How does 1,850 units sound for one self-storage facility? How about 2,100?
Treasure Island Storage of Brooklyn, NY, plans to build a couple of large self-storage facilities in New York City. One is at 79-40 Cooper Ave. in Glendale, NY, with 130,000 square feet and 2,100 units—all in one building. In addition, Treasure Island will build a 15,000-square-foot single-story warehouse, which has been leased out already. Topping out is expected this spring, with an opening in June 2019, according to Treasure Island President James Coakley.
In addition, Treasure Island plans to develop 14,000 square feet of retail stores on the front portion of the site along Cooper Avenue, and already has leased out 10,000 square feet. Work is expected to start in Q1 2019.
Treasure Island is building another large site at 33 Remsen Ave., also in Brooklyn, with 100,000 square feet and room for 1,850 units.
But wait there’s more!
The company also just broke ground for an 80,000-square-foot facility at 1654 Bushwick Ave. in Brooklyn; it’ll have 1,350 units and be the company’s Brooklyn storage facility.
Overall, Treasure Island operates eight self-storage facilities, including six in New York City and two more in northern New Jersey. The company has another three locations in various stages of construction (one each in Manhattan, Brooklyn and Queens).
Officials in Lower Pottsgrove, PA, are considering proposals for self-storage facilities on North Charlotte Street, South Pleasantview Road and East High Street. Moove In Self Storage has proposed to put a new $3 million facility at 2148 E. High St., which previously housed car dealerships. The company also wishes to do a $500,000 expansion of its existing self-storage site on South Pleasantview View Road, which would grow from 267 units to 356. Also, Amity Township recently approved a Moove In facility in there. Also in Lower Pottsgrove, GEG 663 Storage proposes a new self-storage facility across from Planet Fitness that would have between 175 and 300 units. Source: The Mercury
JSM Venture Inc. spent $2.3 million to purchase a vacant 90,426-square-foot former Kmart at 3355 Sheridan Road in Zion, IL, and plans to convert it into an indoor self-storage facility with 69,750 square feet and 619 units. Paine/Wetzel represented the seller, Amin & Shah Solutions LLC, and Colliers International/Chicago represented JSM Venture in the transaction. Source: RE Journals
StorageMart plans to expand two of its self-storage facilities in Lee’s Summit, MO, adding 135,000 square feet and 1,400 climate-controlled self-storage units. The company will add 75,000 square feet to the facility near Highway 50 and Milton Thompson Road, plus another 60,000 square feet to its facility at the intersection of Highway 291 and 150.
Daniel Blanchard of 459 Broadway LLC spent $797,000 to buy an East Side property, a 46,193-square-foot building, from Drescher Paper Box Inc. in a 1.9-acre purchase in Buffalo, NY. Blanchard plans a $1 million project to convert the former manufacturing facility, which is three stories high, into a self-storage site with 200-plus units. Drescher, founded in 1867, will look to move into a smaller space. Source: The Buffalo News
Longview Development LLC in Houston, TX, has begun planning its $1.6 million conversion of a closed Kmart building on McCann Road in Longview, TX, into a self-storage business. The 105,000-square foot site would be called Simply Stor It and may be ready by the end of Q1 2019, said Steve Bigelow, project manager. Plans call for between 500 and 600 units. The company also plans to build an apartment complex on the 11-acre property at 1100 McCann Road. Source: Longview News-Journal
Midwest Self Storage Development, an Indiana company, plans to build 873 climate-controlled storage units in the 102,206-square-foot building at 930 W. Holmes Road in Lansing, MI. It will convert a dilapidated building that has been empty for more than five years after housing Electronic Data Systems. Midwest expects to open the business in spring 2019. Source: Lansing State Journal
JLL Capital Markets secured a construction loan for Central Southwest Texas Development LLC to develop a self-storage facility with 1,311 units at 10411 Westheimer Road in the Westchase area of Houston, TX. The five-story facility will have 132,350 square feet of space. Population within a three-mile radius of the location grew 17 percent between 2000 and 2018. Griffin Guthneck, senior vice president, and CW Sheehan, vice president, led JLL’s team for the financing.
A self-storage facility of approximately 121,000 square feet and about 870 units is coming to 2060 Coolidge St. in Hollywood, FL. Law firm Nason Yeager represented Self Storage Coolidge St Hollywood LLC – a joint venture of Rosemurgy Properties and Sentry Self Storage – in obtaining a $10.4 million loan from BB&T to build the facility. Brian Hickey and Adam Gutin from Nason Yeager’s real estate group represented Self Storage Coolidge St Hollywood (Hickey and Gutin also represented Sentry Deerfield Beach LLC when it converted a building into a two-story self-storage facility with about 93,100 square feet and 726 storage units in Deerfield Beach, FL.) Sentry Self Storage will manage and operate the Hollywood facility when it opens.
Outbox Lifestyle Storage at Surfside Beach, which is near Myrtle Beach, SC, has opened with a three-story building and 550 units in 75,000 square feet. Brian Patch Advisors of Charlotte, NC, is the owner. The architect was Overcash Demmitt Architects of Charlotte.
Garfield County trustees rejected U-Haul’s proposal to open a $10 million development in a former Kmart space at the Cherryland Center in Traverse City, MI. Schostak Brothers & Company owns the parcel and had hoped to win an amendment to the township’s zoning code so it could open a retail store plus add self-storage units in 90,000 square feet on Garfield Avenue. Source: The Ticker