Compass Self Storage has opened a new wine storage cellar at 60 Fredrick Small Road in Jupiter, FL. It has specific humidity levels and a specialty room conditioning system that is supported by a backup generator with a variety of vault sizes. The site also offers...
StorageMart added two new self-storage properties to its portfolio, including one in its hometown of Columbia, MO. The facility is located at 1500 Creekwood Parkway. It covers 42,200 NRSF, holds 312 units and has car parking. The other facility is located in...
DXD Capital completed a 731-unit self-storage facility located in a Qualified Opportunity Zone in Daytona Beach, FL. The project has two single-store buildings with a total of 731 units totaling 63,650 NRSF at 2078 Old Kings Road. It will have 45 parking spaces for...
Updated 4/16/2024 This page contains statistics about the U.S. self-storage industry compiled by The SpareFoot Storage Beat. Statistics on this page will be updated as we receive new data. If you have data that you would like to share or have a question about data on...
Spartan Investment Group, a Colorado-based real estate investment firm focusing on the self-storage sector, recently hired Melissa Robbins as vice president of marketing and Derrick Harris as vice president of operations for its national banner, FreeUp Storage....
Futura, in partnership with Linkvest Capital, completed Nona Cove Self Storage, a 90,000-rentable-square-foot-building in Orlando, FL. The four-story property is operated by Extra Space Storage Management. The facility also features 8,000 square feet of retail space...
Houston-based Lakewood Realty Investments LLC purchased Spartan Storage, a facility in Montgomery, Texas. The property features 64 units and a total of 19,998 square feet. The facility is located 43 miles from downtown Houston. Lakewood was represented by Versal,...
Diamond Point Development LLC partnered with Castle Hill Investors LLC to open CubeSmart Self Storage at 95 Mill Plain Road, Danbury, CT. The site has 105,000 square feet (including 75,100 rentable square feet and 737 units), located across the street from Caraluzzi’s...
LSC Development LLC completed a seven-story, 112,188-NRSF self-storage facility at 46 Greenwich St. in Hempstead, NY on Long Island. The ground-up construction offers 1,382 fully climate-controlled units and two loading bays. It also has large drive-up contractor...
U-Haul purchased two former Freedom Self Storage properties in Pueblo, CO, with one at 469 E. Spalding Ave. in Pueblo West and 827 Village Circle in Pueblo. The former now is called U-Haul Moving & Storage of Pueblo West and the latter is U-Haul Moving and Storage...
Dexter, MI may be getting its first self-storage facility inside city limits, comprised of 338 storage units plus three multi-tenant buildings. The city’s planning commission voted in favor of the project – called Superior Spaces - on March 4. Ryan Joss is owner and...
A proposal to convert a closed Regal Cinemas theater into a self-storage site and add a four-story apartment building, medical office and coffee shop will be heard on March 21 at the Branford (CT) Inland Wetlands & Watercourses Commission, which approved an...
Andover Properties purchased Storage King USA on Dec. 5. The latter is located at 13397 Camino Real in Niederwald, TX. It has 68,400 square feet of drive-up storage and covered RV spaces. Andover plans to expand the facility by 100,000 square feet. Source: Community...
Hearthfire Holdings has big plans for the self-storage property it recently purchased at 2817 N. Peoria Ave. in Tulsa, OK. The company, which owns 17 properties (plus two more under contract) in seven states, plans to nearly quadruple the Tulsa site’s size from the...
U-Haul plans to open a second location on the northwest side of Kokomo, IN in a $10 million deal. The new facility will have around 700 units spread across about 40,000 square feet. The building’s total square footage is about 75,000; a retail store, rest rooms, a...
Construction spending in the self-storage sector topped $6.9 billion in 2023 as developers moved through a development pipeline that expanded in the wake of the COVID-19 pandemic. Last year’s spending marked a 24% increase over 2022, which saw $5.6 billion spent...
Chicago-based investment firm Heitman obtained a 1,378-unit self-storage facility in Brooklyn for $46.9 million, more than double the price paid for the same property in 2017. The deal closed days prior to a planned auction of the property, to which Heitman was...
