EagleBridge Capital of Boston, MA arranged a construction/permanent mortgage financing of $22 million to pay for a new self-storage facility under construction in Redding, CT. Brian Walsh, EagleBridge senior director, arranged the transaction. The name of the developer was not released. The facility will have 675 climate-controlled units and the property is on Ethan Allen Highway.
Source: Boston Real Estate News
Planned
A 600-plus-unit indoor self-storage business has been proposed for the site of a former Kmart location at Five Points Plaza, 224 E. Dayton Yellow Springs Road in Fairborn, OH. Plans include an 84,180-square-foot Storage Sense on about 9.5 acres. Source: List Self Storage
Madison Capital Group garnered a $13.7 million construction loan to develop an 841-unit (plus four non-climate-controlled units) self-storage facility at 5932 Minnesota Ave. in Paramount, CA. Byline Bank’s Commercial Real Estate Group provided the financing. The five-story, 104,630-square-foot facility will operate under the Go Store It brand. Talonvest Capital’s Eric Snyder, Kim Bishop and Ivan Viramentes brokered the deal. The Byline Bank team that handled the transaction included Joanne Campanile, Sam Duros and Ana Garcia. Source: connectcre
A new U-Haul retail store is coming to an undeveloped site on West State Route 163 between Dianna’s Deli & Restaurant and the Sleepy Hollows Family Campground in Port Clinton, OH. U-Haul Moving & Storage of Port Clinton is scheduled to be finished in 2025. Plans call for a three-story self-storage building, including at least 650 indoor, ADA-accessible units with climate-control options. U-Haul also plans to build a separate warehouse for portable moving containers. The new facility will offer trailer and moving van rentals, boxes and moving supplies, towing equipment and more. The store will hire at least 12 employees. Source: PR Newswire
In Florida, Seminole County commissioners unanimously approved a developer’s plan to build a three-story storage facility that’s in the heart of Winter Springs commercial and residential districts. County staff and commissioners noted that the vacant land of nearly 5 acres on Tuskawilla Road had been zoned for industrial uses, and they allow for a self-storage site. The proposed storage building would have 116,000 square feet. The property has not been used since 2007, when s meat-processing facility was demolished. Source: Orlando Sentinel
Under construction
An All Aboard Storage Center is being built in Port Orange, FL, west of Interstate 95 in response to the growing population of Volusia County. Source: Daytona Beach News-Journal
A new Jackson Self Storage location is coming to 1700 S. Cooper St. in Jackson, MI. Owner Doug Dysert bought the 7-acre property from Daugherty Tree Service for $165,000 in August 2021. One building, with six units, will be available to rent in about two weeks. If the building is well-received, he’ll add two more buildings next year. The site can hold nine buildings. Also, about 135 spaces will be held for pontoons, boats, campers and trailers. This is the company’s third location, including one next door at 1750 St. Cooper St. and 2565 W. Michigan Ave. Source: MLive
Completed
LSC Development LLC finished converting a former plumbing supply building at 4701 N. Ravenswood Ave. in Chicago, IL into a self-storage facility. The facility is in the Ravenswood neighborhood on Ravenswood Avenue, south of Lawrence Avenue and across from the newly renovated Ravenswood Metro Station. SGW Architects designed the project. Cobalt Commercial Construction was the contractor and Centier Bank provided a construction loan. Extra Space Storage will manage the facility. LSC is a real estate operating company based in Barrington, IL focused on the buying, development and ownership of commercial and self-storage properties. It has acquired, developed and operated 84 self-storage properties totaling close to 6.5 million square feet. Source: LSC Development LLC
Secure Space Self Storage opened SecureSpace Elmsford at 33 W. Main St. in Elmsford, in New York’s Westchester County. It has six stories of climate-controlled units. The store has Tarrytown to the west and White Plains to the east. More than 135,000 vehicles pass by each day. SecureSpace is based in Torrance, CA. Source: SecureSpace
On June 6 in Milford, MA, a public hearing will be held about a proposed three-story self-storage facility on the discontinued Old Cedar Street as well as about the application from a three-lot subdivision. Source: Milford Daily News
