SpareBox Storage acquired 28 stabilized properties in Michigan and Ohio, adding a total of 1.9 million net rentable square feet to its portfolio. The acquisition enables the company to open seven new markets in the Midwest. Newmark’s Aaron Swerdlin and Kenneth Cox, co-heads of the Newmark Self Storage Group, represented the seller. Nationally, Denver, CO-based…
Trojan Storage opened a new facility in August, Trojan Storage of San Jose at 1025 Knox Ave., San Jose, CA. It’s a three-story, climate-controlled building with 1,214 units. The new business also is the company’s second location in the area, with another two under construction. Trojan Storage also plans to build a 167,000-square-foot self-storage site…
Many people have had to close their businesses or delay growth plans during the pandemic. But Jeremy Friedman, 47, and Grant Reaves, 29, who have worked together in the past, saw it as a golden opportunity to fill suddenly empty big-box stores with self-storage businesses. As the brokerage market slowed, they started Stoic Equity Partners…
Titan Development sold the last four self-storage assets in its inaugural fund, the Titan Real Estate Development Fund I, a $112 million private-equity real estate fund. Titan is a full-service department and real estate investment firm, and invests in industrial, multifamily, self-storage and senior-living sectors. Titan sold the four facilities to Extra Space Storage Inc.,…
Storage Inns of America, which is based in Washington Township, OH, plans to bring more self-storage to the area with the construction of 80,000 square feet spread over nine new buildings at 1840 Woodman Center Drive in Kettering, OH. It will be built on 5 acres and will include household units, commercial storage for businesses…
The Storage Acquisition Group has established a presence in Canada and named Lloyd McDonald director of Canadian acquisitions. He is based in Calgary, Alberta. McDonald will focus on purchasing storage facilities and portfolios directly, meaning owners don’t have to list their assets. McDonald’s background includes real estate and building a private financial services firm that…
Boise, ID-based Forge Building Co recently announced it landed 10 new self-storage building projects with a combined total of more than 600,000 square feet in six Idaho cities: Boise, Meridian, Eagle, Hailey, Twin Falls and Rupert. “We’re actually hiring a lot right now and are looking for great talent,” said Roger Burgin, COO, who joined…
This page is an archive of self-storage development news from April 2021. For the latest development news, check here. Eagle Land LLC hopes to include 100,000 square feet of self-storage in The Enclave, a development that would include one- and two-story commercial/retail buildings and 84 single-family lots in Memphis, TN. The DeSoto County Board of…
Everyone knows the pandemic has wreaked havoc with the U.S. and world economies, with massive layoffs and closed businesses. But the nation’s self-storage industry has thrived amidst the chaos, according to industry experts, with more growth to come. “Self-storage was the best-performing real estate asset class for the last 12 months,” said Cory Sylvester, principal…
DXD Capital got a nice present during the holiday season: Its new DXD Self Storage Fund I, which it launched in September with a goal of raising $50 million, garnered $12.5 million before Thanksgiving. “We really started the capital raise Sept. 1,” said Drew Dolan, principal and fund manager for DXD, which is based in…
