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Posted: 2/20/2018
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Property: Encanto & 83rd Self Storage
Broker: Jeff Gorden
Brokerage: Argus Self Storage Sales Network

Jeff Gorden of Eagle Commercial Realty Services has arranged the sale of Encanto & 83rd Self Storage in Phoenix, Arizona. The self storage facility sold January 4, 2018 for $3,850,000. The property spans just over two acres and provides 375 units of self storage. Eagle Commercial represented the seller. A company formed by Wentworth Property Co. LLC in Phoenix won the deal.

Jeff Gorden shared the following about the sale, “We are humbled to have been a part of this client’s journey; from acquisition of the property, through a reposition plan that we had laid out for them and ultimately to be a part of their sale of the asset.”

Jeff Gorden and Kyle Topper, of Eagle Commercial Realty Services, AMO® in Phoenix, are the Arizona Broker Affiliates of the Argus Self Storage Sales Network and specialize in self storage and RV storage investment properties.

Over the past twelve months, our team has arranged the sale of sixteen self storage properties for total consideration of more than $56 million. 

Property: Concho Mini Storage
Broker: Jeff Gorden
Brokerage: Argus Self Storage Sales Network

Jeff Gorden of Eagle Commercial Realty Services has arranged the sale of Concho Mini Storage in Concho, Arizona. The self storage facility sold January 5, 2018 for $225,000. The property spans two acres and provides 117 units of self storage. Eagle Commercial represented the seller. An Arizona-based buyer presented the winning offer.

Jeff Gorden shared the following about the sale, “This sale reflects our commitment to all of the operators in the industry. Over the past twelve months, our team has arranged the sale of eleven self storage properties in non-metro markets such as this one. As usual, the buyer and seller were both very pleased with the results and are looking forward to new projects.”

Jeff Gorden and Kyle Topper, of Eagle Commercial Realty Services, AMO® in Phoenix, are the Arizona Broker Affiliates of the Argus Self Storage Sales Network (Argus-SelfStorage.com) and specialize in self storage and RV storage investment properties.

About Argus Self Storage Sales Network

Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self storage and income property investments. Now the largest self storage brokerage network in the United States, the ASSSN has 38 Broker Affiliates covering nearly 40 markets and a total self storage transaction history of over $2 billion. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit Argus-SelfStorage.com.

Property: Extra Secure Self-Storage
Brokers: Michael Mele and Luke Elliott
Brokerage: The Mele Storage Group of Marcus & Millichap

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Extra Secure Self-Storage, a 76,236-square foot self storage facility located in Pompano Beach, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.

Michael A. Mele and Luke Elliott, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Mele and Elliott. “This was a very strategic purchase for Value Store It,” said Mele. “Acquisition gives them a growing market share in a metro area that is dominated by publicly-traded REITs.”

Extra Secure Self Storage is a Class A, institutional-quality self storage facility situated in one of the most sought-after primary markets in the country. Located at 2250 North Powerline Road in Pompano Beach, Florida, the stabilized facility benefits from excellent visibility and traffic counts along the intersection of Florida State Road 845/West Copans Road totaling approximately 75,000 vehicles daily from all directions. Additionally, the facility has quick access to two of Florida’s main thoroughfares, Interstate 95 and Florida’s Turnpike.

“This client success was the result of a 10-year plus relationship with the owner of the site. The transaction was a win-win for all parties involved,” said Elliott. 

Property: Bay Area Mini Storage
Brokers: Michael Mele and Jon Danklefs
Brokerage: The Mele Storage Group of Marcus & Millichap

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bay Area Mini Storage, a 95,479-rentable square foot self storage facility located in Corpus Christi, Texas, according to Craig R. Swanson, regional manager of the firm’s San Antonio office.

Jon Danklefs and Michael A. Mele, investment specialists in Marcus & Millichap’s San Antonio and Tampa offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured by Mr. Mele and Mr. Danklefs.

“Larger institutional buyers are moving into secondary markets like never before,” says Mele. “With the larger markets becoming costly and overbuilt, markets like Corpus Christi have become very attractive.”