Hines announced it plans to deliver two new self-storage facilities this year in Texas. They are Custer Self-Storage in Frisco and Jupiter Self-Storage in Garland. The multilevel, climate-controlled facilities will expand Hines’ portfolio to 16 locations in the...
A Winston-Salem, NC group has purchased the former Inmar headquarters building off Coliseum Drive for $3.06 million, easing the way for the vacant office building to become a self-storage center with residential housing nearby. The property is at 2650 Pilgrim Court...
W.P. Carey is selling 78-facilities to U-Haul affiliates for a total of $465 million. The publicly traded REIT had previously leased the sites to U-Haul for the last 20 years. The portfolio spanned 69 cities in 24 states. The proceeds will boost W.P. Carey's...
The future of self-storage just got a little greener. Raleigh-based SLI Capital and Charlotte-based Madison Capital have joined forces to acquire a controlling interest in GreenSpace Self-Storage. The company, renowned for its pioneering approach to constructing...
It’s been an impressive run for self-storage-centric 10 Federal. The Raleigh, NC-based company has raised a total of $16 million in Q4, its fourth such offering. Overall the company, which has properties in 10 states, has garnered more than $96 million since its first...
StorSafe Self-Storage’s recent entry into third-party management is only part of the Skokie, Illinois-based firm’s aggressive plans for long-term expansion across the nation. Last month, StorSafe, owner of 29 facilities across the Midwest and Southeast, announced the...
DXD Capital, a self-storage private-equity investor, opened a new, three-story climate-controlled facility at 895 Thornton Road in the Atlanta suburb of Lithia Springs, GA. It has 703 storage units totaling 71,335 NRSF. Public...
Hearthfire entered the Oklahoma market by purchasing 2817 N. Peoria Ave. in Tulsa. The site has 22,900 square feet spread across 11 acres that is planned to expand to 86,000+ square feet and 800+ units, with both climate- and nonclimate-controlled units. Hearthfire...
1784 Holdings LLC secured a $53 million construction loan to develop a self-storage facility in Bethesda, MD. The Ardent Cos. provided the financing, which retires previous debt. The completed facility will offer 1,707 climate-controlled self-storage units across...
In a strategic move, Go Store It has appointed Evan Stephens as Chief Investment Officer (CIO). Announced on January 18, 2024, Stephens’ promotion is set to drive the company’s investment approach, focusing on disciplined deal evaluation and maximizing returns. A...
HPI Real Estate announced the opening of two new self-storage facilities in Florida. One store is at 830 S. River Road in Englewood (below) and has 77,500 rentable square feet across 82 units. The other store is at 5404 S. Williamson Blvd. in Port Orange and has...
DXD Capital, a New Mexico self-storage private equity firm, purchased the Hill & Homes Self-Storage portfolio in Colorado's western slope. The portfolio has 135,050 square feet across seven buildings, which house 922 units. Thomas Parsons, first vice president of...
Storage Units Capital, a self-storage real estate investment firm, announced the opening of a new property at 9000 W. Colonial Drive in the Orlando, FL, suburb of Ocoee. It sits on 3 acres, and it has 79,605 usable square feet and 766 units. There are three levels of...
The Inland Real Estate Group of Companies is buying a majority interest in U.S. self-storage operator Devon Self Storage Holdings. Devon, founded in 1988, manages 202 properties and about 109,000 units nationwide. It has owned, managed or developed more than 350...
Manhattan Mini Storage doesn’t just want a bigger bite of the Big Apple self-storage market. It’s now eyeing expansion into New Jersey too. Two years after its purchase by StorageMart, Manhattan Mini, a well-known self-storage operator on the island of Manhattan,...
Last year Extra Space Storage completed the biggest deal in self-storage history. This week, the company celebrated the accomplishment in front of a large audience. Led by CEO Joe Margolis, Extra Space officials rang the opening bell on January 9 at the New York Stock...
10 Federal, which operates a portfolio of remotely-managed self-storage facilities recently acquired two storage properties in Tennessee and Texas. The company also announced it surpassed $16 million in Q4 fundraising with its fourth self-storage offering. The company...
