U-Haul plans to convert a former Toys ‘R’ Us into a self-storage facility at 2115 West St. in Annapolis, MD. The closed store has 41,440 square feet. U-Haul Moving & Storage of Annapolis, which is operating from a temporary space, plans to reopen in the new space in 2020, using about 10,000 square feet. U-Haul has 35 company-owned and operated stores in Maryland.

U-Haul to convert former Annapolis Toys 'R' Us into self-storage facility https://t.co/2bVCGfdRBL pic.twitter.com/VVfCclaAxL

— Baltimore Business (@BaltBizOnline) April 26, 2019

Source: Baltimore Business Journal 

Planned

Storage Place LLC wants to build two 15,000-square-foot self-storage buildings on Route 1 in Charlestown, RI. The Planning Commission took testimony at a recent public information meeting. The facility would be built on a 2.8-acre parcel on land purchased from Charlestown Willows Inc. There is disagreement over expectations because the project falls within a Groundwater Protection District and thus subject to more regulation. The meeting was continued until May 22. Source: The Westerly Sun

One up, one down for A to Z Self Storage at 1340 Tatamy Road in Palmer Township, PA. The Board of Supervisors approved a conditional-use plan for the facility, which is owned by Fenstermaker Enterprises LLC, but hesitated about offering the usual deferrals for curbing, sidewalks and tree plantings on the frontage portion of the property. Dean Fenstermaker seeks to build two two-story storage buildings, one 70 x 100 feet at the rear of the property and the other 50 x 250 feet, which would replace the front parking lot now used for vehicle storage. The supervisors approved the buildings request and tabled the sidewalks deferral until their June 25 meeting. Source: 69 News, WFMZ-TV

A former Kmart store at 4151 Plainfield Ave. NE will become a self-storage facility in Plainfield Township, MI, following approval by the township’s board. The plan is to use the back 70 percent of the building for storage and the rest of the space for commercial warehouse. The Kmart building has about 100,000 square feet of space. A rezoning to Planned Unit Development was needed because the site’s commercial zoning did not include self-storage as allowable. The PUD plan makes the self-storage use compatible with the area. Source: Mlive.com

Completed

Meathead Wine Storage, which is part of Meathead Movers, opened in San Luis Obispo, CA. It has 427 units, is located at 4468 Broad Street, Suite 110, and will go along with the 92-locker wine storage facility that opened in 2014 on South Higuera Street. Its features include redundant and monitored temperature and humidification systems, and backup power. It will hold a grand opening form 5-7 p.m. May 3. Source: A-Town Daily News

In April, David Postar opened the fourth location of Discount Storage, this one at 14416 Indiana Ave. in South Lubbock, TX. It has 450 units. He began building, designing and operating self-storage properties more than 24 years ago. Source: Lubbock Avalanche-Journal

Yellow Door Storage, which has 890 units, has opened at 812 Crawford Road, next to the new Wise Health Emergency Center and urgent care facility, in the Argyle, TX area. The three-story, 77,000-square foot building has eight drive-up storage buildings behind it. Denton-based NorthBridge Investments picked the location for the development. Source: The Cross Timbers Gazette

The post The Roll Up: Weekly Self-Storage Development Round Up 5.1.19 appeared first on The SpareFoot Storage Beat.

In Lorain, OH, the Zoning Board of Appeals approved a conditional-use permit that would enable TDI Lorain LLC to install about 300 storage units in a section of Lorain Plaza Shopping Center, 1089 Meister Road. It will be called Defender Self-Storage.

“I think we’ve seen (this kind of project) in other shopping projects where retail has shifted and owners are trying to find ways to fill that space and bring some services to the community,” said Steve Weisbrod, vice president of business development with Kossman Development Co., which owns the shopping plaza.

