In Lorain, OH, the Zoning Board of Appeals approved a conditional-use permit that would enable TDI Lorain LLC to install about 300 storage units in a section of Lorain Plaza Shopping Center, 1089 Meister Road. It will be called Defender Self-Storage.
“I think we’ve seen (this kind of project) in other shopping projects where retail has shifted and owners are trying to find ways to fill that space and bring some services to the community,” said Steve Weisbrod, vice president of business development with Kossman Development Co., which owns the shopping plaza.
Source: The Chronicle
Planned
Stein Investment Group is poised to develop Glenside Lock Box Self Storage at the intersection of Glenside Drive and Forest Avenue in Richmond, VA.
Stein Investment Group has assembled six properties – including four single-family homes in the Fort Hill subdivision that will be demolished, plus a vacant lot – and plans to build a self-storage facility called Glenside Lock Box Self Storage on a 1.9-acre parcel at Glenside Drive and Forest Avenue in Richmond, VA. The purchase cost was $1.625 million. David M. Smith of Cushman & Wakefield | Thalhimer handled the sale for the sellers: Glenside Drive LLC, Reynolds Holdings LLC, Thomas Pruitt and H&R Gary LLC. Source: RVA Hub
Nuvo Development is bringing a 97,000-square-foot facility to Cranberry Township, PA.
Nuvo Development is developing a self-storage facility on a 97,000-square-foot land parcel at 20701 Route 19, Cranberry Township, in Butler County, PA. The boutique mortgage brokerage firm Talonvest Capital Inc. of Irvine, CA, put together more than $3 million of joint venture equity via its partnership with Clark Investment Group for Nuvo, and also obtained a $7.8 million non-recourse construction loan from a Midwestern bank.
Diamond Point Development LLC, working with Castle Hill Investors, plans to start building a self-storage facility at 6434 Covington Highway, Lithonia, GA, which is in the metro Atlanta region, in the second half of 2019. It will have 132,355 rentable square feet and 1,200-plus units, and is scheduled to open in fall 2020. In Georgia, DPD currently is developing self-storage sites in Marietta, Cascade Road, Fayetteville and East Point.
Metro Self Storage of Lake Forest, IL, will build a 138,000-square-foot, 1,084-unit, three-story self-storage facility at 3021 124th Ave., located in the southwest corner of Highway 10 ad Main Street in Coon Rapids, MN. The project has 2.73 acres of land. Metro Self Storage operates more than 125 properties in 12 states. The project was submitted for approval before Coon Rapids implemented a moratorium on self-storage projects; the city plans to upgrade its design and location standards for self-storage because of growing demand. Source: Finance & Commerce
The Fayetteville Planning and Zoning Commission unanimously approved a conceptual site plan for a three-story, 104,850-square-foot self-storage facility on a 3.1-acre property on Georgia Highway 54, west of Brandywine Boulevard in Fayetteville. The approval carries a condition: The applicant is to work with city planning staff to make sure that elevations will have the percentage of brick that commissioners agreed to. Source: The Citizen
Developer Eran Epstein, owner of E Square Capital, has asked the city of Buffalo, NY, for tax breaks for its planned 135,000-square-foot facility at 57 Tonawanda St. – which would include apartments and 20,000 square feet of self-storage – as part of its adaptive re-use of the 1915 Fedder Radiators structure. He and partner Chris Jacobs, a Colorado developer, have asked the Eric County Industrial Development Agency for $97,000 in sales tax breaks and $875,000 in mortgage recording tax breaks. They also will seek a property tax break through Buffalo’s 485-a program. Source: The Buffalo News
A self-storage development site sold for $1.28 million at Camelback Road and the loop 101 in Glendale, AZ. An unnamed developer plans a three-story building with more than 700 climate-controlled units. Kyle Topper and Jeff Gorden of Eagle Commercial Realty Services arranged the sale of vacant land; Eagle Commercial represented the buyer. Topper and Gorden are the Arizona broker affiliates of the Argus Self Storage Sales Network, based in Denver.
Under construction
The expansion of Montgomery Self Storage NY is expected to finish this month, adding 170 indoor, non-climate-controlled units. The family-run facility is located at 9 Factory St. in Montgomery, 10 miles from the Newburgh Airport. Source: MENAFN
Groundbreaking takes place Friday, May 10. for the new Storage Star Napa Airport self-storage facility, owned by Sacramento- and Napa, CA-based FollettUSA/Storage Star. The facility features 100 percent clean solar power, and unit monitoring and unlocking from a smartphone as among its features. It will have 618 units and is expected to open July 1, 2020. Thomastown Builders is the project contractor. Storage Star owns and operates self-storage facilities in the Rocky Mountain Region and Texas, and has a combined 12,000-plus units and 1.6 million rentable square feet. Source: Yahoo! Finance
Completed
Highland 9@ Self Storage and Wine Cellar, 3659 Route 9W, Highland, NY, will hold a ribbon-cutting ceremony at noon Friday, May 10. Source: The Daily Freeman
Storage Authority held a ribbon-cutting event on April 25 to celebrate its opening at 6615 N. Church Ave. in Mulberry, FL. It includes parking for RVs and boats. Source: The Ledger
Rejected
Voters at a town meeting in Hopkinton, MA, rejected developer Paul Mastroianni’s request to build a self-storage facility in the Industrial A zoning district on South Street. Source: MetroWest Daily News
