Jim Sapp, an entrepreneur in Indianapolis, IN, is ready to expand Commercial Self Storage, the company he started seven years ago that caters to business customers. He plans to add two locations this year, three more within one year and more after that.
“Our niche is helping businesses with logistics and storage – and there’s a big demand because, after the recession, people got smarter and they’re looking for smaller warehouses,” Sapp said.
He and his wife, Theresa, own Commercial Self Storage, which has locations in Castleton and Greenwood in Indiana plus in suburban Columbus, Ohio. Castleton was the first, opening in 2010 with two buildings; there are nine now. The Greenwood facility opened with seven buildings and 70,000 square feet, and another 90,000 square feet is being added. The Columbus site opened several weeks ago.
New facilities are planned for Noblesville, IN, and in Ohio’s Dayton and Cincinnati. After that, Sapp envisions growth in Indiana, Ohio, Kentucky and Michigan. Sapp said he plans to keep building the company for eight to 10 years, then to sell it. Forty percent of tenants are large companies, with the rest being small, established businesses and startups. Storage units range from 300 to 3,000 square feet.
Source: Indianapolis Business Journal
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The wishes of self-storage business owners were granted when the Yonkers (NY) City Council voted to allow such facilities into retail corridors. They’re now able to move into shopping districts such as those along South Broadway and Central Park Avenue, as long as there are ground-floor retail businesses, which don’t have to be related to self-storage. The City Council approved a zoning change for self-storage at 1969 Central Park Ave., and excavation work has begun there. The city’s planning board still must approve the final design of the building and parking lot. Source: LoHud
Premier A-2 NC, DE LLC will build an 84,000-square-foot self-storage facility after purchasing 3.19 acres at 144-146 S. DuPont Highway in New Castle, DE, for $1.55 million. Greg Ellis, principal with Patterson-Woods, represented the seller and Dan Hudak of MacKenzie Commercial Real Estate Services represented the buyer. Source: Delaware Business Now
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Attorney Jerome Karam has bought the closed 1950s-era Cossaboom Family YMCA on the South Loop, and plans to rework the site into a five-story gym and a separate, 45,000-square-foot self-storage facility in Friendswood, TX. Karam’s redevelopments include Texas City’s Mall of the Mainland and Galveston’s Flagstaff brewery. Source: Chron.com
A five-story, 108,000-square-foot, 826-unit CubeSmart facility is coming to Kansas City, KS. Phillips Development & Realty closed an $11 million investment in the project, which will be located at 510 Southwest Blvd. Jernigan Capital supplied the financing. The site is about one mile from the University of Kansas Medical Center, and is aimed at the markets of Mission Hills, Prairie Village and Downtown Kansas City. Groundbreaking is scheduled for this month, with completion scheduled for Q2 2019.
In Texas, the Sherman Planning Zoning Commission has been asked to approve a site plan for a self-storage facility at 2031 W. Houston St. Also, the commission’s board of adjustments will consider an exception that would allow the facility to have metal panels on two sides. Source: Herald Democrat.com
The William Warren Group of Santa Monica, CA, hopes to build a StorQuest Self Storage facility in a former Kmart building of 140,000 square feet at 200 W. Belleview Ave. in Englewood, CO. Kmart closed there in November. The California company, which operates the StorQuest brand, seeks to repurpose 60,000 square feet for self-storage, with construction starting in 2019. Chuze Fitness has agreed to take 40,000 square feet for a gym, and the remaining 40,000 square feet are being shown to retailers and restaurants.
In Georgia, the Smyrna City Council approved a rezoning that will allow the construction of a three-story self-storage facility at 2520 Spring Road, just one mile from the Atlanta Braves’ SunTrust Park. It will replace a dilapidated retail strip center and have 113,895 square feet, including 4,260 square feet for retail and office space. Source: Cobb County Courier
Wasatch Storage Partners of American Fork, UT, has proposed to build Country Club Self Storage in Rochester, MN. It would replace the 50,000-square-foot Trade Mart Furniture Center, which is closing after 83 years. Source: Post Bulletin
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News Properties LLC has bought the former Birmingham (AL) News production building at 2200 4th Ave. North for $1.5 million and plans to repurpose its 97,000 square feet into a self-storage facility. The Birmingham Design Review Committee approved that idea in February. Source: Al.com
Denver-based Joan Lucas Real Estate Services sold sold 3.9 acres in Brighton, CO, for $1.275 million. A 95,000-square-foot CubeSmart self-storage facility is planned for the site. The buyer was not named. Source: Argus Self Storage Sales Network
A joint venture of SROA Capital, MacArthur Holdings and Live Oak Capital Partners has opened Storage Rentals of America at 1620 N. Congress Ave. in West Palm Beach, FL. The three-story building has 105,000 square feet and 742 units, plus a 1,200-square-foot first-floor retail space. It’s near the intersection of Palm Beach Lakes Boulevard and I-95, across from the Palm Beach Outlets. Source: PRNewswire
Public Storage opened a two-story, 750-unit self-storage facility at 2047 Witt Road, Frisco, TX. It’s located near FM 423 and Lake Lewisville. Source: Community Impact Newspaper
CubeSmart opened a new self-storage facility at 27125 Davis Drive in Sterling, VA. The Young Group developed the property, formerly a church site. Source: Loudon Now