A joint venture between Boston-based The Davis Companies and Valhalla, NY-based Highland Development Ventures purchased a television production studio in Stamford, CT for $20 million—the filming location for The People’s Court—and plan to redevelop a majority of the building into self-storage space.
Most of the 152,000-square-foot Connecticut Film Center at 300 Stillwater Avenue (pictured at top) is currently vacant, according the Connecticut Post. Production of the famed television court show will continue alongside the repurposed building. Developers said they plan to add a few thousand square feet of space to the existing building and add a center-drive aisle to provide drive-up access inside.
Developers Mark Tarver, Bobby Kirby and Jewell Hale are moving ahead with the redevelopment of the Keystop Oil property at 1232 Third Avenue North in Nashville, TN. Construction is expected to begin next spring on the redevelopment, which will convert the property into a 100,000 square foot storage facility, The Tennessean reports. The investment partnership closed on the site this month for $2 million. The property was rezoned last month to make way for the project.
Metro Self Storage purchased a 4-acre industrial site at 765 Route 17 in Carlstadt, NJ for $5.2 million, according to NorthJersey.com. The site was previously occupied by a company that manufactured generators. The sale was brokered by David Thurston of Marcus & Millichap.
Chicago-based Warden Capital purchased a 4.4 acre property at 2508 Dickerson Pike in Nashville, TN where it plans to build a 79,000-square-foot self-storage facility. The project will be the firm’s second self-storage project; the first is a converted warehouse in Louisville, KY that opened this month under management by Extra Space Storage. The new facility will offer 750 units and is expected to open late next year or in early 2018, according to The Tennessean.
Developer Al Mitchell is planning to build a self-storage facility on the site of a former car dealership in Belmont, NH. Mitchell is seeking approval to replace the former Lakes Chrysler Jeep store on NH Route 106 with a storage facility providing up to 60,000-square-feet of storage space, the Laconia Daily Sun reports. Mitchell previously developed Belmont Self-Storage, located on the same road a mile south.
Storage West is looking to build a six-building storage facility on a 4.9 acre site in Surprise, AZ. The site is located west of Bell Road between Loop 303 and Sarival Avenue. Approval of the project is pending action by the local city council, according to Your West Valley.
The Prestige Organization is building an 85,000-square-foot self-storage facility in Beaumont, TX on Delaware Street near Dowlen Road. The company is investing $6 million to build the facility, according to the Beaumont Enterprise. Completion of the project is anticipated next spring.
Guardian Storage is building a new 119,340-square-foot self-storage facility at 401 Coraopolis Road in Robinson Township, PA, near Pittsburgh. The facility will replace the former A-1 Self Storage facility that the company previously acquired. Guardian demolished the original 40-year-old facility in September. The new facility is expected to open in June, according to Inside Self Storage. The company, which has 12 operating facilities in Pennsylvania and Colorado, has another facility under development in Hampton, PA and is expanding its facility in Monroeville, PA.
Casey Development LTD opened a newly developed self-storage facility at 9106 Ingram Road in San Antonio, TX under the name The Keep Storage. The 106,000-square-foot facility offers 671 units and 10 mini-offices. While the project is the firm’s first foray into storage, it has several more sites under development in the following San Antonio submarkets: Stone Oak, Thousand Oaks/Henderson Pass and Vance Jackson outside Loop 410.
“We are very bullish on the self-storage market and look forward to aggressively expanding this segment of our business,” said Darren Casey, company president.