Source: The Chronicle

Planned

Stein Investment Group has assembled six properties – including four single-family homes in the Fort Hill subdivision that will be demolished, plus a vacant lot – and plans to build a self-storage facility called Glenside Lock Box Self Storage on a 1.9-acre parcel at Glenside Drive and Forest Avenue in Richmond, VA. The purchase cost was $1.625 million. David M. Smith of Cushman & Wakefield | Thalhimer handled the sale for the sellers: Glenside Drive LLC, Reynolds Holdings LLC, Thomas Pruitt and H&R Gary LLC. Source: RVA Hub 

Nuvo Development is developing a self-storage facility on a 97,000-square-foot land parcel at 20701 Route 19, Cranberry Township, in Butler County, PA. The boutique mortgage brokerage firm Talonvest Capital Inc. of Irvine, CA, put together more than $3 million of joint venture equity via its partnership with Clark Investment Group for Nuvo, and also obtained a $7.8 million non-recourse construction loan from a Midwestern bank.

Diamond Point Development LLC, working with Castle Hill Investors, plans to start building a self-storage facility at 6434 Covington Highway, Lithonia, GA, which is in the metro Atlanta region, in the second half of 2019. It will have 132,355 rentable square feet and 1,200-plus units, and is scheduled to open in fall 2020. In Georgia, DPD currently is developing self-storage sites in Marietta, Cascade Road, Fayetteville and East Point.

Metro Self Storage of Lake Forest, IL, will build a 138,000-square-foot, 1,084-unit, three-story self-storage facility at 3021 124^th Ave., located in the southwest corner of Highway 10 ad Main Street in Coon Rapids, MN. The project has 2.73 acres of land. Metro Self Storage operates more than 125 properties in 12 states. The project was submitted for approval before Coon Rapids implemented a moratorium on self-storage projects; the city plans to upgrade its design and location standards for self-storage because of growing demand. Source: Finance & Commerce

The Fayetteville Planning and Zoning Commission unanimously approved a conceptual site plan for a three-story, 104,850-square-foot self-storage facility on a 3.1-acre property on Georgia Highway 54, west of Brandywine Boulevard in Fayetteville. The approval carries a condition: The applicant is to work with city planning staff to make sure that elevations will have the percentage of brick that commissioners agreed to. Source: The Citizen

Developer Eran Epstein, owner of E Square Capital, has asked the city of Buffalo, NY, for tax breaks for its planned 135,000-square-foot facility at 57 Tonawanda St. – which would include apartments and 20,000 square feet of self-storage – as part of its adaptive re-use of the 1915 Fedder Radiators structure. He and partner Chris Jacobs, a Colorado developer, have asked the Eric County Industrial Development Agency for $97,000 in sales tax breaks and $875,000 in mortgage recording tax breaks. They also will seek a property tax break through Buffalo’s 485-a program. Source: The Buffalo News 

A self-storage development site sold for $1.28 million at Camelback Road and the loop 101 in Glendale, AZ. An unnamed developer plans a three-story building with more than 700 climate-controlled units. Kyle Topper and Jeff Gorden of Eagle Commercial Realty Services arranged the sale of vacant land; Eagle Commercial represented the buyer. Topper and Gorden are the Arizona broker affiliates of the Argus Self Storage Sales Network, based in Denver.

Under construction

The expansion of Montgomery Self Storage NY is expected to finish this month, adding 170 indoor, non-climate-controlled units. The family-run facility is located at 9 Factory St. in Montgomery, 10 miles from the Newburgh Airport. Source: MENAFN

Groundbreaking takes place Friday, May 10. for the new Storage Star Napa Airport self-storage facility, owned by Sacramento- and Napa, CA-based FollettUSA/Storage Star. The facility features 100 percent clean solar power, and unit monitoring and unlocking from a smartphone as among its features. It will have 618 units and is expected to open July 1, 2020. Thomastown Builders is the project contractor. Storage Star owns and operates self-storage facilities in the Rocky Mountain Region and Texas, and has a combined 12,000-plus units and 1.6 million rentable square feet. Source: Yahoo! Finance

Completed

Highland 9@ Self Storage and Wine Cellar, 3659 Route 9W, Highland, NY, will hold a ribbon-cutting ceremony at noon Friday, May 10. Source: The Daily Freeman

Storage Authority held a ribbon-cutting event on April 25 to celebrate its opening at 6615 N. Church Ave. in Mulberry, FL. It includes parking for RVs and boats. Source: The Ledger

Rejected

Voters at a town meeting in Hopkinton, MA, rejected developer Paul Mastroianni’s request to build a self-storage facility in the Industrial A zoning district on South Street. Source: MetroWest Daily News

The post The Roll Up: Weekly Self-Storage Development Round Up 5.8.19 appeared first on The SpareFoot Storage Beat.

