Good morning! This is Self Storage List.

→ We are here to serve the owners, brokers, capital providers, and vendors who specialize in self storage. We are the top source for transaction news, industry data, and active property listings. All in a quick email, twice a week.

Do us a favor and forward this email to your favorite self storage pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: Westport Properties acquires self-storage facility in Chino. The 701-unit self-storage facility at 13555 Ramona Ave. will be rebranded under the US Storage Centers platform. Charles Byerly said the acquisition aligns with the company’s strategy of adding high-quality assets in major markets. The facility features 13 buildings with drive-up access, climate-controlled units, electronic gated entry, and 24-hour surveillance. US Storage Centers represented itself in the transaction.

ACQUISITION: The LeClaire-Schlosser Group of Marcus & Millichap arranges sale of Towne Storage Vineyard in Orem, Utah. The 84,745 SF property totals 554 units across 11 single-story buildings on 4.46 acres and was completed in 2019. Jordan Farrer and Adam Schlosser represented the buyer in the off-market transaction. The buyer was Storage Corner Group. The facility was developed by a local family and managed by Towne Storage.

ACQUISITION: The Storage Acquisition Group facilitated the acquisition of a self-storage facility in Florence. The property totals 62,873 rentable SF and includes 624 units. The transaction was led by Bill Sitar, John Cranley, Andrew Burachinsky, and Monty Spencer. Ben Sirk of Sirk & Company served as broker of record.

ACQUISITION: A partnership between The Ardent Cos. and Ironwood Development Partners completed a 950-unit, 108,201 SF self-storage facility in Copiague on Long Island. Extra Space Storage will operate the property. Park East Construction served as general contractor, with design by Michael Sudano Architect PC and civil engineering by R&M Engineering. A formal opening was held in mid-December.

FINANCING: William Warren Group secures $42.6M financing for three self-storage facilities in Hawthorne, Waipahu, and Denver. MetLife and Barclays provided the debt package. The largest loan, $25 million, was tied to a 113,745 SF facility in Hawthorne managed by StorQuest Self Storage. Additional loans included $9 million for a facility in Waipahu and $8 million for a property in Denver.

DEVELOPMENT: St. Johns County approves new RV storage and apartment complex. Proposed projects include CR 210 Boat & RV Storage on 10.62 acres at 3845–3855 CR 210W, Bacon Storage–Brinkhoff Road PUD with 3.5 acres for RV and boat storage, and a 3.16-acre self-storage development featuring 795 units and 227 RV/boat parking spaces. In addition, Thompson Thrift plans Terrassa, a 324-unit luxury apartment complex in St. Augustine, with construction starting July 2024 and completion expected by fall 2026.