DXD Capital finished development and opened a climate-controlled 991-unit facility at 7435 W. Sahara Ave. in Las Vegas, NV. DXD bought the 1.7-acre parcel in January 2021 through the DXD Self Storage Fund that it started in November 2020. Public Storage manages the...
Development
The Roll Up: Store Space extends portfolio with new Indianapolis facility
Adams French Property extended its partnership with Store Space Self Storage taking over management at three new locations – two in Minnesota and a new one under construction in the Fall Creek Place neighborhood of Indianapolis, IN. The latter was developed at 2455...
The Roll Up: Developer breaks ground on 7-story Long Island facility
In Hempstead, NY on Long Island, LSC Development LLC broke ground on a seven-story self-storage building. It will have 1,382 climate-controlled units spread across 112,188 NRSF. It’s scheduled for completion in Q4 2024. Mancini Mui Architects designed the building....
The Roll Up: True Storage completes retail to storage conversion in Connecticut
True Storage opened a new self-storage facility at 10 Prospect Hill Terrace in East Windsor, CT. It opened Jan. 24. The renovated, 51,383-square foot facility has 585 climate-controlled units and previously was a site for Burlington Coat Factory (below). It is the...
The Roll Up: Storage Fox set to build new NYC facility
It awaits approval, but a lot at 106-02 Rockaway Beach Blvd. is slated to become Storage Fox, with a six-story, 135,719-square-foot facility in Queens, New York City (below). The NYC Building Department and the MTA are revisiting the building plans and construction...
The Roll Up: LSC completes 1,691-unit storage site in Queens
LSC Development LLC of Barrington, IL finished building a 90,136 NRSF structure, with 1,691 units, at 62-05 30th Ave. in Woodside, NY. It’s located in Northwest Queens near LaGuardia Airport and the Brooklyn Queens Expressway. Chicago-IL based ByLine Bank provided the...
The Roll Up: Morningstar secures $65.8 million to buy 3 newly built stores
First Citizens Bank announced that its Middle Market Banking business provided a total of $65.8 million in financing for affiliates of Morningstar Properties, an investor in and operator of self-storage facilities, marinas and other specialty real estate assets. The...
The Roll Up: Devon opens new facility in former Kmart
Inland Private Capital Corp., a real estate investment manager, and Devon Self Storage Holdings, a privately held national storage operator and developer, opened a 91,787-square-foot self-storage facility in Allentown, PA (below). It’s the third delivery on behalf of...
The Roll Up: LaTerra plans $50 million storage-retail conversion in TX
Fry’s Electronics is no more – and self-storage facilities are taking over some of the big-box retailers’ former locations. Los Angeles, CA-based LaTerra Development plans a $50 million mix of retail and self-storage to fill a Fry’s at 2488 Market Place Blvd. in...
The Roll Up: Public Storage reopens high-tech facility in Silicon Valley
Public Storage recently reopened its facility adjacent to offices of Apple Inc in Cupertino, CA after completing an expansion and major high-tech upgrades. The facility at 20565 Valley Green Drive, now has two five-level buildings and grew from 51,000 square feet to...
The Roll Up: Baranof sells stake in newly built SoCal facilities
JLL Capital Markets arranged a recapitalization of two new self-storage facilities totaling 1,975 units in California’s San Diego and Los Angeles areas. It was done on behalf of the seller, Baranof Holdings. Clarion Partners is Baranof’s new partner, buying out the...
The Roll Up: Public Storage and Atlanta Botanical Garden strike land swap deal
The Atlanta Botanical Garden in Georgia is working on a $40 million land swap that would result in a new five-story self-storage facility in the Virginia-Highland area of Atlanta. The existing Public Storage facility adjacent to the botanical garden will be torn down...
The Roll Up: JV starts work on 680-unit facility in NY
Rosewood Property Company and Diamond Point Development started construction on a 68,000 rentable square-foot self-storage development in New York. Diamond Point serves as the project developer while Rosewood is the majority equity partner. The site is located about...
