by Bruce Goldberg | Nov 7, 2024 | Development
DXD Capital broke ground on an 870-unit self-storage project in San Antonio, TX. The multistory facility at 11202 Misty Woods St. will have 80,490 NRSF and climate control. Extra Space Storage will manage the site, which is scheduled to open in Q3 2025. Reliable...
by Bruce Goldberg | Nov 7, 2024 | Acquisitions, General Storage Advice, News
In Wisconsin, a 702-unit self-storage facility at 10448 N. Port Washington Road in Mequon was sold for $16.4 million. An affiliate of Milwaukee-based Blue Ribbon Management LLC, which purchased it in 2021 for $3.35 million, sold the facility. At that time it was a...
by Bruce Goldberg | Oct 30, 2024 | Acquisitions, Industry Trends, News
U-Haul purchased a pair of facilities in Alabama formerly operated as Wolf Pack Storage. The facilities in Robertsdale and Elberta were acquired on Oct. 22. The properties had served as U-Haul dealer locations for more than 20 years. The facility at 20121 Baldwin...
by Bruce Goldberg | Oct 30, 2024 | Development, Industry Trends, News
West Coast Self-Storage opened a new self-storage facility at 970 Piner Road in North Santa Rosa, CA. It has 613 climate-controlled units totaling 46,910 rentable square feet. Also, the business will be a U-Haul Neighborhood Partner, offering truck and trailer rentals...
by Bruce Goldberg | Oct 16, 2024 | General Storage Advice, People
North Palisade Partners, a development and investment firm focused on industrial, self-storage and industrial outdoor storage (IOS) and based in Northern California, recently made a big move when it named industry veteran Steve Cobbs, 50, managing director of the...
by Bruce Goldberg | Oct 16, 2024 | Acquisitions, General Storage Advice, Industry Trends
Hines bought Extra Space Storage in Cerritos, CA, for $91 million, which is considered the largest single-property self-storage sale in history, according to CBRE. The facility has 2,460 storage units and the facility was 88 percent populated at the time of sale. The...
by Bruce Goldberg | Oct 16, 2024 | Development, Industry Trends
A developer seeks to build two new storage facilities in the vicinity of downtown Richmond. NitNeil Partners plans to build the two new facilities at 101 Maury St. in Manchester and 501 Oliver Hill Way near Shockoe Bottom. Last month NitNeil bought 101 Maury St. and...
by Bruce Goldberg | Oct 9, 2024 | Acquisitions, Industry Trends
The Storage Acquisition Group arranged the closing of 4489 McDonough Highway in Conyers, Georgia. The 911-unit, 76,125 NRSF CubeSmart-operated facility was the final transaction in a multi-tiered purchase from developer True Self Storage. In total, the acquired...
by Bruce Goldberg | Oct 9, 2024 | Development, Industry Trends
A new type of self-storage facility is rising in a small Connecticut town—a concept that the developer hopes to replicate again and again. Called Riverworks on 7 and designed by Darien, CT-based Fletcher Development, the facility at 241 Ethan Allen High in Redding...
by Bruce Goldberg | Oct 2, 2024 | Acquisitions, Industry Trends, News
A self-storage facility in North Miami, FL sold for $30.8 million. Abreu Development sold the 99,280-square-foot facility at 250 N.E. to SmartStop, about $310 per square foot. The three-story building was finished on the 1.44-acre site in 2023. Building began in 2022...
by Bruce Goldberg | Sep 25, 2024 | Development, Industry Trends
There’s a new plan for the future of a former bowling alley in Beaufort, SC, where Ribaut Road and Firehouse Lane meet. The plan calls for up to 28 commercial office spaces plus personal self-storage units going in back. It also calls for two apartments to be built on...
by Bruce Goldberg | Sep 18, 2024 | Acquisitions, Industry Trends, News
StorageMart purchased a newly built self-storage facility in Canton, GA. The 95,430-square-foot facility is the operator’s fifth location in the state. It offers 865 units and is located at 4843 Holly Springs Parkway. David Paulson, Stephen Lapierre and Wyatt...
by Bruce Goldberg | Sep 18, 2024 | Development, Industry Trends, News
The former site of the Old York Road Skating Club, at 8116 Church Road in Elkins Park in the Cheltenham Township of Pennsylvania, is on sale for an undisclosed amount. A listing says that the rink, built in 1949, will be demolished and redeveloped with self-storage...
by Bruce Goldberg | Sep 11, 2024 | Development, News
LaTerra Development secured an $18.2 million construction loan to develop Raymer Self Storage, a 65,220-rentable-square-foot facility at 14876 Raymer St. in Van Nuys, CA. JLL Capital Markets arranged the financing, obtaining the loan through Calmwater Capital LLC. The...
by Bruce Goldberg | Sep 11, 2024 | Acquisitions, News
Spartan Investment Group has entered the South Carolina market, purchasing a 543-unit self-storage facility in Beaufort. The 60,080-square-foot facility was completed in 2021.The facility is in close proximity to the Marine Corp Air Station Beaufort and the Parris...
by Bruce Goldberg | Aug 28, 2024 | Acquisitions, News
SmartStop Self Storage paid $12 million for a 92,000 self-storage facility in Richmond, VA as part of a two-property portfolio deal with Morningstar Storage. The other property, located in Asheville, NC, sold for $12.5 million. The Richmond self-storage facility is...
