Memphis-based self-storage construction lender Jernigan Capital announced that Kelly Luttrell has been promoted to the role of Chief Financial Officer effective May 3. Luttrell will replace William Drummond, who will serve as a consultant following his retirement. Luttrell joined Jernigan Capital as corporate controller in September of 2015. As CFO she will also hold the…

Strategic Storage Growth Trust Inc. recently purchased the newly converted 95,000-square-foot self-storage facility at 12321 Western Avenue in Garden Grove, CA for $18.4 million. The facility offers 900 storage units, as well as 59 RV storage spaces. The facility was recently converted from a former manufacturing building by Irvine, CA-based Progressive Realty Partners. Following the…

LSC Development LLC has won a “controversial” zoning case over its plans to build a five-story self-storage facility at 5150 N. Northwest Highway in Chicago’s Jefferson Park neighborhood. The approved plan calls for the demolition of an existing warehouse building on the site, followed by construction of the new facility. Dozens of residents spoke out against…

Valley Storage Co. purchased the 122,239-square-foot self-storage facility at 34425 Lorain Road in North Ridgeview, OH for $3.8 million (pictured at top). The seller, Fields Stor-All LTD, was represented by Ryan Clark of SkyView Advisors. Valley Storage is owned by Todd and Tina Snook, and has 15 locations throughout Maryland, Ohio, Pennsylvania, Virginia and West…

National Storage Affiliates Trust had plenty to boast about at its year-end report–revenue jumped about 66 percent and the company expanded its portfolio by more than a third during 2016. The real estate investment trust also announced another milestone, just before releasing its year-end earnings report on Feb. 28. The company signed up its eighth…

Charity Storage was founded in 2012 by veteran self storage operators, Lance Watkins (StoreLocal, Storage Outlet) and Barry Hoeven (US Storage Centers, Westport Properties). The goal is to turn abandoned and donated goods into funds for charity through Charity Storage unit auctions. Since inception, Charity Storage has given back nearly $330,000 to over 220 local,…

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As the development cycle kicks into the next gear, Jernigan Capital is rapidly accelerating its self-storage construction loan activity. The company has already closed on $105.6 million in new development investments during the first 60 days of 2017, and has a pipeline of in place of $800 million of additional investments, according to its recently…