Demand for self-storage is growing in the Inland Northwest, which includes Spokane County, WA and Kootenai County, ID. Chester Self Storage in Spokane Valley has rented out almost all of its 350 units and plans to build another 70. “In the past 2 and a half years, growth has been exponential,” said Todd Beadle, facility…
WCSS Vashon Island 516 LLC, an affiliate of Everett, WA-based West Coast Self-Storage Group LLC, purchased Island Security Self Storage in Vashon, WA, from Vashon-based Point Robinson Properties LLC for $9 million. The facility is at 10015 SW 178th St. The amount of square footage and number of units weren’t available. Mike Patterson of Commercial Realty…
A Tampa, FL-based real estate investment and development group has turned to its backyard to launch a self-storage business that already boasts a pipeline filled with projects totaling $64 million. Broome Storage LLC, an affiliate of Broome Capital LLC, has six self-storage projects in the works in the Tampa-St. Petersburg area, Jordan Farrales, the firm’s…
Life Storage and Union Realtime, a self-storage research firm, are teaming up to collect as much real-time data as possible on newly developed self-storage facilities across the nation, a move they say will help investors and others make better decisions when buying, selling or building new facilities. Earlier this month, the New York-based Union Realtime…
The Jenkins Organization Inc. announced it will build a new self-storage facility in the East Downtown area of Houston, TX. It will have 108,000 square feet and 830 units, and is scheduled to open this summer. The site is located to serve Downtown, East Downtown, Eastwood and the University of Houston. The Houston-based company is…
Katy, TX-based Pinnacle Storage Properties LLC purchased Storage House of Texas in Garland, TX, from an unidentified seller in Rockwall, TX. The purchase price wasn’t disclosed. The 3.9-acre property was listed at $5.3 million. The facility, at 3402 Bobtown Road, has 480 units in over 55,000 net rentable square feet. It will be rebranded as…
Houston, TX-based commercial real estate giant Hines Interests LP, known primarily for its office and mixed-use projects, is jumping into the self-storage business. Hines already has three self-storage projects underway in the Phoenix, AZ, metro area — one each in suburban Gilbert, Litchfield Park and Tempe — and is considering projects in the Phoenix suburbs…
For the first time since 2013, the average price of a self-storage unit in Illinois has increased above $81 according to recent data from SpareFoot. In 2017, the average price was $81.34 which was up from $79.71 in 2016, and just under the highest average so far this decade—$81.65. Since 2010, prices increased in the…
