A joint venture plans to develop a three-story, 98,000-square-foot self-storage project in Peachtree Corners, 7112 Peachtree Industrial Blvd. in Atlanta, GA.

The joint venture is comprised of Polara Capital, a Capital Markets Advisory firm; real estate firm WePartner; and ADEVCO, a commercial real estate developer. LifeStorage will manage the property. The $8 million project broke ground this month. Source: Connect Atlanta Commercial Real Estate News 

Planned

A new Extra Space Storage facility is coming soon to Bayonne, NJ.

Extra Space Storage will operate a new 124,960-square-foot, five-story facility west of Route 440 in Bayonne, NJ. It will be on the border of a new road that will go from the eastern end of East 24th Street to East 22nd Street. The City Council, in a 4-1 vote, awarded 25-year tax abatements to Extra Space Storage and two other projects. Johnson Development Associates, which is building the storage facility, will contribute about $200,000 of road construction and another $150,000 to the roadway project. Source: NJ.com

In Buffalo, NY, the Planning Board approved two self-storage development projects. Wayne Bacon and Jack Ruh plan to rework the former Fedders Radiator three-story building, 31 Tonawanda St., into an indoor, climate-controlled storage facility. They also hope to build outdoor self-storage garages on vacant land across the street at 150 Tonawanda. Nearby is the former Fedders Manufacturing Works and Fedders Automotive Corp.; developer Eran Epstein plans to convert them into 80 apartments plus storage space. Source: The Buffalo News

U-Haul plans to open a 60,000-square-foot, climate-controlled  self-storage building in the former Bristol Kmart building at 2854 W. State St. in Bristol, TN. The building has been vacant since 2016. Source: News 5 WCYS

The Huntingdon County Planning Commission approved comments for a 4,000-square-foot addition to Strickler’s Self Storage on Fairgrounds Road in Smithfield Township, PA. Source: The Daily News

The Springettsbury Township Planning Commission has approved a proposed change in zoning that would allow a mini-storage facility to replace an empty The Bon-Ton store in York Galleria in Pennsylvania. W.P. Carey seeks to open the facility at the mall. The self-storage facility would be self-contained in the store’s space. The Bon-Ton stores filed for bankruptcy in February 2018. Source: York Dispatch

Dittmar Realty Inc. will begin building two new My Choice Self Storage facilities this spring at the American Eagle Business Park in Slinger, WI, following the village Planning Commission giving its approval. They’ll go up at the northwest corner of Highway 60 and Hillside Road, and will be part of Slinger Self-Storage. Source: gmtoday.com

A former Toys R Us building at 27048 Lorain Road in North Olmsted, OH, is going to become a Space Shop Self-Storage facility. Developer Stein investment Group of Atlanta plans to rework the 42,000-square-foot building into a facility with about 600 climate-controlled units. Source: Cleveland.com

Legislative

In a unanimous vote, the City Council in Parma, OH, mandated a six-month moratorium for opening new self-storage facilities. There are about a half-dozen facilities in Parma, mostly along Brookpark Road’s commercial and manufacturing areas. “We believe it would be a smart move to hit the pause button on storage unit facilities and take a look at our zoning code as to how best to address the number of these facilities (within) our city,” Mayor Tim DeGeeter said. Source: Cleveland.com

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Bruce Goldberg