a modern 854-unit, 83,040-square-foot self-storage facility in downtown Memphis, Tenn. Matt Weilgus of Mag Mile Capital represented the borrower, Global Storage Partners, LLC. It will be branded as and managed by Public Storage.
A joint venture between DYO Invest- ments, MacArthur Holdings, and Live Oak Capital Partners has completed its newest project: a 90,000-square-foot
self-storage facility located in Metro Atlanta. It is situated on 9.2 acres and includes climate-controlled, drive-up, and drive-up climate-controlled units. Max Design Group was the architect for this newly opened development; JM Williams was the general contractor on the project. Flex Storage, a division of DYO Invest- ments, now serves as property manager for the asset.
Rhino Storage Group has opened its first smart facility in Morgantown, W.V. The brand-new, 88,000-square-foot facility is Rhino Storage Group’s first ground-up build in West Virginia, and
it’s the first high-end smart facility in Morgantown. Sales & Acquisitions
Storage Rentals of America has purchased a facility in Worcester, Mass., from Value Store It. The property sold for $5 million. JLL recently negotiated the
sale of
Imperial Self Storage, a 94,220-net-rent- able-square-foot, 791-unit facility in Sugar Land, Texas. The property was operated by CubeSmart. Steve Mellon and Brian
Somoza of JLL represented the seller, SurePoint Self Storage, in the transaction. OB Cos./My Place Self Storage, purchased the facility for an undisclosed price.
Invesco Real Estate Income Trust Inc. has acquired two self- storage portfolios for a combined total of $42 million. The portfoli- os comprise five properties in Bend, Ore., and Clarksville, Tenn. The Oregon portfolio features two single-story, drive-up properties that total 62,805 square feet and 674 units; the Tennessee portfolio includes three single-story, drive-up properties that total 204,425 square feet and 1,347 units.
The Hatcher Coe Group of Marcus & Millichap announced the sale of a 117,390-net-rentable-square-foot
facil-
ity managed by Extra Space Storage in Kansas City, Mo.
Argus Self Storage Advisors’ Stuart P. LaGroue, Sr., and Bill Barnhill, CCIM, represented the seller of Crystal Mini Storage and Services, Inc., a 13,565-rentable-square-foot facility in Greenville, Ala. The property was purchased by an out-of-state investor for $700,000.
Tom Gustafson and Matt Davis of Colliers recently sold DIY Storage Center, a 56,134-square-foot, fully automated facility in Danville, Ill.
Hines Global Investment Trust has
acquired a five-property portfolio in Nashville, Tenn., for $102 million. The assets are located in urban Nashville, Franklin, and Hendersonville, as well as
a pair of facilities in Murfreesboro. The portfolio encompasses a total of 3,200 storage units and 341,000 square feet.
Storage Post Self Storage continues to expand its portfolio with the addition of
two recently developed self-stor-
age properties within the New York City MSA. Storage Post-Elizabeth and
Storage Post-Perth Amboy have a combined total of 227,000 gross square feet. Both facilities are located in New Jersey.
Criterion Group has acquired eight industrial outdoor storage properties totaling 151 acres for an aggregate purchase price of $45.3 million. With these acquisitions, Criterion Group’s portfo- lio now includes investments in 13 states; the newly acquired properties are located in Connecticut, Florida, Georgia, North Carolina, Texas, and Virginia.
Armstrong Capital Development com- pleted the disposition of a self-storage facility in Denver. An institutional buyer acquired
the 80,400-square-foot,
three-story, 569-unit facility for an undisclosed price.
MiniStorageMessenger.com • September 2022 33
Marcus & Millichap arranged the sale of U-Storage, a 36,400-square-foot facility in Las Vegas, Nev. The asset sold for $4.45 million. Nick Kornieck, Michael R. LaBar, and Michael L. Shaffner, investment specialists in the firm’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.
Marcus & Millichap arranged the sale of Brauntex Storage, a 194-unit facility on 2.54 acres in New Braunfels, Texas. Dave Knobler and Jon Danklefs, investment specialists in the firm’s Houston and San Antonio offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a New York-based company with facilities across the country, was procured by Knobler and Danklefs.
Argus Self Storage Advisors’ Stuart P. LaGroue, Sr., and Bill Barnhill, CCIM, represented the seller of Southern Storage, a four-property self-storage portfolio in Mississippi. The portfolio comprised 421 units and 50,915 rentable square feet. It was sold for $3.9 million to MSU4301LE LP, a Delaware Limited Liability Partnership.
MESSENGER NEWS
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