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NEWS ROUNDUP

ACQUISITION: U-Haul’s AMERCO Real Estate Company acquires Wantage Plaza and CubeSmart-managed self-storage facility in Wantage, NJ. The 116,450 SF mixed-use property at 205 NJ-23 spans approximately 13 acres and includes a 34,292 SF shopping center and an 82,158 SF self-storage facility with 527 climate-controlled units and 108 secured RV and boat parking spaces. Matthews Senior Vice President and Associate Director Patrick Forkin and Vice President Rob Cook represented the private family-office seller, which plans to complete a 1031 exchange.

JLL Capital Markets arranges $20M construction loan for Urban Street Development’s Tarpon River Self Storage project in Fort Lauderdale, FL.

FINANCING: JLL Capital Markets arranges $20M construction loan for Urban Street Development’s Tarpon River Self Storage project in Fort Lauderdale, FL. The planned five-story, Class A facility at 201 S.W. 14th St. will span 97,862 SF and include 1,070 fully climate-controlled units. Pinnacle Financial Partners and Synovus provided the financing, with Will Ruiz representing the lenders. JLL’s Debt Advisory team was led by Senior Director Michael DiCosimo, Director Max Lescano, and Analyst Luke Maganas.

DEVELOPMENT: Load and Lock Climate Controlled Storage opens in Greenville, OH. Located at 395 Martin St., the facility offers indoor, heated and climate-controlled units in multiple sizes, with a fire sprinkler system, carts, two truck docks and monthly pest control. Owned by Bill Coomer and John Baumgardner, the property provides secure keypad entry and daily access from 7 a.m. to 9 p.m.

DEVELOPMENT: Construction begins on Freeman Self Storage in Katy, TX. Located at 23920 Freeman Road in the Elyson neighborhood, the planned three-story, Class A facility will feature more than 850 climate-controlled units. C3 Katy Ventures is developing the property, with Right Move Storage set to manage it upon completion. Construction is expected to continue through 2026, with an anticipated opening in fall 2027.