In the self-storage business, 2020 could be the year of “Let’s make a deal” when it comes to newly built facilities. In recent months, executives at several self-storage REITs have signaled that some brand-new facilities could be up for grabs at potentially lower prices as their owners recognize that hoped-for financial projections are out of…

Metro Storage LLC opened new self-storage businesses in Line Lexington, PA, and Westhampton Beach, NY. The Line Lexington store, 4671 County Line Road, has two stories, 785 climate-controlled units and 79,383 rentable square feet. The Westhampton Beach facility, 105 Old Riverhead Road, is  three stories, and has 689 units and 77,000 rental square feet of…

Moose Crossing Storage Associates LLC purchased Moose Crossing Self Storage in Blakeslee, PA, from Lancaster, PA-based Gearhart Properties LLC for $3.96 million. The facility, on 4.9 acres at 321 Route 940, comprises 321 units and an apartment. The square footage wasn’t provided. Chuck Shields, a self-storage specialist at Radnor, PA-based Beacon Commercial Real Estate who’s…

A $20 million project underway in the Austin, TX, market serves as the springboard for what a real estate startup envisions being a national brand of high-end, for-sale storage condos. Construction is set to begin in January or February near the Austin suburb of Lakeway on XSpace’s first luxury storage condo project. The location is…

If village officials approve, a new project will bring self-storage, retail space, three stories of residential units and a 4,000-square-foot building that will become a brewpub to Tarrytown, NY. The project would renovate a 20,000-square-foot warehouse across from the Metro-North station at 29 South Depot Plaza. Source: River Journal Planned Frontera Real Estate in San…

red tape caught red tape caught

Elected officials in a town in western Wisconsin have put a different twist on how city governments across the U.S. are clamping down on self-storage projects. In late November, the City Council in Menomonie, WI (population 16,540) unanimously rejected a proposal to permit development of self-storage facilities with more than 200 units each. That departs…