Jernigan Capital Inc. has closed a $9 million investment in Orlando, FL, for a 779-unit self-storage facility.

The Memphis, TN, company provides debt and equity capital to private developers, owners and operators of self-storage facilities.

Dean Road Self-Storage and Cassaforte LLC of Orlando are developing the project, which will have 77,000 square feet. Construction begins in January and is scheduled to finish in Q1 2019.

In July, Jernigan closed on an $8 million self-storage investment in Jacksonville, FL. Source: Memphis Business Journal

Planned

Safeguard Self Storage plans to complete a new facility in East Rockaway, NY, by February. The site, at 499 Ocean Ave., will have 600 units, 12 of which will be designed for commercial tenants. The site was previously the home of W.M. Berg Inc., a maker of aircraft parts. The company moved to Milwaukee in 2007 and the building was demolished. Last March, Safeguard Self Storage opened a new facility in Bronx, NY. It has 905 units and 50,750 rentable square feet. Safeguard, based in Atlanta, operates sites in Florida, Illinois, Louisiana, New Jersey, New York and Pennsylvania. Source: LIHerald

A rendering of the new Safeguard Self Storage facility planned
A rendering of the new Safeguard Self Storage facility planned in East Rockaway, NY.

Seattle will be getting a new self-storage building and it will be a renovation of an industrial site. Skills Inc. sold the building to 4514 8th Ave NW LLC for $2.57 million. The buyer is associated with the Rudd Co. and Alan M. Park. Last fall, Park sold the former Rudd properties at 1603-1634 15th Ave. W. for $7.3 million, and that site is being redeveloped as a self-storage facility. Source: Daily Journal of Commerce

Completed

Storage Express finished renovations on a former Maxx Self Storage space it recently bought in Centerville, IN. The facility, at 1183 Airport Road, has 25,000 rentable square feet. Storage Express also has bought and renovated a storage facility in Fort Wayne, IN. The company operates 93 self-storage locations in five states. Source: Inside Self-Storage

The Segal family has converted the former home of its custom apparel business into a StorageHub self-storage facility in Rock Island, IL. The building had been the home of Herman’s Inc. since it was built in 1953; Herman Segal started the business in 1946. The property, at 2820 Blackhawk Road, has 40,000 square feet of rental space in 230 units. The Segal family plans to grow StorageHub throughout the Quad Cities area (Bettendorf and Davenport, IA; and East Moline, Moline and Rock Island, IL). Source: Quad-City Times

DEStorage.com
DEStorage.com added two new buildings to its facility in Dover, DE.

DEStorage.com finished an expansion of its Dover, DE, facility at 1685 State St., adding two one-story buildings with 22,000 square feet of rentable storage space. The site also offers Penske truck rentals. Earlier, DEStorage.com opened a new facility in Millsboro, DE, which is its fifth location in Delaware. It’s located at 28862 Dupont Highway and includes 14 storage buildings.  The company also operates facilities in the Delaware cities of Milford, Rehoboth and Smyrna. Source: Dover Post

Under construction

Morningstar Storage is nearing completion of a five-story, 97,277-square-foot self-storage facility on College Street near Uptown Charlotte, NC. It will have 696 units, with 22 of them being ADA-accessible. The designer, Overcash Demmitt Architects, sees the project as another example of “Lifestyle Storage” in urban areas.

Bruce Goldberg