The Roll Up: Weekly Self-Storage Development News 11.9.22
The Delaware Planning Commission approved three requests for recommendation to the City of Delaware City Council to allow a 49,600-square-foot indoor self-storage facility on the east side of the city. It would have 167 conditioned units and 204 unconditioned ones....
The Roll Up: Weekly Self-Storage Development News 10.27.22
Remediation must be completed before developers RD Management and BF Orangetown LLC can build a facility at 5 Greenbush Road in Orangeburg, NY, behind Lowes on Route 303. The project will put up a two-story, 118,323-square-foot, self-storage, multi-tenant and...
The Roll Up: Weekly Self-Storage Development News 10.20.22
Developer Steve Freedman wants to give self-storage a whole new look and plans to do so in downtown Tampa, FL. He expects next week to close his purchase of the half-city block at 1221 N. Florida Ave. There’s a surface parking lot there, but Freedman’s vision of the...
The Roll Up: Weekly Self-Storage Development News 10.12.22
Extra Space Storage is coming to Lafayette, LA with a climate-controlled self-storage facility coming to a former Sears space that’s attached to The Acadiana Mall. A car wash will also be added. Star Lafayette LLC, a Florida-based development company, bought the...
The Roll Up: Weekly Self-Storage Development News 10.5.22
In Virginia, the Town of Herndon Planning Commission unanimously approved replacing a 40-year-old warehouse with a 30,000-square-foot Security Public Storage facility at 331 Victory Drive. The warehouse, whose tenants include the Wolf Trap Foundation for the...
The Roll Up: Weekly Self-Storage Development News 9.28.22
NitNeil Partners plans to build a five-story self-storage facility at 25856 Highway 19 in Clearwater, FL. It will sit on an 0.25-acre site that the company bought in June. It will have 725 climate-controlled units across 70,000 rentable square feet. Construction will...
The Roll Up: Weekly Self-Storage Development News 9.21.22
A four-story, 140,000-square-foot self-storage facility is coming to South Orange, NJ. Larry Weiss of Elite Realtors sold 311-317 Valley St. and adjoining properties along Lackawanna Place. Storage Platforms bought the five parcels and will put up the new building....
The Roll Up: Weekly Self-Storage Development News 9.14.22
Spartan Investment Group, based in Golden, CO began an expansion (below) that will add about 31,700 square feet of climate-controlled storage and 12,940 square feet of non-climate-controlled storage at its FreeUp Storage facility in Huntsville, TX. That facility...
The Roll Up: Weekly Self-Storage Development News 9.7.22
TAC Pearl River LLC, a division of Ardent Cos. of Atlanta, GA, secured a short-term, $18 million building loan to put up a climate-controlled, 106,900-square-foot, 420-unit self-storage facility in Pearl River, about 31 miles north of New York City. It will be located...
The Roll Up: Weekly Self-Storage Development News 8.31.22
A Kmart store closed since early 2019 will become a self-storage facility in Allentown, PA. Devon Self Storage plans to use the existing 86,395-square-foot Kmart building at 1502 S. Fourth St. and also plans to build an estimated 37,000 square feet for a self-storage...
Basis Industrial Makes Two Florida Acquisitions Under New Subsidiary BaySpace
In an era when people are racing in and out of employment opportunities (see: “Great Resignation”), Florida-based Anthony Scavo has held just three jobs, including 26 years at Lefrak, which he joined at age 17 and where he moved up to senior managing director of...
The Roll Up: Weekly Self-Storage Development News 8.10.22
In Michigan, the Northville Township planning commission is considering ways to renovate a building to add about 28,000 square feet of self-storage at 807 Doheny St. Renovations would happen in the western part of the building formerly taken by the Jack Doheny Co....
