The Daniel Group, in Danville, VA and Cherney Development Co. Inc. of Winston-Salem, NC, plan to subdivide the property of a former Kmart building on Riverside Drive and renovate the vacant building into a self-storage facility in Danville. It will use 4.1 acres from an 8.19-acre shopping center. The Danville City Council approved rezoning the…
This is an archive of self-storage development news items from the month of November 2020. Development news from the week of 11/4/2020 A 150,000-square-foot self-storage facility and RV storage lot may be going up as part of the 3701 North Pacific Place Project, under development by the Artesia Acquisition Co. in Long Beach, CA. The…
An archive of the top self-storage development news items you might have missed. News from the week of 10/14/20: Cysner Properties-Edison was going to convert the 3421 Route 22 East building, former home of a Sun National Bank, into a self-storage facility in Branchburg, NJ. However, after completion of the interior demolition of the building,…
Fast-growing Neighbor.com is making a bold claim as it flexes its muscles. “The space that we have on the platform today would cost a traditional self-storage facility well over $1 billion to build that space,” CEO Joseph Woodbury said. “Rather than building new space, we’re just tapping unused space that was sitting vacant.” The company…
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,…
