Self-Storage: Where Properties Check In, But They Don’t Check Out

A Rollercoaster of Rents and Real Estate: The Self-Storage Saga

Ah, the self-storage industry, where properties change hands faster than a hot potato in a kindergarten game. Let’s delve into the wild world of self-storage transactions in October 2023, where the stakes are high, the units are full, and the drama is...well, stored away neatly in a 5x5 unit.

First up, we have the ever-so-elegant Rosewood Property Co., who swooped in and acquired a Tucson, Arizona, self-storage facility managed by the REIT royalty, Extra Space Storage Inc. Barbara Guffey, the managing principal of Blue Horizon Storage, orchestrated the deal with the finesse of a seasoned broker. Rosewood, the Dallas-based maestro, now gracefully conducts 80 facilities across 23 states.

Then there’s Keith Street Mini Storage in Cleveland, Tennessee, which was handed over to new ownership with Austin McLeod and Hunter Reynolds of Matthews Real Estate Investment Services playing the role of matchmakers in this property love story.

Triple 7 Storage in Oglesby, Illinois, found a new passion under the care of Storage Ninjas and Upper Space Group, rebranding as Bon Voyage Storage and embarking on a journey of 81,000 square feet of vehicle storage love.

U-Haul International Inc., the Phoenix-based behemoth, embraced new properties in Mt. Branson, Missouri, Round Rock, Texas, and Mitchell, South Dakota, expanding their self-storage empire and ensuring that moving and storage remain as synonymous with U-Haul as peanut butter is with jelly.

Prime Group Holdings LLC, the Saratoga Springs-based connoisseur of real estate, elegantly added four unnamed self-storage properties to its collection, spanning across Florida, North Carolina, and New York, with a total of 362,000 rentable square feet in 3,540 units.

And let’s not forget the numerous other transactions brokered by the maestros at Argus Self Storage Advisors and Marcus & Millichap, where properties in Arizona, Georgia, Florida, Texas, Ohio, West Virginia, and Maine found new suitors, ready to embark on their next self-storage adventure.

In this whirlwind of buys, sells, and strategic moves, the self-storage industry remains a riveting saga of opportunities, growth, and the occasional plot twist. Stay tuned for the next chapter in the self-storage chronicles, where the units are plenty, the space is ample, and the stories are never in short supply.

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