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NEWS ROUNDUP

DISPOSITION: Commune Capital completes the disposition of a self-storage property in Bellevue, Washington, selling the asset to Premier Storage Investors for $50.7M. Built in 2016 on approximately 1.2 acres, the Class A facility totals 103,397 SF and includes 988 climate-controlled and drive-up units. At the time of sale, the property was 93% occupied, reflecting strong operational performance in the Bellevue submarket. The transaction was brokered by Cushman & Wakefield, with Mike Mele, Luke Elliott, Jim Lewis, and Steffan Brown representing the seller.

ACQUISITION: Versal arranges the sale of Lone Star Self Storage located in Waxahachie, Texas. The property is a three-story facility that opened in September 2023 and features 569 climate-controlled units totaling 57,875 NRSF. Ground-level units average 94 NRSF, while elevator-access units average 106 NRSF. The facility is well positioned near Interstate 35 (0.5 miles) and Highway 287 (1.6 miles), providing strong accessibility across the region. Construction highlights include stone exterior accents, a well-designed office space, covered parking, and extensive security features.

ACQUISITION: Argus Self Storage Advisors affiliate Coastal Storage Group announces the sale of Personal Mini Storage (Managed) in Titusville, Florida. The facility spans approximately 4.97 acres and includes 21,180 RSF, comprising 172 drive-up storage units and 55 RV and boat parking spaces. It is a well-established self-storage asset serving the Titusville market along the US 1 corridor. The property was represented on behalf of the seller by Coastal Storage Group, which completed the transaction in a competitive market environment. Josh Koerner represented the seller in the transaction.

DEVELOPMENT: ARCO National Construction partners with R.J. Kelly on the development of a new Class A self-storage facility in Boylston, Massachusetts. The project will redevelop a 6.12-acre site with frontage on Route 140 and visibility from Interstate 290 into a three-story, 103,000 SF self-storage facility serving the Boylston and greater Worcester markets. The facility will feature 797 climate-controlled storage units, including 46 drive-up units, along with a 1,000 SF office. The property will include three customer access points and 19 on-site parking spaces.