Springtime is a time of new growth in the natural world. Trees and shrubs are starting to leaf out. Tulips and daffodils are blooming. Many animals give birth to their young. It’s a time of coming out of hibernation and out of the doldrums of winter. The world of self storage seems to be coming out of hibernation, too. Additions are being added to facilities while other facilities are finding buyers.
Austin Highway Self Storage completed their 3500 square-foot expansion on their facility located at 1254 Austin Highway. (This is just outside of Terrell Hills and Alamo Heights on the North Central Side.) There are 200 new units and an oversized elevator. A new canopy now protects customers from the weather as they are moving in and out of their storage unit.
Brian Cisarik and Robert Loeb, owners of Austin Highway Self Storage, have two additional facilities. They have the Castle Hills Self Storage facility and the 3009 Self Storage. They offer storage space for businesses in addition to units for personal use.
In Georgia, the Amsdell family of companies has purchased a self storage facility in Conyers. This is the fourth addition to their portfolio in the Atlanta market. The facility has 87,000 square feet of rental space. This latest acquisition will be branded under the Compass Self Storage name. Earlier in April, Amsdell purchased a property in Memphis. This brings the number of facilities purchased since March 2012 up to 20.
Sage Road Mini Storage in Medford, Oregon, recently sold for $1.2 million dollars. Built in 1992, the facility had been family owned and operated. It has 31,424 square feet of rentable space. The Argus Self Storage Sales Network, based in Denver and who specializes in self storage properties, handled the sale. They did not disclose the identity of the person who purchased it.
The Argus Self Storage Sales Network also finalized a deal in Arkansas. Larry Goldman was the broker. American Self Storage in Siloam Springs was recently sold for $1.4 million dollars. The facility is on 8.8 acres of land and has 58,125 square feet of rentable space.
Local investors purchased the facility as part of a 1031 Tax-Deferred Exchange. The First National Bank of Fort Smith provided part of the financing of the sale.
“Developers finish 35,00 square-foot expansion to Austin Highway Self Storage.” San Antonio Business Journal; 25 April 2013.
“Compass Self Storage buys another property in the Atlanta market.” Crains Cleveland Business; 25 April; 2013.