The Roll Up: Developer secures $13.8 million for Long Island storage facility

Bruce Goldberg
Published October 21, 2023

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 climate-controlled and 86 exterior drive-up units across 103,440 NRSF. Talovest Capital Inc., arranged the financing on behalf of Barone. The team that handled this transaction included John Chase, Kim Bishop, Ivan Viramontes and Lauren Maehler.

Source: Talonvest

Planned

Daniel Plant plans to build a 38,500-square-foot self-storage facility on Old State Road 3 just yards from the DeKalb County line in Huntertown, IN. He gave plans to the Allen County Plan Commission to put up six buildings on 3.5 acres at 19001 Old State Road 3, at the corner of Old Lima Road, with between 200 and 250 units. Plant’s application is expected to be heard at the Allen County Plan Commission public hearing on Nov. 9. Source: WANE.com

A self-storage business is coming to Waxahachie, TX after its planning and zoning commission approved a specific-use permit to allow a facility within commercial zoning by a 6-1 vote. It allows for an indoor, climate-controlled facility operating in about 13,000 square feet of 308 N. College St, formerly the CA Wilson building (below). There would be 115 units. The redevelopment also includes three retail spaces, about 18,000 square feet, for Racquet and Jog, Shelby Symmetry and Texas Cryoworks. Source: Waxahachie Sun

East Lampeter Township supervisors voted 4-1 in favor of a self-storage facility at East Towne Centre in Lancaster, PA. It’s off Lincoln Highway East in a C3 zoning area. Source: Lancaster Online

In Michigan, the Bronson City Council approved a rezoning request on the east side of town. Applicant Tyler Stritzinger wants to put up a self-storage facility and seeks to rezone almost 7 acres at 150 Wayne St. from the current R-3 Multi-Family District to B-3 Community Commercial District. The plan is to build the facility in one phase, which will offer an estimated 16,000 square feet of commercial storage space across two all-steel buildings. The site has Wayne Street to the west, Dollar General Store and McDonalds to the north, multi- and single-family residential to the south and west, and vacant land to the east. Source: WTVB

An Aldi grocery store and Citadel Self Storage at 200 Juneau Drive are planned amenities for the site of the former East Government Center off Shelbyville Road in Middletown, KY. A nearly 22,000-square-foot grocery store would go on the east side of the site. A mixed-use building with 4,400 square feet of first-floor retail and office space, with two more floors of climate-controlled storage units, would be put on the western side of the property, where the old government building stands. Plans call for its demolition to make way for the new construction. The development plans still need city approval. Source: Courier-Journal

Boardwalk Development Group, which is based in Suwanee, GA and is the manager for Boardwalk Storage-Westridge, closed on a 6.14-acre parcel at the intersection of Westridge Parkway and Westridge Industrial Boulevard. A climate-controlled self-storage facility is planned for that site, with 86,550 square feet spread across 527 units. Median household incomes in that area average more than $82,000 in the one, three and five-mile radii.

Completed

SecureSpace Self Storage opened a new facility called SecureSpace Downtown Los Angeles, CA, which is on Essex Street near LA’s Fashion District. It’s one of the city’s busiest areas, with more than 275,000 vehicles per day traveling past the skyscrapers between Santa Monica and Central Los Angeles. The facility has four stories, climate-controlled units and 99,009 square feet. SecureSpace is based in Redondo Beach, CA. Source: SecureSpace

SecureSpace Self Storage also opened a climate-controlled, 120,260-square-foot facility at 2501 N. 15th St. in the Glenwood area of Philadelphia, PA. The number of units was not disclosed. The company also has two more nearby developments and three operating stores in the greater Philadelphia area. Source: RE Business Online

StorIt USA Self Storage opened three facilities in Levelland, TX, with one at 908 12th St. (74 units), another at 111 10th St. (83) and a third on Highway 114 (60). Levelland is about 30 miles west of Lubbock. Source: Digital Journal

Legislative

In Southwest Florida, a vote regarding a three-story CubeSmart self-storage facility at the intersection of 13th Avenue Southwest and Collier Boulevard near Golden Gate City was postponed. The 5.5-acre is zoned for estates and is adjacent to two Florida Power & Light substations. Applicant Shamrock Builders Inc. say they’re unsuitable for residential properties and hope to amend the county’s growth management plan to self-storage only.  Source: Gulfshore Business

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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