Sold! Weekly Self-Storage Acquisition Round Up
Ladera Ranch, CA-based Strategic Storage Trust II recently purchased the 74,800-square-foot storage facility at 3101 South Federal Highway in Boynton Beach, FL for $17.9 million. The facility, formerly US 1 AC Storage, features 940 units and was 92 percent occupied at the time of sale.
Self-Storage CMBS Activity Surged in 2015
Self-storage CMBS loan volume soared by 73 percent in 2015 compared to two years prior as investors are increasingly recognizing the value of the niche properties. Specifically, $3.3 billion in commercial mortgage-backed securities (CMBS) loans were issued to self-storage properties in 2015 compared to $1.9 billion in 2013, according to data from Trepp.com.
Marcus & Millichap Arranges the Sale of a 68,362-Square Foot Self-Storage Facility
COCOA, FLA., January 27, 2016 – 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 520 Self Storage, a 53,635-net-rentable-square-foot self-storage facility located in Cocoa, Florida, according to Richard D. Matricaria, regional manager of the firm's Tampa office.
The Mele Group of Marcus & Millichap Releases Results of 2015 Self-Storage Survey
The Mele Group, a self-storage advisory group and partner affiliate of the National Self Storage Group of commercial real estate firm Marcus & Millichap, has released the results of a recent survey it conducted with self-storage owners and investors. The study reveals 2016 forecasting on industry finance, operational performance and real estate.
Strategic Storage Expands in Southeast Florida
Boynton Beach, Fla. – The Mele Storage Group of Marcus & Millichap has brokered the sale of US 1 AC Self Storage at 3101 South Federal Highway in Boynton Beach, Fla.