A farmer’s market in Kensington, MD, may be making way for a self-storage project.
1784 Capitol Holdings LLC, a real estate developer, has proposed self-storage on a 1-acre property at 10619 Connecticut Ave., where a farmer’s market currently operates. It’s proposing a five-story building with 140,648 square feet, including 5,000 square feet on the first floor for offices, retail or artist studios. The project would be completed in late 2020. 1784 also is developing a 143,529-square-foot, 1,254-unit facility on River Road in Bethesda, MD. Source: Bethesda Magazine
Uovo, which specializes in building storage units in which to safely store fine art, is adding a facility in the Bushwick area of Brooklyn, NY. It will have 150,000 square feet and units will be “designed to meet or exceed the standards of the world’s leading museums,” the company said in a news release. The units are 20 feet high in order to better handle large works of art. It’s scheduled to open in fall 2019. Source: Uovo
DealPoint Merrill is working with CubeSmart Self-Storage on two self-storage facilities in Ohio. In Richmond Heights, it’s redeveloping a 162,190-square-foot former Macy’s store, which has been vacant since 2015, and it will have 800 units. It’s scheduled to open Nov. 2, 2018, and plans also call for two national restaurant brands to fill retail space there.
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In Cleveland, DealPoint Merrill closed escrow on a 56,500-square-foot former Giant Eagle grocery store that’s on a 4.3-acre parcel. This project will involve renovating the existing buildings, landscaping, and 10,500 square feet for an exterior drive and restaurant to be built on an adjoining pad. Source: DealPoint Merrill
Miller-Valentine Group, a real estate development firm, and Coastal Storage Group, a self-storage developer, are building a three-story, 100,300-square-foot self-storage facility in Knoxville, TN, near the intersection of Western Avenue and University Avenue. Extra Space Storage will manage the site, which is expected to be finished in February 2019. Miller-Valentine and Coastal also are developing three-story storage facilities in Murrells Inlet and North Charleston, SC. They also finished building a similar property in Goose Creek, SC, in March. Source: Inside Self-Storage
The City Council in New Braunfels, TX, approved the first reading of a zoning request, in which applicant Paul Williams seeks approval to build a self-storage warehouse on a 9.33-acre site off Farm-to-Market 1044. Source: New Braunfels Herald-Zeitung
Cascade Storage Partners plans to build an 88,838-square-foot self-storage building at 2109 W. University Ave., which is north of Metro Transit’s light-rail line in St. Paul, MN. Jernigan Capital has invested $12.6 million into the project. Cascade, based in Charlotte, NC, aims to finish the building by mid-2019. Source: Twin Cities Pioneer Press
Excel Group hopes to build an 80,480-square-foot self-storage facility as well as a 160-room hotel and a 10,000-square-foot standalone restaurant on a 6-acre parcel in Springfield, VA. The location is south of the intersection of Loisdale and Newington roads. The company will ask Fairfax County for permission for the development since the parcel is zoned for industrial use. Source: WTOP
Real estate investment firm NitNeil Partners of Atlanta, GA, has purchased a site in Austin, TX, with plans to build a four-story, 100,000-square-foot self-storage facility there. It will have about 900 units. The company bought the 1.35-acre site at 2021 Airport Blvd., near the intersection of Airport Road and E. MLK Jr. Boulevard. NitNeil expects to break ground in Q1 2019 and open the facility in early 2020. This is the company’s first investment in Texas. Source: NitNeil Partners
Interbay Urban Storage has opened at 1561 W. Armory Way in the Interbay neighborhood of Seattle, WA. The four-story building has 68,776 square feet and 883 units. West Coast Self-Storage Group is managing the facility. The company, based in Everett, WA, has 37 sites in Washington, eight in Oregon and six in California. Source: Inside Self-Storage
Absolute Storage Management is operating the 70,501-square-foot Gatehouse Self Storage, which Clayton Self Storage Group opened in Clayton, NC. The three-story, 70,501-square-foot, 631-unit facility is about 15 miles from downtown Raleigh, and is near the intersection of Interstate 40 and Freeway 70. Source: Commercial Property Executive
Dyersburg Self Storage in Dyersburg, TN, has been expanded and upgraded, managing partner Sum Effect Investments has announced. When the facility first opened, it had 23,000 square feet and 180 units. The latest expansion brought those numbers up to 60,000 square feet and 480 units. The facility also upgraded its lighting, paved areas and converted its operating systems to accommodate smart phones, geo fences and SMS messaging. Source: Markets Insider