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NEWS ROUNDUP

ACQUISITION: Marcus & Millichap arranges the sale of Public Storage (Managed), an 89,925 NRSF self-storage facility in Las Vegas, Nevada. The property consists of 906 units across a single three-story, Class A building on approximately 2.56 acres. Built in June 2024, the facility is fully climate-controlled and has achieved strong lease-up momentum, exceeding 65% occupancy within its first year of operation. Ian Lindahl and Jordan Farrer represented the seller, a national developer, and procured the buyer, an out-of-state family office.

ACQUISITION: Argus Self Storage Advisors affiliate brokers arrange the sale of Self Storage of Rochester in Rochester, Minnesota. The institutional-quality facility is located at 4851 Maine Avenue SE and totals 58,550 RSF across 268 units. Built in 2021 with expansions completed between 2023 and 2024, the all-steel property offers a mix of drive-up, climate-controlled, and office/warehouse storage units. Tom Flannigan, Alex Ihrke, and Nathan Gottlieb represented the seller and procured the buyer in the transaction.

DEVELOPMENT: Safeguard Self Storage opens a new facility in Levittown, New York, marking its seventh location on Long Island. The property is located at 3245 Hempstead Turnpike and totals 56,275 NRSF with 750 storage units. The facility offers a drive-in loading area, motion-sensor security cameras, computer-controlled access, and daily accessibility for customers. It also features a Bluetooth-enabled mobile app that allows users to make payments, manage accounts, and access the facility digitally.

FINANCING: Versal completes the refinancing of a Coastal California storage portfolio in San Luis Obispo, California. The financing was sourced through a California-based regional bank, with Versal representing ownership in securing the transaction. The loans feature 10-year fixed-rate terms, five years of interest-only payments, and flexible prepayment structures. The portfolio includes Alamo Self Storage and Industrial Park with 564 storage units totaling 64,240 NRSF, 28,400 SF of multi-tenant industrial space, and 37 vehicle and RV parking spaces. Mission Storage Centers includes 530 storage units totaling 54,724 NRSF, along with 28 vehicle and RV parking spaces. The refinancing supports long-term stability and continued performance of the Central Coast self-storage assets.