SOLD! Weekly Self-Storage News Round Up 8.10.22
Wong Cubes LLC has purchased Aubin Lane Self Storage LLC for $1.25 million in Baton Rouge, LA. The facility is on Aubin Lane near the Cedarcrest Avenue I-12 overpass. Christopher DeCesare is the registered agent for the seller, Aubin Lane Self Storage LLC. Randy D....
The Roll Up: Weekly Self-Storage Development News 7.27.2022
U-Haul Moving & Storage of Daphne, AL is moving in now that U-Haul has acquired 4.12 acres east of U.S. Highway 98 and west of Old Spanish Trail. Its completion is set for 2024. It will have a three-story building with at least 700 indoor, ADA-accessible...
The Roll Up: Weekly Self-Storage Development News 7.20.22
Gantry, an independent commercial mortgage banking firm, secured $7.7 million of permanent financing for two self-storage facilities totaling 135,000 square feet of rentable space. The facilities are Storage Corner Group’s 60,000-square-foot Uptown Storage in Salt...
The Roll Up: Weekly Self-Storage Development News 7.13.22
JLL Capital Markets arranged $33.2 million in financing through SoundPoint Capital for Storage Post Self Storage’s new four-story, 2,370-unit self-storage facility at 620 Richmond Terrace in Staten Island, NY. SoundPoint is an alternative asset management firm based...
The Roll Up: Weekly Self-Storage Development News 5.18.22
Peak Management LLC of Nottingham, MD, shared its plans to build a three-story YourSpace Self Storage (below), on a commercial lot on Route 16, near Union Street Extended in Milton, DE, with the Milton Planning and Zoning Commission. The property currently is zoned...
The Roll Up: Weekly Self-Storage Development News 5.4.22
The notorious Dun-Roamin’ Ranch Motel, once known for being associated with drugs and crime, then demolished in 2019, will be replaced by Platinum Self Storage. Kilgore, TX-based Roberts and Hatchett Partnership owns the property at 2015 E. Marshall Ave in Longview,...
The Roll Up: Weekly Self-Storage Development News 4.27.22
Storage Cap Holdings LP, which is related to Winter Garden, FL-based Store Space Self Storage, plans to build a large self-storage facility at 205 Anchor Road on 6.85 acres in Seminole County near Altamonte Springs, FL called Store Space – Altamonte. It would have a...
The Roll Up: Weekly Self-Storage Development News 4.20.22
A former cattle pasture may become home to a three-story, 120,000-square-foot self-storage facility with retail space on 8.16 acres west of 30th Street East, south of 44th Avenue east and east of U.S. 301 in Bradenton, FL. The site would be next to Manatee Charter...
The Roll Up: Weekly Self-Storage Development News 4.6.22
Compass Self Storage reached a total of 100 locations (with 30 of them in Florida) when it opened a new property at 203 Neighborhood Market Road in Orlando, FL. It has more than 81,000 NRSF in a multistory, climate-controlled building that also has drive-up units. The...
The Roll Up: Weekly Self-Storage Development News 3.30.22
Chris Bornhoft, a commercial real estate broker, and his wife, Marianne, who is a realtor and broker at Windermere Manito, will break ground in April for Garage Lodge, a 23-unit luxury storage condominium complex at 1551 S. Deer Heights Road on the West Plains in the...
The Roll Up: Weekly Self-Storage Development News 3.23.22
Nabers Self Storage is coming to a 4-acre lot at 101 Industrial Parkway in Tehachapi, CA after its planning commission approved it. It will have about 900 storage units spread across 102,815 square feet. It will have both climate-controlled units and...
The Roll Up: Weekly Self-Storage Development News 3.16.22
True Storage completed a 455-unit self-storage facility in Warwick, RI. CubeSmart manages the 60,000-square-foot property, formerly a manufacturing facility for Interplex, a technology and engineering firm based in Singapore. True Storage bought the property in...
The Roll Up: Weekly Self-Storage Development News 2.23.22
The Delaware City Council approved West Delaware Storage LLC’s preliminary development plan request for a 101,200-square-foot facility on an 11-acre site on the south side of Pittsburgh Drive. The Delaware Planning Commission approved the project on Feb. 2. It would...
