A group of railroad history buffs are hoping to relocate a historic train station building in the Highland Park neighborhood of Chicago. Why? Because self-storage operator Simply Self-Storage plans to demolish the more than 90-year-old structure to make way for a three-story facility at 1495 and 1505 Old Deerfield Road. The North Shore Line Preservation hope to…
Owners of multifamily facilities tend to notice tenant and lifestyle trends long before others — such as whether people are recycling more, what type of cars they’re driving, whether they’re receiving more mailed packages via e-commerce companies. Tampa’s Phillips Development has definitely taken note of another recent trend: Tenants asking where they can find nearby…
Self-storage lender and investment firm Jernigan Capital continues to prime the pump for a number of storage projects in June, including $10.8 million for the construction of a 993-unit facility at 1835 Washington Boulevard in Baltimore, MD. The developer, an Annapolis-based 1834 Washington Self-Storage, expects to start construction in the third quarter of 2017 for a second…
It is one of the most active markets for self-storage development, and still one of the most undersupplied. But new regulation may bring storage construction to a halt. Unless a last-minute compromise is reached, some industry officials say it now appears likely that New York Mayor Bill de Blasio’s proposed zoning restrictions on new self-storage…
A proposed CubeSmart facility in the Humboldt Park section of Chicago, IL is set to replace the shuttered Playskool Manufacturing Company facility at 1750 N. Lawndale Avenue. The former factory churned out Lincoln Logs from the 1940s through the 1960s. Northbrook, IL-based developer Martin Taradejna leads the entity that bought the site recently for $2.2…
Seattle-based West Cost Self Storage has proposed the construction of a four-story self-storage facility at 3251 Harbor Avenue SW in Seattle. An existing building will be demolished to make way for the 600 to 650-unit complex. The project is pending design review and building permits, according to the West Seattle Herald. Under Construction Developer: Big Tex…
Dallas-Fort Worth based All Storage Self Storage is currently developing eight facilities totaling two million square feet in the Metroplex area. Three of the facilities are already under construction, the remaining properties have obtained the necessary approvals. The pipeline is located as follows: W Sublett Rd and Hwy 287, Arlington TX, 200,000 square feet Firewheel…
Some industry observers warn of potential overbuilding within the self-storage industry, but Dean Jernigan is confident that the development cycle is still in the middle-innings. “We’re just past the midpoint of this development cycle, in the fifth or sixth inning,” said Jernigan, CEO of Memphis, TN-based Jernigan Capital, during the company’s quarterly conference call with…
The pace of new self-storage developments is on the rise, and as a result we present the Roll Up in a new, quicker-to-read format. If you have a development to report please send press releases to editor@sparefoot.com. In addition you can submit details using this form to add your project to the crowdsourced development map created…
Phoenix-based Wentworth Storage Company purchased an 11-acre site at 17492 N. 91st Street in North Scottsdale, AZ where it plans to build a 120,000-square-foot self-storage facility. Wentworth purchased the land with its development partner, Crow Holdings, for $4.35 million. Construction is expected to start in the second quarter and be completed by the first quarter…