Diamond Point Development LLC, a Roswell, GA-based company, plans to build a 99,600-square-foot self-storage facility at 179 Turner St. in Auburn, ME. Construction costs are expected to top $5 million. The facility will provide 75,000-square-feet of net rentable space...
Blumenfeld Development Group of Syosset, NY, which is part of Long Island, paid $122 million for two self-storage properties in Flushing and Woodside, both in Queens. The company purchased the 159,000-square-foot 34-09 College Point Blvd. in western Flushing for $72...
Opponents spoke up Dec. 12 at the Henrico (VA) Board of Supervisors meeting regarding two proposed self-storage facilities. One proposal comes from the General Land Co. LLC to build a three-story self-service storage facility and retail strip at the southwest...
Trojan Storage, based in Redondo Beach, CA, has proposed a massive self-storage compound with nine apartments and two storage buildings. The company wants to build 227,000 square feet of self-storage, with a separate residential component, at 7528 Bellaire Ave. in...
Midcoast Properties Inc. announced the sale of Capstone Self Storage at 561 N. Pike East in Sumter, SC. An out-of-state buyer made the purchase. Midcoast’s Michael Morrison represented the seller. The facility sits on 2.1 acres and has 84 drive-up units spread across...
It’s not every day you see an oil-drilling company transform itself into a largely self-storage operation. But that’s exactly what California-based Ojai Oil, Inc. has effectively been doing over recent decades, having founded Golden State Storage in 1974 and grown its...
LSC Development LLC opened a new self-storage facility in Glenview, IL at 3701 W. Lake Ave. It’s on a 5.6-acre lot, south of Northshore Glenbrook Hospital and near Glenbrook South High School. The developer converted a pair of three-story, 1970s-style office buildings...
SecureSpace Self Storage purchased an existing self-storage property in Blue Bell, PA, which SecureSpace previously managed. SecureSpace Blue Bell is its name and it’s located in a Philadelphia suburb. The three-story facility at 1950 Skippack Pike offers 78,097...
Gelt Ventures announced the sale of South Pasadena Storage, a 677-unit self-storage facility in South Pasadena, CA for an undisclosed price to an institutional buyer. The six-building property includes 642 indoor storage units, 34 outdoor rental spaces, a live/work...
Real estate investment firms NitNeil Partners of Atlanta, GA and Seamless Capital in Austin, TX are partnering on another joint venture. The new project will be inside an Opportunity Zone at 853 Airport Blvd., north of the Cesar Chavez area in East Austin, TX. The...
Dallas, TX-based Rosewood Property Co. acquired three self-storage facilities in Vista, CA; Tempe, AZ and Las Vegas, NV. That brings the company’s total to 82 self-storage facilities nationwide. The Vista property, located at 1317 N. Melrose Drive, is a...
SecureSpace Self Storage opened a new self-storage facility in Manhattan, NY, to be called SecureSpace Manhattan. The newly built facility is at 424 E. 90th St. and has 88,630 square feet of 100% climate-controlled space. SecureSpace is based in Redondo Beach, CA....
Infused with an $11 million funding round last February, NYC-based self-storage startup Stuf has tripled the size of its real estate footprint over the last year. In a conversation with the SpareFoot Storage Beat, co-founder and CEO Katharine Lau said the company...
The Reybold Group, a full-service construction company based in Newark, DE has found an innovative approach to generating additional revenue at its marquee self-storage facility—providing soundproofed recording space to podcasters and bands. The company, primarily a...
Real estate developer Hunt Midwest is expanding its footprint in the Kansas City metro with a new 867-unit StorTropolis self-storage facility in Olathe, KS. The project, currently under construction at 601 N Millridge Street, will be the chain's sixth and largest...
Andover Properties, operator of the Storage King USA chain of self-storage facilities, has purchased Barefoot Mini Storage in Micco, FL for $6.85 million. CBRE’s Self Storage Advisory Group represented the seller, a private investor. Nick Waller of CBRE said that they...