Storage Deluxe plans to build a nearly 220,000-square-foot self-storage building after buying a one-story warehouse at 74 Bogart St. in East Williamsburg, Brooklyn, NY. The company bought the warehouse for $45.5 million and plans to demolish it, then build a seven-story facility with about 4,000 units. Storage Deluxe said it will spend $50 million-plus on the build. CubeSmart will manage the site, scheduled to be ready by fall 2021.

Also, Storage Deluxe just finished building a nearly 250,000-square-foot site at 2880 Exterior St. in the Marble Hill section of the Bronx in New York City. CubeSmart is operating that facility.

Source: Crain’s New York Business

Planned

The city of Ocoee, FL, approved a final site plan for a three-story, 102,600-square foot facility at the Fountains West development. Summit Self Storage will go up on 11.73 acres on Lot S of the development. As part of the project, the city also approved changing the land-use designation of a 5.35-acre parcel on the west side of Lot S from low-density residential and light industrial to commercial. Source: West Orange Times & Observer

Hines, the international real estate firm, plans to build two self-storage units in the Valley in Arizona: an 83,110-square-foot facility with 640 units near Priest Drive and Warner Road in Tempe and a 96,000-square-foot site with 673 units in Litchfield Park, near Camelback and Dysart roads. Construction begins in June and is expected to finish by year-end. CubeSmart will manage both sites. Hines’ inaugural self-storage site in Arizona opened in February near Val Vista Drive and Queen Creek Road in Gilbert. Source: KTAR News

A 12-building, 150,000-square-foot self-storage facility with space for RVs and boats, an RV park and business flex space have been proposed by Scott Lepman Co. — doing business as Glorietta Bay LLC – for Philomath, OR. A public hearing to consider the proposal, scheduled for May 20, was postponed because of traffic study issues. Source: The Philomath Express

In Michigan, the Union Township Board of Trustees granted a special-use permit to expand the McGuirk Mini Storage Inc. on S. Lincoln Road  – as long as the Union Township Planning Commission approved the site plan, which it did on April 16. Source: Morning Sun

In Arizona, the Surprise Planning and Zoning Commission approved plans to transform a 55,000-plus-square-foot Safeway building that’s been vacant since 2017 into a two-story self-storage facility. It’s located in the Grand Village Plaza Commercial Center on Grand Avenue. The City Council next will consider the matter. Source: YourValley.net

In California, the Tulare County Board of Supervisors approved several actions that will enable the building of a new Derrel’s Mini Storage south of avenue 264, just north of the city limits. The site will be Derrel’s 60^th location in the Central Valley and Central Coast, with 58 operating from Bakersfield to Sacramento and in the San Luis Obispo area, plus another is about to open. Source: The Foothills Sun-Gazette

Completed

StorQuest Self Storage opened a new facility at 7200 E. 36^th Ave., minutes from the Rocky Mountain Arsenal, in Denver, CO. It has 600 climate-controlled units and 56,700 net rentable square feet. The William Warren Group Inc. is the owner.

DEStorage.com has completed expansion at two Delaware locations: It added 67 units for a total of 553 at 19659 Blue Bird Lane in Rehoboth, and added 104 for a total of 416 at 28862 Dupont Blvd. in Millsboro. In Rehoboth, the new buildings are solar-powered, offer climate-controlled units and enable drive-up capability. Source: Cape Gazette

Boardwalk Development Group opened a multistory, 100,000-square-foot, climate-controlled self-storage facility at 185 Woodstock Parkway in Woodstock, GA. Woodstock planning commissioners and city council members twice rejected the project, but approved it on the third vote. The grand opening will be held Friday, May 17. CubeSmart is managing the facility. Source: Cherokee Tribune & Ledger-News

Canyon Self-Storage will hold a grand-opening event at noon Thursday, May 16, for its new facility at 3663 U.S. Highway 6 in Spanish Fork, UT. It has 546 units, and also can store most RVs and boats. Source: Daily Herald 

The post The Roll Up: Weekly Self-Storage Development Round Up 5.15.19 appeared first on The SpareFoot Storage Beat.

