Extra Space Storage spent $18.2 million to buy a newly built, climate-controlled self-storage space inside the Metropolitan Washington, D.C. Beltway at 7618 Marlboro Pike in District Heights, MD. Big Cypress Capital of Naples, FL, along with its Headwaters Strategic Operator Platform and Strategic Operator partner PSG in Baltimore, MD, completed the sale. The facility has…

A former industrial drum manufacturing plant in Tonawanda, NY will become a self-storage facility in a $30 million project. Boxes Builders, a self-storage developer in Greenwood, IN, plans to rework the former Greif Inc. packing plant at 2122 Colvin Blvd. into 800 climate-controlled units in 138,000 square feet. The site also will provide outdoor parking…

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…

This post is an archive of self-storage development news from January 2021. For the latest news, check out the latest edition of The Roll Up column here. Development news from 1/27/2021 AAA Self-Storage plans to construct a two-story, 76,312-square-foot facility on Lewisville-Clemmons Road in Clemmons, NC. It will be built along the east side of Lewisville-Clemmons,…

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Elevation Capital Group strongly believes it’s found a winning formula by investing in a combination of self-storage facilities and mobile home parks. Its Fund 7 (MHPI VII LLC) opened in April 2017, attracted more than 500 members and raised $150 million – in an offering that began with a $100 million maximum—before closing April 1,…

For two guys that have the patience of Job as they scope out potential self-storage acquisitions, Jon Erickson and Jonathan Vollinger strike quickly when it’s time to buy. Witness two recent purchases that closed within the past three weeks. Their company, Austin, TX-based HPI Real Estate Services & Investments, first bought a 72,901-square-foot facility at…