Self-storage REIT CubeSmart is developing a five-story storage facility in Arlington, VA, a suburb of Washington, DC.
CubeSmart bought the nearly 4.7-acre property and two-story warehouse, at 2631 Shirlington Road (top photo), in November for $13.1 million, according to local property records. The site is occupied by Redman Fleet Services. In 2011, the site was eyed for a Walmart store, but that project fell through.
The building has been approved for demolition, and a building permit has been approved for the storage facility, according to ARLnow.com. Zoning approval is pending.
In its annual report, CubeSmart said it owns a 90 percent stake in the Shirlington Road project. The facility is expected to open in 2015.
Safeguard Self Storage
Atlanta-based Safeguard Self Storage plans to build a storage facility in the Bedford-Stuyvesant section of Brooklyn, a New York City borough.
The 42,625-square-foot facility, with 704 units, will open in 2015. The location will be the company’s 68th store nationwide and its 26th in New York state. Safeguard has two other locations under construction in New York City: one in the Bronx and another in Brooklyn.
Safeguard Self Storage said it closed on the Bedford-Stuyvesant property April 24. The purchase price was not disclosed.
“New York is a great market for Safeguard Self Storage, and the company continues to search for every possible opportunity to develop there,” CEO Allan Sweet said.
Strategic Storage Trust
Strategic Storage Trust, a non-traded public REIT that operates the SmartStop Storage brand, bought 2.5 acres in Toronto for a storage facility.
The purchase price was $3.8 million in Canadian currency ($3.4 million in U.S. currency). The facility will feature 78,000 square feet of rentable space in 870 units.
The site is at 505 and 515 Centennial Road.
“This new ground-up development underscores our long-term commitment to self-storage in the greater Toronto Area,” Chairman and CEO Michael Schwartz said.
The company has four locations in Ontario, including one facility in Toronto.
Northbrook, IL-based apartment developer Banner Apartments paid $1.6 million for a site in Chicago where it will build a storage facility.
The facility will be at 1809 W. Devon Ave. in Chicago’s Rogers Park neighborhood. The property was sold by Ohio-based FirstMerit Bank, which foreclosed on the site 2012, according to Crain’s Chicago Business.
1-800-Self-Storage.com bought nearly 2.8 acres in Plymouth, MI, for a 120,000-square-foot storage facility.The company paid $1.5 million for the land, at 42350 E. Ann Arbor Road; the seller was the Township of Plymouth.
The company operates one other facility, in Melvindale, MI.
Illinois-based Berwyn Self-Storage is converting a former 35,000-square-foot Harley-Davidson motorcycle dealership into a self-storage facility.
The company bought the building at 1301 Harlem Ave. in Berwyn, IL, in January for $1.75 million. The dealership moved in April 2012.
The building already has been gutted, and a construction permit was issued March 6. The facility is expected to be open this fall, according to MySuburbanLife.com
Storage One Self-Storage
A plan by Ohio storage operator Storage One Self-Storage to develop a facility in Violet Township, OH, came one step closer after township trustees unanimously approved a zoning request. The operator plans to build a 10-building, 97,000-square-foot facility on nearly 8 acres.
The developer still needs to secure additional approvals. Several neighborhood residents oppose the project. They complain that the facility would cause traffic, noise and light pollution and would lower property values, according to the Pickerington Time-Sun.
Storage One operates three other facilities in Ohio.