Recent data indicates a still-healthy housing market, which should generally bode well for the self-storage industry as it looks toward 2020, although housing affordability and constrained inventory are causes for concern. The self-storage industry relies on people moving in and out of homes, often targeting new development close to new homes or apartment buildings. A…

The Hampshire Cos. purchased a brownfield redevelopment of a former industrial facility at 30 Sea Cliff Ave. in Glen Cove on Long Island, NY. There, the company has started building a 108,000-square-foot, 800-unit self-storage facility. It’s on the site of a superfund site that was vacant for more than 20 years. It’s scheduled for completion…

Public Storage plans to construct two new buildings, including a six-story self-storage facility at 880 S. Pickett St., at Burnside Place, in Alexandria, VA. Construction will begin soon; first, a demolition company must finish knocking down the former BoatUS Association building. There will be commercial tenants on the ground level. The project is near Aslin…

Ladera Ranch, CA-based Strategic Storage Trust IV Inc. purchased a 3,500-unit portfolio of four newly built Extra Space Storage-branded facilities in three East Coast states. The seller wasn’t identified. The purchase price wasn’t disclosed. The portfolio covers about 326,000 square feet on 14.6 acres. The facilities now operate under the SmartStop Self Storage brand. The…

With a new partner on the team, Columbia, SC-based Taylor/Theus Holdings Inc. aims to grow its self-storage portfolio to 40 to 50 facilities within the next three to five years through ground-up developments and acquisitions. Steve Moffat recently joined Taylor/Theus as its third partner after serving as director of real estate at Extra Space Storage….

Google’s grip on the marketing budgets of publicly traded self-storage REITs is tightening. During their third-quarter earnings calls, executives at the REITs collectively bemoaned the rise — in some cases a sharp rise — in their marketing expenses. Glendale, CA-based Public Storage reported the steepest climb about the REITs: Same-store marketing costs skyrocketed 69.5 percent…

Bradfordville Self-Storage, a three-story, 75,000-square-foot, climate-controlled storage facility is coming to 5.28 acres at 3805 Bradfordville Road in Tallahassee, FL. Frontage will be on Velda Dairy. The first floor will have 4,150 square feet of retail space. Also in Tallahassee: Uptown Self-Storage, 2781 Alexis Lane on Capital Circle NE, has begun Phase II and is adding another…

Although new supply has tamped down rents, it isn’t deterring self-storage owners and operators from mining for new opportunities in the sector. New deliveries continue to weigh on street rates, according to Yardi Matrix, producing a 2.5 percent year-over-year decline in street rates for standard 10×10 non-climate controlled space. Still, operators and investors with a…