Coda Management Group plans to build a self-storage facility at 535 E. Third St. in the Webster Station neighborhood of Dayton, OH. Coda affiliate Platform III Third LLC purchased a former warehouse of 86,640 square feet dating to 1913 that sits on the site. Scott Krone, Coda’s managing partner, hopes to finish the build by late 2019 or 2020. Source: Dayton Business Journal

Planned

DealPoint Merrill, owner of a self-storage and retail facility on 16.8 acres outside of Sacramento, plans to renovate an adjoining parcel. After renovation, the self-storage facility will have grown from 685 climate-controlled units to 1,616. CubeSmart is the operator. There also will be 46,904 square feet of retail space. The existing buildings were built in 1991. A portion was renovated in 2014 and now, a $17.4 million bridge loan arranged by Cronheim Mortgage will help start the remaining portion. Source: REBusinessOnline

Under construction

Building began on the Storage Star self-storage facility – which will be powered by 100 percent renewable energy – in Napa, CA. The site is at 300 Devlin Road and is owned by Sacramento, CA- and Napa-based FollettUSA/Storage Star. Thomastown Builders of Roseville, CA, is handling the construction. Source: North Bay Business Journal

The Jenkins Organization of Houston, TX, has begun building a large self-storage facility, called Bergstrom Storage, at 530 S. Highway 183 in southeast Austin, TX. It will have 238,000 square feet and 1,090 units, with both climate- and non-climate-controlled units, and room for boat and RV storage. Jenkins is busy elsewhere in Austin with five new development projects and two expansion sites. The self-storage and RV park owner, development and management company is operating 60-plus sites in Texas, Oklahoma, Missouri, Minnesota, Virginia and Louisiana.

Water Valley Vaults has begun building its large units for boys with toys, as the sites are designed for customization, storage, small-business use and, yes, man caves in Northern Colorado. Boats, RVs and collectible cars are among the expected storage items. Pre-sale unit prices range from $76,000 to $338,000. After that, prices will start at $81,000 and go to $363,000. The smallest unit will be 480 square feet and the largest 2,560 square feet.

Refinanced

Talonvest Capital Inc. of Irvine, CA, arranged a $78 million refinance bridge loan for eight Metro Self Storage properties, newer sites with a combined 630,000 net rentable square feet. The sites are located in suburban Chicago, IL (five properties), New Jersey (two) and Pennsylvania (one). Five of the properties opened between June 2017 and November 2018, and the other three facilities have received their Certificate of Occupancy. Talonvest is a boutique real estate firm that provides advisory services to self-storage and commercial real estate investors, owners and developers nationwide.

Fantini & Gorga, based in Boston, MA, arranged $1 million in first mortgage financing for Crows Run Self Storage along PA-65 (Ohio River Boulevard) in Conway, PA, about 30 miles from Pittsburgh. Crows Run, built 10 years ago, has 332 units, including 61 outdoor spaces for car, RV and boat storage. Source: Boston Real Estate Times

Completed

Safeguard Self Storage has opened an 874-unit, 70,855-square-foot facility in Edison Park in Chicago, IL, about eight miles west of its Uptown facility and about six miles northeast of its Des Plaines, IL, location. Safeguard has another 11 developments underway in Florida (five), New York (four), New Jersey (one) and Louisiana (one). Source: Virtual Strategy Magazine

The post The Roll Up: Weekly Self-Storage Development Round Up 5.22.2019 appeared first on The SpareFoot Storage Beat.

Two vacant buildings in Saginaw Township, MI, will be turned into self-storage facilities.

In March, Star Saginaw LLC bought the former Value City furniture store building (140,000 square feet) on Bay Road, which has been vacant for about 10 years. Across the street is a CubeSmart site that formerly was a Kmart.

Also, Storage of America has bought another former Kmart building on Gratiot Road, and will create a self-storage business there.

