A two-property Store It All portfolio totaling 129,000 net rentable square feet and 946 climate-controlled units traded in the Myrtle Beach, South Carolina, metro area in June 2026. List Self Storage's June 11-17 transaction roundup documented the sale of institutional-grade assets at 5012 Highway 17 Bypass South in Murrells Inlet and 7148 Ocean Highway in Pawleys Island. Both facilities were built in 2021. Buyer and sale price were not publicly disclosed.
The deal is a supply-constrained coastal trade at a moment when billion-dollar REIT mergers dominate headlines. The math that mattered: less than 6 square feet of storage per capita in Murrells Inlet and population growth running more than three times the national average.
What Did the Buyer Acquire?
The portfolio spans two adjacent coastal submarkets along Highway 17, the primary corridor through South Carolina's Grand Strand.
Murrells Inlet (5012 Highway 17 Bypass South): Climate-controlled units with gated access, video surveillance, and ground-floor loading. The facility sits roughly one mile from downtown Murrells Inlet, near Brookgreen Gardens, the MarshWalk dining district, and Tidelands Waccamaw Hospital. Store It All markets 7 a.m. to 10 p.m. tenant access seven days a week.
Pawleys Island (7148 Ocean Highway): A companion coastal asset across the Highway 17 corridor from Hog Heaven restaurant, serving Georgetown, Pawleys Island, and Murrells Inlet demand pools. Climate-controlled interior storage with dollies, handcarts, and 24/7 video surveillance.
List Self Storage classified both properties as institutional-grade, fully stabilized, and built in 2021. That vintage matters: the assets never went through a pandemic-era lease-up at peak rates, but they also carry no deferred maintenance from a 1990s conversion. Buyers acquired modern building systems, current security infrastructure, and a tenant base established over five operating years.
Why Does the Myrtle Beach Corridor Command Institutional Bids?
The Grand Strand is not a Sun Belt oversupply story. It is a seasonal and retirement-driven demand market with physical constraints on new development.
Murrells Inlet's StorTrack snapshot from List Self Storage shows less than 6 net rentable square feet per capita. The national benchmark hovers near 7 square feet. Markets below 5 to 6 square feet per capita consistently support above-average rent growth when population inflows continue. RentCafe's May 2026 national data showed 30% of large US cities posting positive year-over-year street rates, led by supply-starved metros where completion pipelines are thin.
Population growth in Murrells Inlet exceeds three times the national average, per List Self Storage's June 2026 roundup. Coastal South Carolina draws retirees, second-home owners, and tourism workers who generate storage demand independent of the frozen national housing market. Boats, RVs, and seasonal furniture cycles add vehicle and climate-controlled demand layers that inland suburban facilities do not capture.
Highway 17 visibility is the third pricing input. List Self Storage noted traffic counts exceeding 40,000 vehicles per day along the coastal portfolio corridor. Self-storage is a drive-by business. Premium frontage on a high-traffic coastal highway supports rate power that off-corridor industrial sites cannot match.
Pawleys Island's five-mile StorTrack radius shows 11.88 square feet per capita across 6 facilities and 205,200 rentable square feet, with walk-in rates averaging $1.71 per square foot and online rates at $1.45. Murrells Inlet's denser submarket runs tighter at 15.55 square feet per capita across 13 facilities, with walk-in rates at $1.20 and online at $0.93. The portfolio sits in the more supply-constrained node.
How Does This Trade Compare to June 2026 Deal Flow?
The Store It All portfolio was one of six transactions List Self Storage tracked in the June 11-17 window. The week skewed toward demand-generator fundamentals over pure scale.
U-Haul's State College, Pennsylvania buy: 58,800 square feet near Penn State, 4.76 square feet per capita, $2.32 walk-in average per square foot. Institutional demand anchor thesis.
Andover Properties' Denver-Lakewood portfolio: 155,000 square feet, 1,800 units, rebranding under Storage King USA. Below-replacement-cost institutional acquisition in supply-constrained Colorado corridors.
