DMI Development DMI Development

LSC Development LLC has won a “controversial” zoning case over its plans to build a five-story self-storage facility at 5150 N. Northwest Highway in Chicago’s Jefferson Park neighborhood. The approved plan calls for the demolition of an existing warehouse building on the site, followed by construction of the new facility. Dozens of residents spoke out against…

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Valley Storage Co. purchased the 122,239-square-foot self-storage facility at 34425 Lorain Road in North Ridgeview, OH for $3.8 million (pictured at top). The seller, Fields Stor-All LTD, was represented by Ryan Clark of SkyView Advisors. Valley Storage is owned by Todd and Tina Snook, and has 15 locations throughout Maryland, Ohio, Pennsylvania, Virginia and West…

JCAP markets JCAP markets

As the development cycle kicks into the next gear, Jernigan Capital is rapidly accelerating its self-storage construction loan activity. The company has already closed on $105.6 million in new development investments during the first 60 days of 2017, and has a pipeline of in place of $800 million of additional investments, according to its recently…

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Safeguard Self Storage has completed a new 50,750-square-foot self-storage facility at 1112 East Tremont Street in the Bronx, its 25th facility in New York. The new facility offers 905 units. The facility (pictured at top)  features a drive-in loading area, door alarms and video monitoring among other amenities.  The company has three additional facilities still under…

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National Storage Affiliates purchased the self-storage facility at 2015 8th Avenue W. in Palmetto, FL for $4.48 million (pictured above). The seller was Investment Properties of Sarasota LLC. NSA will operate the facility under the Hide-Away Storage name. An entity called 191 III 771-775 LLC purchased the 72,150-square-foot self-storage facility at 601 Martin Avenue in…

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CubeSmart is tempering its outlook for 2017 as it faces competition from new supply and reduced growth from occupancy gains. As it squares off with new competition, CEO Christopher Marr said the company must reach customers first and price their product accordingly. “We are facing new supply entering our markets, therefore our proficiency in engaging…