JLL secured refinancing for Storage King USA – Fort Myers Highway 80, which is a 633-unit facility in Florida. The JLL Capital Markets Self-Storage team represented Andover Properties to arrange a five-year loan from Choice Bank. The money will refinance the existing loan and fund Phase II development, adding 89,721 square feet of additional storage space. The original storage property opened in 2004 and was expanded in 2019.
Source: JLL
Completed
Andover Properties opened a new self-storage facility at 5622 State Highway 100 E in Palm Coast, FL on Florida’s Atlantic Coast between St. Augustine and Daytona Beach. It operates under the company’s Storage King USA brand. The 105,330-square-foot property totals 656 units (564 climate-controlled) and includes 38 outdoor parking spaces. Source: REBusinessOnline
SecureSpace Self Storage opened a new self-storage facility, Secure Space North Plainfield in the township of North Plainfield, NJ (above). It’s located at 825 US-22. It has 88,470 square feet and is 100 percent climate-controlled. North Plainfield has a densely populated area of 122,000 people within a three-mile radius. SecureSpace is based in Redondo Beach, CA. Source: Yahoo/finance
Stowaway Self Storage at 1025 Over Mountain Drive in Elizabethton, TN on Aug. 16. The facility is fully climate-controlled. Source: Elizabethton Star
In Palmdale, CA, Nova Storage Palmdale added more than 350 drive-up, indoor and climate-controlled storage units – totaling 30,000 rentable square feet – to its existing facility. Nova Storage Palmdale now offers 964 units and 106,555 rentable square feet. Source: Street Insider
Under construction
Sunbird Storage opened a five-story building in Greensboro, NC (above) that sits on 2 acres and has approximately 91,000 gross square feet (68 NRSF). The facility has 761 climate-controlled units. The new site is called Sunbird Storage – Battleground and sits at 2204 Battleground Ave. Jamie Bennett, Reade DeCurtins and Jennifer Smeeton developed the facility and are building facilities in North Carolina and Florida. They also have built facilities in Canada and hired Bluebird Storage to manage them. Bluebird’s development team has developed more than 130 self-storage locations totaling 10 million square feet across North America. It manages a portfolio of 2 million gross square feet and 20,000 storage units. Source: Sunbird Storage
A new True Storage location is under construction in the Mall at Greece Ridge in upstate New York. It will replace of the old Sears store, with more than 90,000 square feet of space. Source: Rochester First
DXD Capital acquired land for a 62,125-square-foot facility (above) in Huntington Station, NY, after a two-year battle to obtain building approvals. Extra Space Storage will manage the facility, which has 664 units. The three-mile radius has 80,000 people and $160,000 MHHI. The site has 62,125 NRSF spread across 664 units. Source: LinkedIn
StorTropolis Self-Storage opened a temperature-controlled facility at 601 N. Millridge St. in Olathe, KS. It has 113,010 square feet of leasable storage spread across 867 units and it includes space for large indoor drive-up units for vehicles, boats and RV storage. The company hired Storage Asset Management, based in York, PA, to run the site. Hunt Midwest is a Kansas City-based, privately held real estate development company with six decades of expertise in industrial, self-storage, residential, multifamily and senior living communities. Source: StorTropolis
Planned
In Arizona, the Gilbert Planning Commission approved a rezoning of a parcel on the southeast corner of Val Visa Drive and Elliott Road to make room for a self-storage facility and a retail development. The 4.5-acre parcel formerly was a fitness center that has been closed since 2019. Source: Gilbert Sun News
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.