Self Storage of Rochester, Minnesota: 58,550 square feet near the Mayo Clinic, Class A 2021 build with 2023-2024 expansions.
M&M Self Storage, The Colony, Texas: 9,300 square feet, 91 units, 94% physical occupancy, $142,500 median income within five miles.
The pattern across the week: buyers paid for local demand generators (universities, medical centers, affluent suburbs, coastal retirement corridors) rather than bulk square footage in oversupplied Sun Belt nodes. The Store It All trade fits the demand-generator bucket with a supply-constraint kicker.
Inside Self-Storage's June 2026 acquisitions roundup documented parallel activity: Merit Hill Capital's $12.35 million Westborough, Massachusetts purchase, U-Haul's State College closing, and Andover's Denver metro portfolio. Coastal South Carolina adds a Southeast data point that is not Florida's 10-million-square-foot 2026 delivery pipeline.
What Should Sellers and Buyers Learn From the Coastal Trade?
Three underwriting lessons apply beyond the Grand Strand.
Per-capita supply below 6 square feet is a pricing signal, not a footnote. National averages near 7 square feet per capita blend oversupplied Sun Belt markets with constrained coastal corridors. A portfolio at sub-6 in a growing market deserves a scarcity premium in cap rate and rent growth assumptions.
2021 vintage eliminates conversion risk. Buyers acquired purpose-built climate-controlled product with modern security systems, not a 1970s warehouse with unknown roof lines and irregular unit mixes. The Westborough comp (Merit Hill at $12.35 million) shows institutional appetite for converted infill, but coastal buyers paid for clean vintage without capex surprises.
Entitlement moats compound coastal value. Markets where zoning restrictions block new by-right development protect existing assets from competition. Coastal South Carolina faces local scrutiny on new commercial development, and hurricane-zone construction costs raise replacement barriers. Existing 2021 product on entitled Highway 17 frontage is harder to replicate than the square footage number suggests.
The Numbers Worth Writing Down
- Portfolio size: 129,000 net rentable square feet; 946 units (two properties)
- Locations: Murrells Inlet (5012 Highway 17 Bypass South) and Pawleys Island (7148 Ocean Highway), South Carolina
- Year built: 2021 (both facilities)
- Product type: Institutional-grade, climate-controlled, fully stabilized
- Murrells Inlet supply: Less than 6 NRSF per capita; population growth 3x+ national average
- Highway 17 traffic: 40,000+ vehicles per day (List Self Storage, June 2026)
- Pawleys Island StorTrack (5-mile radius): 11.88 sq ft/capita; 6 facilities; $1.71 walk-in avg/SF
- Transaction week: June 11-17, 2026 (List Self Storage roundup)
- Disclosed price: Not publicly reported
Coastal Supply Discipline Wins the Bid
The Store It All portfolio sale is a reminder that June 2026 deal flow is not only REIT mergers and Sun Belt lease-up specials. Institutional capital still pays for stabilized coastal assets where demographics, traffic, and per-capita supply align.
The buyer and price may stay private. The fundamentals that drove the trade are public: 129,000 square feet, 946 units, sub-6 square feet per capita, and a 2021 vintage on the highest-visibility corridor in the market. In a sector where national street rates flatlined at $133 per month in May 2026, local supply constraints still set the price.
Operators deploying AI to compress labor costs on assets like these will capture margin that competitors adding supply in unrestricted markets cannot touch.
Sources
- Weekly Self Storage Transaction Roundup: 6/11/26 – 6/17/26, List Self Storage
- Store It All Murrells Inlet, Store It All LLC
- Store It All Pawleys Island, Store It All LLC
- Self-Storage Real Estate Acquisitions and Sales: June 2026, Inside Self-Storage
- May 2026 Self-Storage Street Rates Hold at $133, RentCafe / Yardi Matrix