Recreational Storage Group is riding the Boat-RV storage wave that began a few years ago during the height of the COVID-19 pandemic. RSG, a New Jersey-based company led by industry veterans Erik Johnson and George Hristodoulou, recently announced that it has broken...
A restaurant building that’s more than 70 years old and still operating might be demolished and replaced by a self-storage facility in Levittown, PA. SAFStor Old Lincoln LLC submitted plans to change Michael’s Restaurant and Lounge at 935 Old Lincoln Highway in Falls...
Buchanan Street Partners LP, based in Newport Beach, CA, has entered the Northern California market by purchasing a self-storage facility at 12200 Rock Creek Road in Auburn, CA. The selling price was $20.75 million. It has 116,500 square feet spread across 825 units...
There is a new boss at one of the country’s top self-storage construction companies. Jim Reinhart is the new CEO at MakoRabco, a portfolio company of private equity firm New State Capital Partners. John Cross, who has served as CEO since 2021, is retiring and will...
There is a new boss at one of the country’s top self-storage construction companies. Jim Reinhart is the new CEO at MakoRabco, a portfolio company of private equity firm New State Capital Partners. John Cross, who has served as CEO since 2021, is retiring and will...
Strategic Storage Growth Trusts III Inc. purchased a storage facility in Tamarac, FL for $19.5 million from Blue Vista Capital Management and SouthWestern Property. The site has approximately 69,000 NRSF that include a five-story building with about 760...
Barone Management recently obtained $13.8 million in construction financing for the ground-up development of a storage facility in Syosset in New York’s Long Island. Completion is planned for November 2024. There will be two structures with a total of 1,025...
Jeff Gorden of The Gorden Cos. represented the seller and arranged the $6.5 million sale of GuardAll Self Storage in Kingman, AZ. The property has 1.3 acres and 409 units. The facility was 96% occupied and had an annualized revenue of $509,800. Gorden is the Arizona...
StorSafe Self Storage hopes to benefit the environment as it builds a 10,665-square-foot expansion to its facility in Michigan City, IN at 2600 S. Franklin St. The expansion will add 82 new climate-controlled storage units. The addition includes an onsite...
Prime Group Holdings LLC, based in Saratoga Springs, NY, announced it purchased four self-storage properties that total approximately 362,000 rentable square feet spread across 3,540 units in Florida, New York and North Carolina. Four transactions were involved in the...
Go Store It opened its newest facility at 1683 O’Neal Lane in Baton Rouge, LA. It has 86,680 square feet of space and more than 550 units. The company, based in Charlotte, NC, is an affiliate of Madison Capital Group and has more than 6.5 million square feet of...
City Line Capital has been on a growth streak this year, acquiring 18 self-storage facilities through the first half of the year. That brings the Bala Cynwyd, PA-based firm's portfolio at mid-year to a total of 253 properties. The portfolio spans 15 million square...
A former call center in Menasha, WI will be converted into a large self-storage facility with the addition of up to 600 units – which may be available by May 2024 - as well as more than 100,000 square feet of RV and boat storage parking. There also will be several...
U-Haul purchased a Simply Stor-It that’s located in the former Palace Mall at 1801 N. Main St. in Mitchell, SD. It’s the first U-Haul-operated facility in Mitchell. It has 329 units and 48 indoor parking spots, and a total of 8,800 square feet of climate-controlled...
Public Storage completed its previously announced purchase of Simply Self Storage from the Blackstone Real Estate Income Trust Inc. for $2.2 billion. There are 127 fully owned properties in the portfolio and 9 million NRSF across 18 states – in markets with population...
Safeguard Self Storage acquired a property in the Howard Beach/JFK area, at 130-02 S. Conduit Ave. in Queens, NY. Developer Triangle Equities created an interesting product: A two-unit condominium, one of which has a self-storage feature (below). Joseph Berretta of...
A chain of self-storage facilities in the Carolinas is getting a high-tech upgrade. Go Store It has forged a strategic partnership with StoreEase to convert 11 storage facilities to virtually-managed locations. The storage operator will employ StoreEase’s patented...
