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 the second floor. Owners Doc and Andy Burris also plan to overhaul the dilapidated building and replace it with a “lifestyle community” called Ribaut Station offering a mix of residential, retail and commercial space.
Source: Island Packet
Planned
Not enough room for your office stuff or aging office stock? This New York City deal might be helpful, where an eight-story building put up in 1900 will be converted from eight stories to 16. Manhattan Mini Storage will operate the site. A joint venture of Fred Leffel’s Flatiron Equities and self-storage developer Mequity Cos. obtained 152 W. 36th St. for $23.8 million from Falcon Properties. The developers obtained a $50 million loan from Elsee Partners, and a family office gave $17 million in equity. Source: The Real Deal
True Storage, a New Hampshire-based company that develops self-storage facilities, has purchased the former Walmart store at 3701 Portage Road in South Bend, IN for about $5 million and is converting about 157,000 square feet of it into more than 1,000 storage units. CubeSmart will manage the renovated company, which may be ready to open before the end of the month. The South Bend-Mishawaka area has other new self-storage projects going on. One facility recently opened along Indiana 23 by the Toll Road; another is under construction on the former Chi-Chi’s property at Indiana 23 and Cleveland Road. Another is a U-Haul facility along Douglas Road. Source: South Bend Tribune
In McDonough, GA, applicants who propose a new self-storage business off Lake Dow Road will come back to the McDonough Planning Commission for reconsideration. The city council agreed Sept. 16 to remit the case back to the city’s zoning board in November. Source: MHF News
The former JCPenney building at Gateway Town Center will be turned into a two-story, 100,000-square-foot climate-controlled self-storage building in the Brentwood area of California. The project also will add retail stores and affordable housing. GAI Consultants Inc. of Jacksonville, FL is the civil engineer. Gateway Retail Center LLC sold the acreage July 25 for $6 million to Global Jacksonville I LLC, which is part of Global Building LLC of Carlsbad, CA. Source: Jacksonville Daily Record
In Virginia, nearly 118,000 square feet of storage space may be coming to Herndon’s Woodland Park neighborhood, which previously was approved for office uses and could instead become a mostly residential building. Texas-based developer Trammell Crow Residential bought the contract for a little more than 3 acres at the intersection of the Dulles Airport Access Road and Monroe Street so it can put up an apartment building with 320 units plus the storage space. The self-storage facility would be built in the second phase. There would be two parking garages, with self-storage on the ground floor plus a separate garage for the multifamily building. Source: FFX Now
Completed
credit: Saratoga County Chamber of Commerce
Mabey’s Moving & Storage opened a new self-storage facility in Ballston, NY. The third-generation, family-owned company cut the ribbon at 976 Route 67 during a ceremony with the Saratoga County Chamber of Commerce. Source: The Troy Record
Strategic Storage Growth Trust III Inc. purchased its newest self-storage facility in St. Albert, Alberta, Canada. Strategic is a private real estate investment trust sponsored by an affiliate of SmartShop Self Storage REIT Inc. A newly built two-story structure has 36,900 NRSF and includes about 310 units. The company plans to add approximately seven drive-up buildings and 640 units, expanding the total combined NRSF to about 70,500 square feet. Source: Financial Post
Bruce Goldberg
Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.