Budget Self Storage in Temple, Hills, MD, Sold
Budget Self Storage, a 64,440-net-rentable-square-foot facility in Temple Hills, Md., recently sold to a growing self-storage investor with properties in Maryland and Pennsylvania, according to a press release by Marcus & Millichap, the commercial real estate firm that brokered the transaction. The seller was local real estate investor who has owned the property for nearly 20 years.
Weekly Self-Storage Development Round Up
Phoenix, AZ-based Wentworth Property Company is converting a former semi-conductor plant at Thomas Road and Pima Road in Scottsdale into a 120,000-square-foot self-storage facility. Completion is expected during the second quarter. The facility will be managed by US Storage Centers.
7 Self-Storage Companies to Watch in 2016
New development projects began to emerge across the country in 2015, so it should come as no surprise that our list of storage companies to watch in 2016 is dominated by developers. Some have been in the industry for decades, and some are just getting started. We expect these companies, and several more not mentioned here, to make headlines in the coming months as new supply ramps up.
The 10 Most Popular Stories of 2015
It has been an impressive year for the industry, marked by record performance for the four major REITs and the beginnings of a new development cycle that is likely to last several years. The year also brought us a fifth publicly traded REIT and the debut of a publicly traded self-storage lending firm.
Self-Storage Acquisitions Pour in as 2015 Comes to a Close
An unidentified investor purchased Budget Self Storage, a 64,440-square-foot facility at 5061 Beech Place in Temple Hills, MD. The facility sold for $4.25 million. Robert Bloch and Michael Mele of Marcus & Millichap represented both parties.