Northbrook, IL-based Banner Storage Group recently bought a site in the Miami area for nearly $1.13 million to develop a self-storage facility.
The land, at 640-685 NW 133rd St. in North Miami, FL, covers just 57,997 square feet and is zoned for commercial self-storage.
Tampa, FL-based Marcus & Millichap broker Michael Mele told GlobeSt.com that the property was the first self-storage development site his office had sold since the downturn. Mele represented the seller, while Sean Delaney of the Oak Brook, IL, office of Marcus & Millichap represented the buyer.
“It shows that development is back in a big way in South Florida, particularly in Dade County,” Mele said.
Banner Storage Group is a subsidiary of Banner Apartments, which owns and manages more than 6,000 apartments. In April, the company bought its first self-storage development site, a historic warehouse in Lynn, MA.
All Aboard Properties
All Aboard Properties, a Port Orange, FL-based operator of 13 facilities in Northeast Florida, is converting a former call center into a self-storage facility.
The 600-unit facility is being built at Sunshine Park Mall, at 2400 S. Ridgewood Ave. in South Daytona (top photo), according to the Daytona Beach News-Journal. All Aboard already owns the mall property in addition to other real estate in the area.
Bee Safe Storage
Greensboro, NC-based The Carroll Companies is developing a self-storage facility in Raleigh, NC, next to an apartment community that it’s also building.
Called Bee Safe Storage, the indoor facility will provide 280 storage units, and most of them will be climate-controlled, according to the Triangle Business Journal. The company recently built its first storage facility in Greensboro; CubeSmart manages the facility.
Roy Carroll, principal at The Carroll Companies, told the Triangle Business Journal that he plans to build five facilities in the Triangle region over the next 18 months.
PhilMor Real Estate Investments
Newton, MA-based PhilMor Real Estate Investments LLC has secured approval to build a storage facility in Shrewsbury, MA.
The facility, with 63,000 net rentable square feet, will operate under the Casey Storage Solutions brand. PhilMor owns four facilities in the Boston area and total of nine in the Northeast.
PhilMor Real Estate bought the development site, at 757-789 Boston Turnpike, for $1.35 million from an individual investor. The lot covers 14 acres.
Value Store It
Miami-based storage operator Value Store It recently completed 107 units at an existing facility in its home market.
The operator started the zoning process for the expansion more than three years ago, according to public documents. The new units are outdoor drive-up units, built next to the existing indoor facility. Value Store It operates 12 facilities in Connecticut, Florida and New York.
A general contractor has developed a self-storage facility at 1770 75th St. NE in Rochester, MN.
Locally based Schoeppner Inc. opened a portion of the new facility in July. When completed, All Around Self Storage will feature 180 storage units. Schoeppner put the facility on land it owns next to its business office.
Schoeppner also is building a facility at 5253 Commercial Drive SW in Rochester, according to the Post Bulletin. That 200-unit facility is expected to open in September; it will include outdoor storage for boats and RVs.