The Roll Up: Weekly Self-Storage Development News 2.16.22
In New York, the Yonkers Industrial Development Agency approved financial incentives for a $15.4 million CubeSmart self-storage project at 1060 Nepperhan Ave., to be built by KCT Inc., and preliminary approval for financial incentives to a $15.8 million self-storage...
The Roll Up: Weekly Self-Storage Development News 2.9.22
Alfred Hitchcock can relax: The Eastern Whippoorwill birds will be safe when Pro Self Storage expands its facility at 306 Concession 13 East in Midland, TX. Pro Self Storage hopes to add six buildings totaling 12 storage units to be placed in the rear of the existing...
The Roll Up: Weekly Self-Storage Development News 2.2.22
The Metro Entertainment Complex on Willow Branch Avenue near Post Street in Jacksonville, FL, former home of a LGBTQ nightclub, will be turned into a self-storage facility. Atlantic Self Storage, which owns about 50 self-storage spots in northern Florida, bought the...
The Roll Up: Weekly Self-Storage Development News 1.26.22
A self-storage facility with 110,000 square feet is coming to a Marrows Road industrial park. The New Castle County Council in Delaware approved the project at 1 Forge Drive in the Tralee Industrial Park. CubeSmart plans to knock down the existing warehouse and...
The Roll Up: Weekly Self-Storage Development News 1.19.22
A four-story self-storage building may be coming to the West Kendall area of Miami-Dade County in South Florida. Kendall Investors 172 LLC, based in Coral Gables, FL, filed a pre-application with county officials regarding a 1-acre site at the southeast corner of...
The Roll Up: Weekly Self-Storage Development News 1.5.22
A former Kmart building with approximately 108,000 square feet in Massillon, OH, will be converted into an indoor/outdoor Space Shop Self Storage. The Kmart closed in 2017. A new Chipotle on Lincoln Way East will be a main tenant of the 11.7-acre tract that is being...
The Roll Up: Weekly Self-Storage Development News 12.15.21
Americas Capital Partners, based in Coral Gables, FL, has filed a pre-application with Miami-Dade County officials that calls for a seven-story, 112,600-square-foot self-storage building, plus 13 parking spaces, on an 0.49-acre site at 2655 NE 186th Terrace in the...
The Roll Up: Weekly Self-Storage Development News 12.8.21
Store your stuff and take a puff? A new self-storage facility will also feature a cannabis retail, processing and grow facility as well as a new diner in a 90,000-square-foot development at 7733 E. Saginaw Highway in Lansing, MI. The $14 million project will have 656...
The Roll Up: Weekly Self-Storage Development News 12.1.21
InSite Property Group, based in Torrance, CA, acquired a 2.3-acre development site in Kapolei Business Park, on the island of Oahu, HI. InSite plans a three-story, 104,000-NRSF facility with more than 853 units, under the SecureSpace brand. The site is near Honolulu’s...
The Roll Up: Weekly Self-Storage Development News 11.17.21
One family soon may be operating competing self-store businesses along Big Bend Road in Tichigan, WI. The Waterford Town Board has been presented with two proposals to build more storage lockers in the area of Big Bend Road and North Lake Drive, an unincorporated...
The Roll Up: Weekly Self-Storage Development News 11.10.21
Two new self-storage facilities within a mile of each other between 41st and 47th streets are planned in Florida’s Indian River County and are undergoing county staff reviews. Indian River Motorhaus LLC at 2400 41st St. would have 104,705 square feet of parking and...
The Roll Up: Weekly Self-Storage Development News 10.27.21
Miami, FL-based Larkspur Acquisitions would like to rework the existing Shopko building at 5300 52nd St., in Kenosha, WI, into a 98,195-square-foot indoor self-storage facility. Its proposed name is Kenosha Self Storage. Preliminary plans call for 600 to 650 units and...