Warehouse Anywhere is now a standalone business following a deal between a group of former Life Storage employees and Extra Space Storage (NYSE: EXR). Extra Space sold the Warehouse Anywhere division of Life Storage to the new operators after acquiring the subsidiary...
Tampa, FL-based SkyView Advisors closed on Long Beach Storage Center at 1700 Santa Fe Ave. in Long Beach, CA. The facility has 22,625 NRSF, with 384 units spread across two stories. Overall, it has 1.03 acres. The site is near full capacity. Andrew Sacks, senior...
Garden Spot Communities is launching ELANCO Self Storage on Ranck Road in New Holland, PA. The facility will take up 10 acres of a 12-acre tract of land zoned as light industrial and is owned by Garden Spot Village, a retirement community that operates as a 501...
Doug Steverson has spent the past five years handling self-storage acquisitions for Boardwalk Development Group, the Suwanee, GA.-based private equity company founded and headed by industry veteran Rajen Sheth. But the market is the market – and the market, at least...
Stuf Storage has partnered with Jamestown LP to open a self-storage facility at 1170 Howell Mill Road in Atlanta's West Midtown area. It has 100 units. The new location converts 7,000 square feet of former retail storage into tech-enabled self-storage. The storage...
Spartan Investment Group of Golden, CO closed on three self-storage deals – in Belleview, FL; Pea Ridge, AR and Kingsland, GA - in the company’s growth fund. The Belleview location is a 4.63-acre lot, and Spartan plans to start ground-up development of a 550-unit...
4 Rivers Property Group (Charlotte, NC), Declaration Partners (Bethesda, MD) and Big Cypress Capital (Naples, FL) formed a joint venture to develop self-storage facilities in Southeastern growth markets. The group also announced it held its first land closing in...
StorSafe announced its acquisition of “The Extra Closet” located at 124 Warfield Ave. in Venice, FL. The deal brings the company to a total of 25 locations and over 1.3 million square feet of storage space. StorSafe continues to focus on single story value-add...
Golden, CO-based Spartan Investment Group has been on a roll lately, and with its latest hire the firm is positioned to keep the streak going. Last week the company sold a two property portfolio consisting of two FreeUp Storage facilities in Denver and Aspen Park,...
Blue Vista Capital Management announced it purchased 11 self-storage, industrial/flex and build-to-rent properties in six states between March and June this year. They include include five self-storage assets in Florida and Arizona, five industrial/flex properties in...
Frontera Real Estate Investments obtained a $10 million construction loan for the ground-up development of a new 733-unit, climate-controlled self-storage facility in Lancaster, CA, which is in the Los Angeles metro area. BWE, a national commercial and multifamily...
A 6,000-unit self-storage facility has been completed at 155 West 29th St. in Manhattan’s Chelsea neighborhood. Public Storage will run the facility, which is 18 stories high and has 180,000 NRSF. The project features units as small as 2x2 and as big as 8x12. The...
The Storage Acquisition Group facilitated the $20.5 million sale of River Rock Storage located at 4220 Forbes Road, Gastonia, NC. Jonathan Spencer, Scott Heckert and Jonathan Spencer of Storage Acquisition Group helped seal the deal. River Rock Storage has 124,374...
The city of Providence, RI has a message for self-storage developers: stay away. The Providence City Council last month approved an ordinance that effectively bans construction of new self-storage facilities throughout Rhode Island’s capital city, with supporters...
StorSafe, a private self-storage investment firm, has entered North Carolina with the acquisition of Bonus Room Storage in Candler, a suburb of Asheville. This venture into the North Carolina market signifies StorSafe's strategic response to the region's burgeoning...
In New Castle, PA, a four-story facility has been proposed at the site of the former Lockley Manufacturing building. The Planning Commission listened to a presentation for the proposed 119,050-square-foot facility to go in at 306-310 Grove St. Asset Realty &...
Andover Properties purchased Jim’s Stowaway, a 105,000-square-foot self-storage facility at 3527 Radio Road in Naples, FL from a private owner. The property, which has 13 buildings across 8.1 acres, will operate as Storage King USA. The facility has 600 units,...
