Metro Storage LLC opened new self-storage facilities in November, with one at 16 Wilmington West Chester Pike (Route 202) in the Philadelphia suburb of Chadds Ford, PA, and the other at 847 Deerfield Parkway in the northwest Chicago suburb of Buffalo Grove, IL.
The Chadds Ford site has 119,400 overall square feet, including 83,000 square for storage, with room for 934 units; it is Metro Storage’s 10th store in Pennsylvania. The Buffalo Grove site has a three-story building with 850 units and 119,400 square feet overall, including 85,000 square feet for storage. It is the 24th Metro Storage site in the Chicago area. Metro Storage partnered with Fremont Realty Capital on both projects. Source: PR Newswire
In Connecticut, the Stamford Zoning Board approved building a three-story, 67,220-square-foot self-storage facility at 11 Leon Place in the city’s west side. Empire Storage LLC plans to have 470 units at the site. Construction is expected to begin by year-end. Empire had hoped to build housing at the site, but residents objected to potential traffic issues, so the company changed course. Source: Westfair Online
U-Haul plans to repurpose a former Kmart building on the 3900 block of Pole Line Road in Pocatello, ID, turning it into a self-storage facility with 700 indoor units, plus a U-Haul truck and trailer retail store. U-Haul has a pending deal to acquire 13 additional Kmart and Sears locations from Sears Holdings Corp.
Source: Idaho State Journal.
Also, U-Haul is converting a 77,000-square-foot former Ultra Foods grocery store, in the Shoppes at Meadowview complex at 1200 Kennedy Drive in Kankakee, IL, into a company store. The company expects to spend $5 million to $6 million on the renovation. Between 50,000 and 55,000 square feet will be dedicated to storage units. U-Haul doesn’t yet own the building, but is expected to close in Q1 2019. Source: Daily Journal
The Bluegrass Stockyards neighborhood, hit by a fire in 2016, may become home to apartments and storage units in Lexington, KY. The city’s planning commission is considering a proposal, called Distillery Heights on Town Branch for a 9-acre site on Lisle Road, which calls for 228 apartments in two buildings plus 800 self-storage units in a two-story building. The buildings would be on Manchester Street. No developer has been named yet.
Source: Lexington Herald Leader
Foulger-Pratt, based in Potomac, MD, garnered almost $112 million in financing for two projects in Washington, D.C., including $22.5 million for Foulger-Pratt’s 72 Florida Ave. Self Storage, which will be a 166,000-square-foot facility in the NoMa district. Berkedia arranged the financing. (The second project, which won $89.5 million in construction refinancing, is for Beckert’s Park at 415 14th St. SE.) Source: Commercial Property Executive
In Minnesota, the Coon Rapids Planning Commission rejected a project calling for a 66,400-square-foot self-storage facility east of Coon Rapids Boulevard, south of Coon Rapids Boulevard Extension and west of Vale Street. Green Partnership LLC sought a conditional-use permit and site plan approvals for two vacant parcels. Source: ABC Newspapers