Go Store It – Nantucket
Self-storage in Nantucket, MA — sponsored by Go Store It Partners
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Go Store It – Nantucket is a Delaware statutory trust (DST) — a structure that lets 1031 exchangers hold fractional interests in real estate — holding a self-storage facility on Tomahawk Road, Nantucket, Massachusetts. It filed one Form D with the SEC on May 5, 2022 and nothing since. The filing names no sponsor entity, only two individual officers and promoters based in Charlotte, North Carolina.
Minimum investment
$25k
Offering size
$50.3M
How much has sold
None sold yet
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Go Store It announced on December 26, 2018 that it had recently acquired a newly constructed, fully climate-controlled self-storage facility on Nantucket.1 Its location page gives the address as 32 Tomahawk Road.2 A February 7, 2023 report placed the building on just under an acre and described its transfer from Go Store It Nantucket LLC to this Trust as an apparent $42 million internal transaction that produced $840,000 for the Nantucket Land Bank.3
- Reported location
- Nantucket, MA
- Property size
- 672 units; 63,000 rentable square feet
Who is the tenant, and what's the lease?
Self-storage has no single tenant — income comes from many individual renters rather than one corporate lease. Go Store It's page for this location advertises month-to-month rentals that customers can cancel anytime, so rates and occupancy can move quickly in either direction.2
How did it end?
Still operating
The sponsor's 2018 release states 672 units, 63,000 rentable square feet, and 100% climate control. The 2023 reports identify Nantucket Storage DST in connection with the apparent sale, but do not say the DST offering was fully subscribed or closed.
672 units; 63,000 rentable square feetSupporting evidence
Counted on Go Store It Partners’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
Nothing in the one Form D on file describes a mortgage, a lender, or loan terms, and no debt figures for this Trust appear in the public record.
Who's behind it?
The Form D names Ryan L. Hanks and Joe F. Teague, Jr. as executive officers and promoters, with a principal place of business at 6805 Morrison Blvd. in Charlotte, North Carolina.4 Nantucket Current reported on February 7, 2023 that the selling LLC was registered to Madison Capital president and CEO Ryan Hanks and the buyer trust to Madison president and COO Joe Teague Jr., at the same Charlotte address.5 That is an independently reported affiliation, not a sponsor designation in the SEC record.
- Sponsor
- Go Store It Partners
- May convert to a REIT
- Not stated
- Offerings from this sponsor
- 0 active / 3 total offerings from Go Store It Partners
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed a new notice, not an amendment, and told the SEC that the first sale had not yet occurred and that it did not intend the offering to last more than one year.4 Under Rule 506(c), an issuer may advertise publicly but must verify that every buyer is an accredited investor.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- GO STORE IT NANTUCKET STORAGE DST
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Go Store It – Nantucket?
Go Store It – Nantucket is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Go Store It – Nantucket?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Is this Trust still open to new investors?
The public record does not say. Only one Form D exists for this issuer, filed May 5, 2022, and it stated that the first sale had yet to occur and that the offering was not intended to run more than a year.[4] No amendment, closing notice, or statement that the offering was fully subscribed has been filed since, so its current status is unresolved on the SEC record.
What is a DST, and why does it appear in 1031 exchanges?
A Delaware statutory trust holds title to real estate and issues beneficial interests to investors. The IRS treats those interests as direct interests in real property for Section 1031 purposes, which lets an exchanger place sale proceeds into a professionally managed building without buying a whole property. Investors are passive: they cannot direct leasing, refinancing, or sale decisions.
What was the $42 million figure reported in 2023?
Local reporting on February 7, 2023 described the Tomahawk Road facility moving from Go Store It Nantucket LLC to Go Store It Nantucket Storage DST in an apparent $42 million internal transaction, which produced $840,000 for the Nantucket Land Bank under its transfer fee.[3] Nantucket Current reported that both entities traced to Madison Capital executives at the same Charlotte address.[5] The reporting characterized it as an on-paper transfer, not an independently verified arm's-length sale price.
What is the minimum investment?
The Form D filed May 5, 2022 reported a $25,000 minimum accepted from any outside investor.[4] The same filing estimated that $800,000 of proceeds would go to payments to persons required to be named as executive officers, directors, or promoters.[4] The private placement memorandum, not the Form D, would govern actual terms.
Does the record show how the property is financed?
No. The single Form D does not disclose a mortgage, lender, loan-to-value, or any leverage figure, and no debt terms for this specific Trust were located in public sources. An investor would need the PPM and the loan documents to know whether the Trust carries debt at all.
Who operates the storage facility day to day?
The property is presented publicly under the Go Store It Self Storage brand, whose location page lists climate-controlled, indoor and drive-up units plus parking for vehicles and trailers at the Nantucket site.[2] The Form D itself names no property manager, and the management agreement would be described in the offering documents.
Chapter 9$42 Million "Sale" Of Storage Facility Nets Land Bank A Massive One-Day HaulLocal coverage reported that the Go Store It self-storage facility on Tomahawk Road changed hands in an apparent $42 million transaction and identified Nantucket Storage DST. Go Store It Acquires A Newly Constructed Storage Facility on NantucketGo Store It announced acquisition of a newly constructed Nantucket facility with 672 units and 63,000 rentable square feet.