As more and more retailers find themselves retreating from brick-and-mortar spaces, self-storage developers are seizing the opportunity to build facilities in prime locations. Supermarkets, office supply, discounters and furniture stores are just a few of the empty big box stores that are getting a second chance as self-storage facilities. Meanwhile developers are bidding up prices…

Hollywood Investment Company purchased the 126,963-square-foot self-storage facility at 777 Panther Drive in Reno, NV for $10.9 million. The facility offers 790 units and is comprised of 22 single-story buildings (pictured above). The facility operates under the name Stor-All Self-Storage. Bobby Loeffler represented the seller, Stor-All Reno LLC. John Pinjuv of Avison Young represented the…

Orlando, FL-based Liberty Investment Properties is currently building a 90,000-square-foot self-storage facility near the The Mall at Millenia in Orlando. The property will offer a drive-thru bay and 24 hour access. The facility marks the 51st self-storage investment for Liberty, and the ninth Florida facility in its current portfolio. The facility will be managed by…

A portfolio of 13 facilities, spanning 700,000-square-feet in four states, was sold for nearly $100 million to an unnamed institutional joint venture. “A nearly $100 million transaction closing in the last days of the year is on par with previous year-end closing sprints.” said Aaron Swerdlin of NGKF Capital Markets in a press release. Swerdlin,…

Ladera Ranch, CA-based Strategic Storage Trust II completed the purchase of 11 self-storage facilities in Asheville, NC for more than $92 million. The portfolio spans a total of 553,500-square-feet and includes 4,850 units. “Asheville will provide a captive market for us. Many of the properties have expansion land that we plan on getting underway immediately,” said…

Colorado entrepreneur Devin Eldridge has unveiled a new peer-to-peer storage app, and he hopes to get self-storage operators on board as well. Stow, based in Fort Collins, envisions homeowners making extra income from a garage, basement, outbuilding, land or elsewhere on their property. “We want to prove it’s an effective way for people to find…

Costa Mesa, CA-based North American Self Storage Group have closed on a new development site at 9950 Mills Station Road in Rancho Cordova, CA near Sacramento. The company will convert the former envelope manufacturing facility (pictured at top) into a 97,350-square-foot self-storage facility. Construction is set to begin in March 2017, with an expected opening in September….