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ACQUISITION: Marcus & Millichap negotiates the sale of The Storage Place, a 45,950 SF self-storage facility located in Fort Wayne, Indiana. The property consists of 15 drive-up buildings with 423 non-climate-controlled units and 36 outdoor parking spaces, situated adjacent to Fort Wayne International Airport. Jeffrey Herrmann and Sean Delaney represented the seller and procured the buyer, both Indiana-based limited liability companies.

ACQUISITION: Argus Self Storage Advisors affiliate brokers Area Storage Advisors announce the sale of 19th Ave Storage in Willmar, Minnesota. The property is a modern self-storage facility that originally opened in 2024 and was expanded in August 2025, totaling 29,084 SF. The asset includes a planned Phase III expansion of approximately 24,000 additional SF, positioning it for continued growth alongside increasing local demand. Area Storage Advisors, broker affiliates of Argus Self Storage Advisors, represented the seller in the transaction.

DEVELOPMENT: Nan Realty Holdings, LLC is proposing a new self-storage development in Hillsborough, New Jersey, that would include a 710-unit, three-story facility along Route 206 North. The proposal was presented at the May 6 Township Zoning Board of Adjustment meeting and involves demolishing existing structures at 269 and 271 Route 206 North. The planned development calls for a 103,560 SF self-storage facility featuring a mix of climate-controlled and non-climate-controlled drive-up units. Paul D. Mutch Jr. of Stonefield Engineering & Design described the site as a “hodgepodge of businesses”. Matthew Seckler testified that the project would generate relatively low traffic volumes based on industry data, and confirmed that the New Jersey Department of Transportation access permit for a right-in, right-out driveway is still pending.

FINANCING: Legacy Pointe Properties secures $60M refinancing for a six-asset self-storage portfolio in the Charlotte, North Carolina metro area totaling 3,899 units. The financing retires existing construction debt on the portfolio, which consists of Extra Space Storage-branded facilities across North Carolina and South Carolina that came online between 2022 and 2024. The 490,161 SF portfolio includes properties located at 140 Ebert Lane in Mooresville, 1510 Northside Drive in Statesville, 5895 E. N.C. 150 Highway in Denver, 987 Armstrong Park Road in Gastonia, 1480 Biscayne Drive in Concord, North Carolina, and 4465 York Highway in Rock Hill, South Carolina. The senior bridge loan was provided by Basis Investment Group LLC, supporting stabilization of the recently completed assets and replacing construction financing.

81,180 SF Building | 6.25% Cap Rate | 584 Units | 70.0% Occupancy

9,100 SF Building | 89 Units | 7.24% Cap Rate

83,032 SF Building | 354-Unit | 74% Occupancy

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