JLL Capital Markets secured $6.2 million to back the construction of Sachse Self-Storage in Sachse, TX, a suburb of Dallas-Fort Worth. Austin, TX-based Central Southwest Texas Development LLC is the developer. The three-story facility will have 906 climate-controlled units and 91,170 net rentable square feet at 7970 Woodbridge Parkway. JLL’s Griffin Guthneck, CW Sheehan and…
A vacant Grand Union supermarket at 170 Clay Pond Road in Monument Beach, MA, may become a self-storage facility. Project developers propose to renovate the former grocery store, plus build a two-story, 15,000-square-foot addition next to lt. In total, there would be 105,660 square feet for storage. In addition, they have proposed 35,600 square feet…
It’s a particularly hot time in Northeast Florida these days for the self-storage industry, with more than a dozen facilities proposed or under development. Scherer Construction alone is working on seven such projects. “Both our youngest and oldest adult populations are in a transitional state,” said Michael Biagini, vice president at Scherer. “The younger is…
Talonvest Capital Inc. recently completed the negotiation of a $48.4 million refinance bridge loan. Nothing unusual there; Talonvest is currently negotiating transactions worth between $7 million and $125 million. But a note of caution from Thomas Sherlock, one of Talonvest’s three principals. “The demand for this type of loan from borrowers is increasing, but the…
GreenSpace plans to build a 100,000-square-foot self-storage facility that uses surplus shipping containers in Pearland, TX, on a 2.4-acre parcel it recently purchased. The project will be its second facility in Pearland, completing its first last year. The company said it plans to develop 50 storage facilities in the next seven years. “We are aggressively…
A mixed-use project with apartments and self-storage – the latter with a four-story building with 100,000 square feet – could be coming to Willard Road in Norwalk, CT, as Frontier Communications wishes to move its vehicle dispatch center off of Willard Road to the former FedEx site on Meadow Avenue. Amendments to the city’s zoning…
Two vacant buildings in Saginaw Township, MI, will be turned into self-storage facilities. In March, Star Saginaw LLC bought the former Value City furniture store building (140,000 square feet) on Bay Road, which has been vacant for about 10 years. Across the street is a CubeSmart site that formerly was a Kmart. Also, Storage of America…
Developers Casey Brock and Tony Berry hope to create something special – “a modern version of yesterday’s warehouse” – as construction begins on its new self-storage facility at 1861 Ashley River Road in Charleston, SC. It will have 675 climate- and humidity-controlled units, and 96,000 square feet, with CubeSmart as manager. “Our objective was to…
Coda Management Group plans to build a self-storage facility at 535 E. Third St. in the Webster Station neighborhood of Dayton, OH. Coda affiliate Platform III Third LLC purchased a former warehouse of 86,640 square feet dating to 1913 that sits on the site. Scott Krone, Coda’s managing partner, hopes to finish the build by…
Elevation Capital Group’s MHPI VII LLC, better known as Fund 7, attracted more than 500 members and raised $100 million in subscriptions since launching in April 2017. That’s a fast raise, and fund managers have announced they have raised the maximum offering amount by $50 million, to $150 million in total. Elevation, a real estate…
