FA. The 660-unit, 76,200 SF, Class A self-storage facility, located at 36536 South Fish Camp Road, marks Spartan’s sixth self-storage asset in Florida. The Colorado-based firm developed the facility from the ground up, with its in-house construction team completing the project less than a year after acquiring the site in summer 2024. Spartan financed construction with a $6 million loan from Renasant Bank. The facility offers 66,975 net rentable SF, including 340 climate-controlled units, and is situated just off Lake Eustis, about 47 miles from Orlando.

DEVELOPMENT: Sterling Equities opens new self-storage facility in Farmingdale, N.Y., operating under the CubeSmart brand. The115,000 SF, three-story, gated property at 505 Bi-County Blvd. offers nearly 1,000 climate-controlled units ranging from 25 to 375 SF. Construction began in early 2024 and was financed with a $10 million loan from Valley National Bank. The facility sits on a 3-acre site about 40 miles east of Manhattan, near Walmart Supercenter and Republic Airport. Sterling Equities oversees day-to-day operations.

FINANCING: Storage Post secures a $47 million first mortgage loan for its 1,959-unit self-storage facility in Manhattan’s East Village. Nuveen Real Estate issued the note in a transaction arranged by JLL Capital Markets. Storage Post and Almanac Realty Investors acquired the property in 2022 for $61 million and previously held a $40.3 million acquisition loan from Heitman. JLL Capital Markets’ Steven Klein and Robert Tonnessen secured the refinancing. Storage Post also operates locations at 4396 Broadway and 475 Amsterdam Ave.

118,740 SF Building | 5.50% Cap Rate | Access to Gainesville Regional Airport

37,800 SF Building | 5.28% Cap Rate | 35 Unit | Access to I-82, and Tri-Cities Airport | 30 Amp Electrical Service

17,835 SF Building |165 Climate Controlled Units | 6.14% Cap Rate | 89% Physical Occupancy

45,000 SF Building | 5% Cap Rate | 92.6% Occupancy | 161 Units

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