1784 Holdings LLC secured a $53 million construction loan to develop a self-storage facility in Bethesda, MD. The Ardent Cos. provided the financing, which retires previous debt.
The completed facility will offer 1,707 climate-controlled self-storage units across 200,000 square feet of space. Construction began in July 2022 and is slated to end during the fourth quarter of 2025. Located at 5204 River Road, the project features nine stories, four of which will be located below ground.
Work on the project was previously delayed by opposition brought by community activists seeking to protect a 19th century Black burial ground. The site was paved over in the 1960s to create a parking lot.
Talonvest arranged the loan on behalf of 1784. The Talonvest Capital team included Kim Bishop, senior director relationship management; Jim Davies, principal; Ivan Viramontes, associate; Tom Sherlock, co-founder and Lauren Maehler, closing manager. Source: Talonvest Capital
Planned
Extra Space Storage has applied for preliminary and final major site plan approval with variance relief to the Old Bridge, NJ’s Zoning Board of Adjustment. The property already has a three-story, 102,315-square-foot self-storage facility. Extra Space wants to build another structure of 72,009 square feet at 1001 Route 9, adjacent to the existing building. The company also seeks approval to keep the existing one-story storage units that are located in the existing parking lot. Source: My Central Jersey
Citrus County commissioners are hesitant to allow the building of a three-story facility at the Shoppes at Black Diamond in Lecanto, FL on the northwest corner of county roads 491 and 486. Source: Citrus County Chronicle
Renard Management of Mahopac, NY and Yonkers 300 LLC of Red Bank, NJ, owned by Dino Tomassetti Jr. of Brooklyn, NY, has proposed a three-story self-storage facility for Route 518 in Montgomery, NJ by the Rocky Hill border. It will discuss the project at a zoning board meeting on Feb. 22. The facility would have two buildings. The first building would be a three-story, 123,259-square-foot structure and the second would be a one-story drive-up of 9,907 square feet. Source: The Montgomery News
A Town Hall meeting will take place at 6 p.m. Feb. 1 at Aspire Church to discuss the latest version of a mixed-use project in Jacksonville, FL. The new proposal calls for 40 percent self-storage, 40 percent multifamily and 20 percent retail space. Source: 104.5 WOKV
In California, the Ceres Planning Commission voted for a conditional-use permit to enable construction of a 92,248-square-foot self-storage facility north of Westward-Ho Mobile Home Park at 3418 Mitchell Road. It will include a 1,908-square-foot, two-story manager’s quarters plus a 616-square-foot, two-car garage. Carlo Development of Van Nuys, California, is proposing the development. The firm has been building apartment complexes and storage facilities for more than 40 years in California. Source: Ceres Courier
Under construction
Self-Storage at Solaire is being built near Monarch High School in Coconut Creek, FL. The four-story, 89,000-square-foot structure is going up at 5479 Wiles Road. Last year, the city approved another self-storage site in the southwest corner of Coconut Creek Parkway and Lyons Road in the same city. It’s called Sentry and will have 120,164 square feet. Once it’s completed, the city will have nine self-storage facilities.
Completed
Go Store It Self Storage is opening its first facility in California at 505 Monterey Pass Road in Monterey Park. It has 802 climate-controlled units spread across 70,000-plus square feet. The facility is between the 710, 10 and 60 freeways and located within the largest county by population in the United States. The facility is the only storage option for nearly a mile in every direction.
Cook Properties, based in Rochester, NY opened a new self-storage facility in Spencerport, also in New York. The family-owned real estate development and management firm opened Village Woods Storage, a 20,760-square-foot space with 177 climate-controlled units. It’s on the lower level of Village Woods, an office and retail plaza at 42 Nichols St. Source: RBJ
Absolute Storage Management was chosen to manage All Season Storage at 361 St Louis St., Mobile, AL. The facility, which opened Dec. 1, has 368 units totaling 41,670 rentable square feet. Source: PR.com
Flying Tiger Storage has opened at 4036 Bemiss Road, Valdosta, GA. It has 447 climate-controlled units totaling 49,580 rentable square feet. Nearby areas include Freedom Heights, Northwind Apartments and Grace Community. Absolute Storage Management will manage the facility. Source: PR.com
