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ACQUISITION: Andover Properties acquires Storage King USA self-storage facility in Pinehurst, TX, expanding its Texas portfolio to 48 assets. Located at 35335 State Highway 249, the 2015-built property spans nearly 46,000 NRSF and offers climate-controlled and drive-up units. The facility will undergo targeted improvements and benefit from Andover’s revenue management, marketing, and operating platforms as the company works to stabilize occupancy. Brian Cohen, President and CEO of Andover Properties, highlighted the property’s lease-up potential and the company’s plans to enhance operations and customer experience.

DEVELOPMENT: SecureSpace Self Storage opens SecureSpace Tukwila in Tukwila, WA, marking its 14th location in the Seattle metropolitan area. Formerly known as Tukwila Self Storage, the five-story, heated facility at 5950 Southcenter Boulevard spans 53,185 SF and features 625 units in various sizes. Located near the I-5 and I-405 interchange, the property is undergoing upgrades to its leasing office and security systems, including AI-enabled cameras and sensors, along with complimentary high-speed Wi-Fi.

DISPOSITION: Storage Rentals of America acquires At Home Storage, a self-storage facility in Belgrade, MT, approximately 10 miles northwest of Bozeman, for an undisclosed price. Developed in four phases beginning in 2021, the property at 1205 Rizzo Lane spans 95,660 NRSF across 601 units on 7 acres. Mason Gates and Ben Tracy of Matthews represented the seller and sourced the buyer, with Brian Brockman serving as broker of record.

DISPOSITION: Matthews sells Monroe Self Storage, a newly built facility at 1110 North Broad Street in Monroe, GA, to a REIT actively acquiring Class A self-storage assets. Built in 2023, the property features 89,875 NRSF across 646 climate-controlled units and serves the growing Walton County submarket. Executive Vice President and Director Austin McLeod represented the repeat private developer client and sourced the all-cash buyer. The transaction marks McLeod’s third disposition for the seller this year.

84,175 SF Building | 633 Units | 81.99% Occupancy | Access to I-26

63,320 SF (16 Buildings) | 407 Non-Climate Units | 80% Occupancy | Access to Interstate 95 | 7.29% Cap Rate

24,250 NRSF Building | 238 Units | 31.1% Physically Occupancy

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