The Dymon Group of Companies, which plans to build 80 self-storage sites in the Greater Toronto Area within 10 years, said that one of the first to be built will be the world’s largest self-storage facility. It will have 3,000 storage lockers, according to Stephen Creighton, senior vice president. The facility also will include offices and third-party retailers, plus a Dymon store that sells moving supplies, a delivery service, mailboxes and security vaults.
Ottawa-based Dymon, also will add perks such as wine storage, an on-site sommelier and a lounge at the large facility. Dymon operates eight facilities and said it controls 80 percent of Ottawa’s self-storage market. Creighton said they have a combined 10,000 lockers that are 99 percent occupied. Source: The Canadian Press
Talonvest Capital Inc. of Irvine, CA, has completed funding of joint venture equity and construction financing for the $12 million development of Petaluma (CA) Self Storage. The new facility, sitting on 1.9 acres, will have 75,000 rentable square feet. Terrapin Investments will build one three-story building and another single-story one with 830 self-storage units.
U-Haul purchased a former Kmart department store that was a 95,810-square-foot building on Aug. 9, that it will repurpose and build 60,000 square feet of indoor self-storage at 222 N. Point Blvd. Baltimore, MD. Another 15,000 square feet will be dedicated to outdoor drive-up self-storage, as well as storage for RVs, boats and vehicles, all available in early 2018. Source: U-Haul.
Extra Space Storage will manage a planned 110,000-square-foot self-storage facility in the Canton neighborhood of Baltimore, MD. Real estate developer Poverni Sheikh Group LLC bought an industrial-flex building of 8,100 square feet and plans to redevelop it. The property, at 1413 S. Haven St. and located next to the Shops of Canton Crossing, was purchased for $1.93 million from South Haven LLC. Five multifamily developments have been planned or proposed within 1 mile of the site. Also, there is 300,000-plus square feet of self-storage space within one-half mile. Source: Commercial Property Executive
Bruno’s Self-Storage 2 LLC bought a 5.67-acre industrial lot at the West Bend Corporate Center in West Bend, WI, and plans to build a 134,000-square-foot self-storage facility. The West Bend Corporate Center is at the interchange of Highway 45 and West Paradise Drive. Source: Milwaukee Business Times
Equator Capital Management LLC of Brooklyn, NY, plans to build a self-storage facility in Staten Island, NY. The 136,000-square-foot building will go on two acres at 2601 Veterans Road W. Equator, a private-equity group, signed a 99-year, $70 million ground lease for the building. Source: The Real Deal
Dominion Self-Storage broke ground on its third Arizona facility in Buckeye at 20825 W. McDowell Road as part of the Verrado master-planned community. It has 1.25 acres and 60,000 gross square feet of storage space – but also was designed to fit the “small-town” feel of the area.
“Our challenge with this project was to make a self-storage facility not look like a self-storage facility,” designer Philip Gollon said in a news release. “We needed to make it fit aesthetically within the community while designing a building that is easily recognizable as self-storage.”
The design includes such touches as rusted-box metal ribbing, honed concrete masonry units and multistained applications.
Dominion’s other Arizona locations are in Chandler and Queen Creek, both managed by 180 Self-Storage LLC of Phoenix, which also will handle the Buckeye facility. Source: Inside Self Storage
Dillon Road Self Storage of Hilton Head Island, SC, made a 24,200-square-foot addition to its facility at 159 Dillon Road. That raises Dillon’s total leasable space to 71,830 square feet. The expansion includes 21,400 square feet of climate-controlled space and 2,650 square feet of traditional storage. The site also has eight units for vehicle storage, and another project is adding 38 covered vehicle-parking spaces. Bradshaw Group Ltd. manages the property.
NitNeil Partners of Atlanta, GA, has purchased a new self-storage facility in Oklahoma City, OK. The buy puts NitNeil Partners into eight states, including its first in the western half of the country. It also “signifies a shift in the company’s growth strategy towards acquisitions of quality facilities in high-growth neighborhoods within the top 50 MSAs,” NitNeil said in a news release.
The Oklahoma City site is located at 1401 NW 122nd St. It has 65,800 square feet of space on one story. Extra Space Storage will take over management of the facility.