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...
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Sold! Storage King USA buys Texas RV storage facility
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...
Q&A: Inside Hearthfire Holdings with Ethan Blum
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...
The Roll Up: U-Haul readies new 700-unit K-Mart conversion in Indiana
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...
Self-storage development hits pause after record year for spending
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...
Sold! Heitman takes over Brooklyn storage facility in $47 million deal
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...
The Roll Up: Hines preps two new self-storage facilities in Dallas-Fort Worth
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...
The Roll Up: Vacant office slated for self-storage conversion purchased
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...
Sold! U-Haul buying 78 locations from W.P. Carey for $465 million
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...
GreenSpace acquisition holds promise for a sustainable self-storage future
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...