The Roll Up: Entitled self-storage development site in SoCal sold

Bruce Goldberg
Published March 27, 2023

Versal announced the sale of an entitled and permitted storage development opportunity on 2.29 acres in Santa Clarita, CA to a private investor.

Located in Los Angeles County at the corner of Golden Valley Road and Valley Center Drive, the completed facility would have 110,483 NRSF, spread across 1,122 units on three floors. Austin-based HPI Self Storage was the seller.

The company said the trade area hasn’t had new product in 20 years and that the county has little climate-controlled space. James Goodwin Architecture designed the project. There are more than 1,000 apartment units under construction within one mile of the site.

Source: Versal

MV Investment is developing a three-story, climate-controlled self-storage facility at 6610 Cypress Garden Blvd. in Winter Haven, FL. It will have 792 units spread across 100,300 square feet. CubeSmart will manage the property. The company is also completing construction of a new facility in Fayetteville, North Carolina, on April 1. Located at 5234 Raeford Road, the 105,000 gross square-foot complex offers 808 units. It will also be operated by CubeSmart.

5234 Raeford Rd, Fayetteville, NC.

True Storage Inc. of Manchester, NH has proposed the redevelopment of a vacant part of a retail plaza at 380-510 John Fitch Highway in Fitchburg into self-storage units. True Storage seeks to convert the space, formerly home to Comfort Home Scratch & Dent, Karl’s Kloseouts Furniture and Mattresses and AJWright. True Storage seeks 80,000 square feet for its climate-controlled units, office space and a circulation area. The plan includes three storefronts for future retail tenants at the front of the facility. Affiliates of Brady Sullivan Properties in Manchester bought the plaza for $7 million last September. Source: Worcester Business Journal

A three-story, 102,008-square-foot self-storage building with 725 units has been proposed for the Golf Road home of a former animal supply store and a shelter care home at 397 and 401 W. Golf Road in Arlington Heights, IL. Animal Feed and Needs closed in 2021 after 57 years in business. Holladay Properties is the developer. Store Space will manage the site. Source: Daily Herald

InSite Property Group, based in Torrance, CA, plans to convert a Glendale, CA industrial site into a five-story, 112,200-square-foot building at 127 Concord St. It would replace Chromatic, a printing company. Plans also include two levels for a subterranean parking garage. InSite bought the property for $6.6 million in January; it was sold along with an adjacent lot at 111 Concord St. Source: The Real Deal

Completed

Value Store It Self Storage opened two facilities in Clearwater, FL. One is at 26489 US Highway 19 and the other is at 2611 Seville Blvd. The company held opening ceremonies on March 21 and 22. Source: PR Web 

Paradigm Development Partners opened a new self-storage facility at 3764 Jacobs Crossing in the Clay Town Center mixed-use site in Middleburg, FL. It has 91,458 square feet spread across 600-plus units in a three-story building and operates under the Life Storage brand. Kimley-Horn was the planning and design consultant. J.M. Williams Contractors was the general contractor. Arch Trulock was the architect. SignAccess handled sign fabrication and installation. Source: Multi-Housing News

North Palisade Partners opened its first self-storage facility, named Palisade Nadeau Storage, at 2200 Nadeau St. in Huntington Park, CA, just south of Los Angeles. The three-story, 133,000-square-foot facility is on 2 aces and has more than 1,500 units. Extra Space Storage will operate the site. Source: RE Business Online

Legislative

The Town Council in Highland, IN rejected a new variance for a three-story indoor facility sought for the vacant Coach USA site, 8141 Indianapolis Blvd. The Board of Zoning Appeals said the B-3 general business zoning did not allow a storage unit business. Source: NW Times

The City Council in Lake Jackson, TX, rejected a rezoning request after hearing complaints that approval would allow a self-storage facility to move into an abandoned H-E-B grocery store space. The owner of the Brazosport Village Shopping Center, 410 Plantation Drive, asked the council to consider changing the center from a B-1 (neighborhood business) to a C-1 (commercial business). Source: The Facts

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.

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