ICM Asset Management and Meckelborg Financial Group Ltd. have launched the ICM Bluebird Canadian Self Storage Fund. Bluebird Self Storage and StoreWest will be the asset managers. The fund will focus on consolidating and developing mainly Class A assets in Canada’s major metropolitan areas. The fund’s goal is to aggregate Canada’s first self-storage portfolio comprised of at least 75% Class A facilities.
The Toronto-based Bluebird said it has seven new storage developments breaking ground this year via a partnership with StoreWest, with locations in in Halifax, Quebec City, Montreal, Mississauga and Calgary. More are planned in 2024. Bluebird’s portfolio of stores under management includes 30 locations, 2.5 million gross square feet and 20,000 units. Future developments and acquisitions total about 20 locations, 2 million gross square feet and 14,000 units. In 2018, StoreWest built its first facility on 17 acres in Chestermere, just outside of Calgary. Source: Real Estate News Exchange
Planned
Moove In Self Storage plans to buy a 4.16-acre lot at 3025 Carlisle Road in Dover, PA and convert the existing 39,876-square-foot building there – formerly a discount grocery store – into self-storage use. Its new name will be Moove In-Shiloh. Moove In also will build a 58,000-square-foot, two-story building at the front of the current structure. The new facility will have between 600 and 650 storage units. Construction will begin sometime this year, with completion scheduled for Q3 2004. Storage Construction is the general contractor. Source: WHTM
Officials in West Gardiner, ME, may extend a temporary ban that governs self-storage facilities as well as solar energy systems, medical cannabis retail shops and medical cannabis cultivation facilities, for another six months, enabling officials to study newer versions of the proposals. The Board of Selectmen is expected to hold a public hearing on extending the six-month ban put in place in December. The selectmen are expected to vote to extend the moratorium for six more months. Source: CentralMaine.com
In Georgia, the Atlanta Department of City Planning approved a special administrative permit for a self-storage project sought by the Atlanta Botanical Gardens in Virginia-Highland. The project is at Monroe Drive and Cooledge Avenue and it was granted three variations sought by ABG. But the situation is unclear, as ABG and Public Storage, the company that would operate the facility, have not responded to comment requests. ABG has a longstanding plan to grow by 7 acres along Piedmont Avenue and Westminster Drive. Source: Saporta Report
