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NEWS ROUNDUP

DISPOSITION: The Gorden Group facilitates the sale of J&J Mini Storage in Fallon, Nevada. The owner-managed facility was approximately 76% occupied and offered value-add potential through lease-up, operational improvements and revenue management. The property was acquired by a local self-storage investor expanding its portfolio. Darsh Desai and Jeff Gorden, CCIM, represented the seller, Steven M.

FINANCING: SROA Capital launches SROA Capital Fund X, targeting $750M in commitments to acquire under-managed and undercapitalized self-storage assets nationwide. The fund will pursue NOI growth through operational optimization, technology-enabled revenue management, and strategic capital improvements. Benjamin S. Macfarland III, CEO and Co-Founder, and Owen Holm, Managing Director and Head of Investor Relations, lead the initiative. Fund X follows SROA’s Fund IX, which raised more than $1.1B in total commitments, including co-investment capital.

DEVELOPMENT: SecureSpace Self Storage opens SecureSpace Rockville, comprising two adjacent facilities totaling 1,454 units and 127,000 SF at 4 and 44 Research Place in Rockville, MD. Built in 2016 and 2020, the properties offer climate-controlled and drive-up storage with enhancements underway, including upgraded offices, AI-enabled security cameras and sensors, and complimentary Wi-Fi. The facilities are located along Interstate 270, which sees approximately 219,000 vehicles daily.