Bay Area Mini Storage is located at 2301 Rodd Field Road in Corpus Christi, Texas, and has superb visibility along Texas Highway 357. The 635-unit facility is surrounded by a high ratio of renter-occupied housing units with numerous commercial developments currently underway in the Rodd Field Road area. Initially constructed in 2003, the facility expanded in the years 2006, 2014, and 2016 to continue matching Corpus Christi’s ever-growing population.

“As South Texas continues its population boom, Corpus Christi has emerged as a major destination for migration. More importantly, this property was located in the heart of new, single-family and multifamily housing developments in Corpus Christi,” adds Danklefs. 

About Marcus & Millichap (NYSE: MMI)

With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors. To learn more, please visit: MarcusMillichap.com

Property: Ben White Self Storage
Brokers: Steve Mellon and Brian Somoza
Brokerage: JLL

JLL’s Capital Markets experts today announced the sale of Ben White Self Storage, a sustainably designed, Class A self storage facility in Austin, Texas.

JLL Managing Directors Steve Mellon and Brian Somoza represented the seller, Farragut Investments Inc., in the transaction.

“This property is at the forefront of self storage design and construction,” said Somoza. “The savings gained from the sustainable features of this property coupled with the high growth projections for the surrounding area should result in an excellent investment opportunity for the new owner.”

Completed in 2017, Ben White Self Storage is composed of two three-story buildings encompassing 951 units. As one of the first sustainably designed self storage facilities in the U.S., the property has a Four Star rating from the Austin Energy Green Building program and is pursuing LEED Certification. Sustainability features include: solar panels that provide for the facility’s annual energy demand; rainwater harvesting for irrigation needs; a geothermal heating and air-conditioning system; energy conserving mechanical, lighting and conveyance systems; and low-flow plumbing fixtures.

Located at 6130 E. Ben White Blvd., the property is set in the rapidly growing southeast Austin submarket. More than 35,000 new residential units are planned or proposed within a five mile radius of the property. Its location also provides excellent visibility, with approximately 93,000 cars passing by each day.

General features of the property include perimeter fencing, electronic gate and building access control, 24-hour surveillance, oversized elevators, climate controlled units, drive-up units and a retail-oriented customer service office.

The facility will continue to be managed under the Cubesmart brand.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $145 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

Property: Miami Area Self Storage Facility
Brokerage: NKF Capital Markets

NKF Capital Markets Self Storage Group has completed the sale of a newly developed, 870-unit self storage facility in the Miami suburb of Pembroke Pines, Florida. The 84,000 square-foot facility sits on 3 acres at the intersection of Pines Boulevard and S.W. 186th Avenue and includes a two-story building and a three-story building with 100 percent climate controlled units. The property was purchased by a public non-traded real estate investment trust.

NKF Capital Markets professionals Aaron Swerdlin, vice chairman, and Kenneth Cox, executive managing director, led the national self storage capital markets team representing the seller.

“As we’ve seen on multiple recent transactions, interest levels remain extremely high for quality, institutionally designed and built self storage assets. The diversity and depth of the capital deploying into the space is more knowledgeable than ever before about the product type. That, coupled with sustained operational outperformance relative to other real estate sectors, has led to a robust transaction environment for quality, Class-A deals,” noted Swerdlin.

“We have seen some tightening within the transaction market where new supply is legitimate concern. However, assets and locations like the Pembroke Pines transaction continue to demand the highest quality pool of capital and industry players,” commented Cox.

About NKF Capital Markets

NKF Capital Markets Self Storage Group provides unmatched brokerage transaction and financial services through a deep understanding of the complex self-storage property type combined with a unique knowledge of the local markets across the U.S. to provide expertise in every aspect of buying, selling, financing, capitalizing and owning a single property or national portfolio. The Group has a combined 45-years’ experience in the self storage industry and has completed in excess of $6 billion in transactions across more than 540 properties.

To learn more, please visit NGKFStorage.com

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