Super Space Storage Super Space Storage

In what might be the highest price paid for a self-storage facility in 2014, Public Storage recently bought a 160,000-square-foot storage facility in Sunnyvale, CA, for $40 million. The Silicon Valley Business Journal identified the seller as Highridge Partners, a commercial and residential real estate investment firm. The facility, at 875 E. Arques St., had…

Boxbee Boxbee

Storage-on-demand startup Boxbee has secured $5 million in venture capital to finance its expansion. Metamorphic Ventures, a New York City, NY-based venture capital firm, led the funding round. VC firms Floodgate and Northgate, along with an unnamed “home improvement giant,” also chipped in funding. In addition to entering new markets, Boxbee said it would use…

Nick Malagisi Nick Malagisi

Following tremendous growth this year, 2015 promises to be another solid year for the self-storage industry — with a catch. That’s the word from Nick Malagisi (pictured at top), managing director at Sperry Van Ness Commercial Real Estate and organizer of the New York Self Storage Association’s annual Real Estate and Finance Forum. The event will be…

DealPoint Merrill project DealPoint Merrill project

Real estate development firm DealPoint Merrill LLC plans to convert a former Walmart store in Joliet, IL, into an 865-unit self-storage facility. The Joliet City Council recently approved a special use permit for the conversion project (artist’s rendering at top). The 116,000-square-foot retail building, at 305 S. Larkin Ave., has been vacant for seven years….