There’s such a thing as getting too much help. The St. Louis County Council in Missouri voted 7-0 to reject a zoning variance that would have enabled the building of a 90,000-square-foot self-storage warehouse facility and offices on a vacant 4-acre property on Lemay Ferry Road. What made this otherwise-ordinary council vote different was that…
The economic impact of the coronavirus pandemic has hit the nation’s self-storage industry – dealmakers, owners, operators, developers and others all trying ways to adjust. Risk-averse behavior has grown among developers and bankers; non-recourse funding has almost disappeared, accounting for a jump in recourse deals. Deal making has slowed, with CMBS (commercial mortgage-backed securities) on…
In Georgia, the Sandy Springs City Council approved one self-storage project and denied a second. The council approved a conditional use permit for a three-story, 1,000-unit facility by Taylor/Theus Holdings Inc. at 120 Northwood Drive. The council wouldn’t approve a conditional use permit for RRB Development to build a three-story, 720-unit facility at 8040 Roswell…
Digging dirt? Share your self-storage development new starts and completions with us at editor@sparefoot.com. “I’m very, very disappointed,” Councilman Dave White said. “I have no confidence the office will ever get built. I think you’re going to dumb it down and essentially going to put an industrial area right next to a residential area. That’s…
Liberty Investment Properties hopes to build Liberty Corner – which would house five retail outlets, a restaurant and drive-thru plus a My Neighborhood Storage Center — at the corner of East Colonial Drive and Magnolia Avenue in downtown Orlando. That’ll be just in time, as the Orlando Economic Partnership’s 2030 report said Orlando will add…
Talonvest Capital Inc., based in Irvine, CA, negotiated $10.27 million in financing for Go Store It, the self-storage division of Madison Capital Group LLC. There were two parts: (1) a $4.77 million construction loan to build a three-story facility in Southeast Louisville, KY, with 661 climate-controlled units and 62,811 rentable square feet; and (2) a…
Beyond Self Storage at Sterling Heights, MI, held a grand-opening ceremony Aug. 15. The-three-story facility began operating last March. It has 740 climate-controlled units, 12 parking spaces and 114,238 square feet. It’s located at 6263 18 1/2 Mile Road. Planned A three-story, 106,455-square-foot, 889-unit SAFStor self-storage facility will be built near Atlantic Station in Atlanta,…
My Neighborhood Storage Center of Magnolia, which will have 700 climate-controlled units, is part of an under-construction mixed-used, retail development in downtown Orlando, FL. Liberty Investment Partners Inc., working with private investors, is developing the three-story property, which will include six retail spaces with a total of 15,000 square feet, a restaurant and drive-thru. It…
A three-story, 84,000-square-foot self-storage building has been proposed for a project that also would include a Putt-Putt Fun Center at 2200 Eubanks Road in Chapel Hill, NC. The latter could include mini golf, laser tag, bumper cars, an arcade inside a 16,000-square-foot building, a go-kart track and batting cages. The self-storage building would need a…
Developer Jim Allard showed his plans to the Hudson, NH, planning board to build a new self-storage facility on Roosevelt Avenue. He wants to put up a three-story, 90,900-square-foot facility at 23 Roosevelt Avenue. His plan is to combine two lots and take down a 4,990-square-foot concrete building and parking lot before starting the new…
