99 Units
12 Parking Spaces
6 Warehouse Bays
Self Storage
Closing Date
April 2024
Exclusive Buyer Representation by Claire Matten, CCIM | SIOR
The Opportunity
Sherlock Storage, with 99 units, 12 parking spaces, and 6 warehouse bays, located at 2603 Industry Street, Missoula, Montana, was identified as a match for a buyer seeking value-add opportunities in the self-storage asset class. This property closely aligned with the buyer’s portfolio criteria, presenting a strategic growth and investment opportunity.
The Approach
Claire’s detailed market analysis and understanding of the rent upside potential led her to Sherlock Storage as a potential acquisition target. Recognizing the scarcity of value-add opportunities in the current market, Claire undertook diligent underwriting and developed accurate market projections to validate the deal’s feasibility. SterlingCRE’s extensive knowledge in self-storage operations and management was crucial in mapping out a successful acquisition and lease-up strategy, ensuring the property’s potential was fully realized.
The Outcome
The acquisition of Sherlock Storage met the buyer’s needs by fulfilling the investment criteria for value-add infill opportunities, marking a significant addition to their portfolio. This transaction exemplifies SterlingCRE’s ability to navigate the complexities of the self-storage market, identifying and securing properties that offer substantial growth potential and align with investor goals.
Blue Mountain Self Storage Partial Equity Sale
$1.2M
Project Size
90 Units
Self Storage
Closing Date
April 2024
Exclusive Seller Representation by Claire Matten, CCIM | SIOR
The Opportunity
Blue Mountain Self Storage, located at 5990 Highway 93 South, Missoula, Montana, with 90 drive-up units and expansion potential, represented a promising investment opportunity. The sale needed to match the owner with a buyer who shared a similar vision for the property’s future.
The Approach
Leveraging deep market insight and understanding of both the seller’s and potential buyers’ perspectives, Claire facilitated a match which aligned the operational visions of both parties. This strategic partnership ensured the equity sale would benefit all involved, maintaining the property’s growth trajectory and operational standards.
The Outcome
The partial equity sale of Blue Mountain Self Storage was executed to the satisfaction of both the seller and the buyer, demonstrating Claire’s expertise in matching property owners with the right investors. By ensuring a shared operational vision for the future, the transaction met the seller’s objectives and positioned Blue Mountain Self Storage for continued success under its new shared ownership.
Montana’s Self Storage Market
Montana’s self storage market, despite witnessing an influx of new facilities, remains resilient. Rent growth is softening or plateauing in several of Montana’s submarkets. New developments are proving challenging to justify financially, while value-add opportunities are becoming increasingly scarce. Developers are also showing a preference for specialty boat/RV storage, and there’s a need to watch for market saturation while considering expansion opportunities. Understanding these trends is essential for investors looking for opportunities in the self storage market.
Investments Aligned with Strategic Goals
Claire Matten, CCIM | SIOR and SterlingCRE Advisors are committed to aligning investment opportunities with strategic goals and operational visions in the Montana self storage market. Claire’s approach, characterized by thorough market analysis, identifying client needs, and offering an in-depth understanding of the self-storage market and operations, has resulted in these recent successful outcomes. For investors and property owners looking to navigate the complexities of the self-storage market, Claire and SterlingCRE Advisors offer invaluable expertise and support.
