Shopping malls and other retail centers might be on shaky ground these days, but the ground at some of those developments is becoming valuable territory for self-storage. Chattanooga, TN-based mall owner CBL Properties Inc. (NYSE: CBL) is tapping into the potential of self-storage in a unique way. While developers across the country have purchased shuttered retail…

Self-storage developers in Denver, CO, already were dealing with a report that claimed the city is saturated with self-storage facilities. Now, the Denver City Council has tightened building restrictions on storage facilities with an unanimous May 20 vote to ban the construction of self-storage facilities within one-quarter mile of any RTD (Regional Transportation District) light-rail…

Bethesda, MD-based ASB Capital Management purchased two recently built StorQuest Self Storage facilities in Denver, CO, for a combined $36.5 million, according to BusinessDen. ASB affiliate 4501 Washington LLC bought the facility at 4501 N. Washington St. from Santa Monica, CA-based The William Warren Group for $19.8 million. The 77,500-square-foot facility sits on 0.9 acres. ASB…

Hines, which is best known for office projects and large mixed-use developments, will build several self-storage projects in Arizona. Potential locations include Tempe, Litchfield Park, Surprise, Scottsdale and Glendale. The company also is set to begin construction on Val Vista Self Storage, a 75,000-square-foot, approximately 510-unit site in Gilbert, AZ. It’s expected to be ready…