A new self-storage facility is coming to the site of the former Babies R Us building northwest of Academy Boulevard and Platte Avenue in Colorado Springs, CO. The building will be remodeled into a climate-controlled, interior self-storage facility. Also, new exterior...
An unnamed private investor purchased the Gadsden Mini Storage Portfolio, a 95,800-square-foot package in Quincy, FL, with a total of 701 units, for $10.135 million (below). The portfolio, located near Tallahassee, includes four properties. Hunter Robey and Chris...
For some people, self-storage is a place to stash their stuff. For others, it’s a retirement plan. Looking for a low-maintenance and highly rewarding real estate investment, many with money to invest are turning to self-storage as a reliable cash-generating business...
SecureSpace Self Storage company in Walnut Creek, CA bought an old industrial and commercial building of 89,500 square feet at 2700 Mitchell Drive in the Shadelands district for about $14.3 million. It will be demolished and replaced by a new microbrewery and a...
The LeClaire-Schlosser Group of Marcus & Millichap announced the sale of AA Storage in Houston, TX. The facility has 49,539 NRSF. Dave Knobler and Charles LeClaire had the listing to market the property for the seller and also found the buyer. Marcus &...
Public Storage will buy the 127-facility Simply Self Storage portfolio from Blackstone Real Estate Income Trust for $2.2 billion. The REIT, an arm of New York-based private equity behemoth Blackstone, is selling the portfolio as it navigates a backlog of redemption...
Salt Lake City-based Extra Space Storage has completed the acquisition of its competitor, Life Storage in an all-stock transaction valued at $11.48 billion, based on the stock price at market close on Tuesday. The publicly traded REIT now controls more than 3,500...
Skinner Bros. Realty and The Silverfield Group developed an 82,000-square-foot CubeSmart facility in Wildlight, a master-planned development near Yulee in Nassau County in Florida. CubeSmart, the first self-storage facility in Wildlight, has 550 climate-controlled...
A global investment firm based in Canada is investing $400 million into the U.S. self-storage sector. Montréal-based Ivanhoé Cambridge has partnered with Safely Store Self Storage to buy and develop a portfolio of facilities throughout the U.S. Safely Store is a...
Safeguard Self Storage has purchased a 1,252-unit, 132,000-square-foot facility at 324 Nepperhan Ave. in Yonkers, NY. Safeguard’s presence in Yonkers also includes a soon-to-open location at 390 Riverdale Ave. and another one at 188 S. Broadway. The Nepperhan location...
CBRE’s Self-Storage Advisory Group brokered the $23.1 million sale of a newly built facility, Windermere Storage, in Orlando, FL. The 89,145 square foot facility is located at 8550 Old Winter Garden Road. CBRE represented the seller, locally based Schrimsher...
The Township Board of Adjustment in Brick Township, NJ rejected a plan to build a self-storage facility between two rows of houses at 345 Drum Point Road. It was the third hearing for the application from Del Corp Holdings LLC. The developer seeks to build nine...
Contributed by Hunter Reynolds and Austin McLeod of Matthews Real Estate Investment Services. Consumers are seeking convenience over everything else. This evolving consumer preference has caused a dramatic shift in customer-driven operations nationwide. In particular,...
A self-storage brokerage team has parted ways with a national real estate firm to launch a new company. After three years as part of Berkshire Hathaway Commercial, Cameron Vale said the time felt right for the group to go out on their own. Vale is the founder and...
Red Oak Capital Holdings LLC of Grand Rapids, MI provided $5.5 million in capital for the purchase and conversion of a vacant Kmart store at 360 W. National Road in Englewood, OH. The bridge loan will enable the borrower, United Storage 360 LLC, to buy the property...
Limited liability companies led by Arkansas-based businessmen Patrick Byrd and Alex Baumeister purchased an 11-property portfolio of self-storage facilities in Green Bay, WI for $34.2 million. The Lok Safe Storage portfolio spans a total of 475,141 square feet. The...