Source: WJRT

Planned

Newman Realty Partners LLC received its final site plan approval to build an 87,692-square-foot, four-story, climate-controlled self-storage facility at NEC Commercial Boulevard and Rock Island Road in Tamarac, FL. The number of units hasn’t been determined. It was the company’s second Florida project, with a third coming up in Port Saint Lucie.

We're expanding! Keep an eye out for our Peter's Township location – opening in 2020. https://t.co/1JmWafvhpp

— Guardian Storage (@GuardianTweets) May 31, 2019

Guardian Storage has added five self-storage facilities in the last two years, and its newest one is in Peters Township, PA, scheduled to open in June 2020. It’s located at 2670 Washington Road, and will have 117,870 square feet and 739 units, both climate- and non-climate-controlled. Guardian Storage spent $14.5 million on what will be a four-story facility sitting on 5.1 acres. ARCO/Murray is the builder and Desmone Architects is the designer. Source: The Almanac

Dave and Ann Brach plan to open their third self-storage in mid-to-late June, Brach’s Interior Storage will have two stories, 173 climate-controlled units and 20,000 square feet at 2497 Power Road, Unit 20, in Grand Junction, CO. It will be across the street from Brach’s Self Storage. Brach’s Mini-Storage is at 411 Brach Drive. Source: The Daily Sentinel

Los Angeles, CA-based Trojan Storage purchased a parcel in Glendale, CA, where it plans to knock down the existing structure and build a 220,000-square-foot self-storage business. The company paid $9 million for the 1.9-acre property at 620 W. Elk Ave. The Glendale site will be the company’s second property in the Tri-Cities; the first one is at 101 E. Linden Ave., Burbank, CA. Source: San Fernando Valley Business Journal

Completed

SoBro Self Storage will hold a ribbon-cutting ceremony from 2-4 p.m. June 11 for its new facility at 825 3^rd Ave. South in Nashville, TN. It has 213 climate-controlled units and 19,088 square feet. Absolute Storage Management operates the facility, one of its eight in the Nashville area.

Extra Space Storage will manage a new storage facility owned by Johnston Road Storage Owner LLC and located in Charlotte, NC, close to the Highway 51 intersection and next to Charlotte Catholic High School. The facility, which opens this month, has 700 units and covers 114,000 square feet. Overcash Demmitt Architects designed the facility.

Storage Express opened its 111^th property, a new self-storage facility in Indianapolis, IN. It’s located at 510 E. Thompson Road (at the US 31 exit off I-465 on the Southside of Indianapolis), has 55,000 square feet and 360 units, and is the company’s 10^th location in Indianapolis’s metro area.

The post The Roll Up: Self Storage Development Round Up 6.5.19 appeared first on The SpareFoot Storage Beat.

A mixed-use project with apartments and self-storage – the latter with a four-story building with 100,000 square feet – could be coming to Willard Road in Norwalk, CT, as Frontier Communications wishes to move its vehicle dispatch center off of Willard Road to the former FedEx site on Meadow Avenue. Amendments to the city’s zoning regulations would be needed to move the mixed-use project forward.

EDG Properties is buying Frontier’s former site off of Willard Street, and attorney Adam Blank said they’re seeking to update regulations to allow for self-storage facilities in the city’s Business 2 zone on sites larger than 7 acres and near one of the city’s main roads, such as Connecticut and Westport Avenue. Source: The Hour

Planned

The prospective new owners of the plaza off Clay Pond Road, once home to a Grand Union grocery store, plan to build a self-storage facility at the Bourne, MA site. Clay Pond Acquisitions LLC has a purchase-and-sale agreement for the site, currently owned by the Claybourne Trust and run by Winslow Property Management in Lexington, MA. Source: The Bourne Enterprise

Green Oak Township, MI officials and Kril Properties project leaders are discussing building a multi-use and storage development to be built in three phases. It would go up on a nearly 13-acre site. Phase One would have 11,463 square feet that could include office, shop or warehouse space. Phase Two would have four 3,000-square-foot buildings for self-storage plus outdoor RV storage. Phase Three would have a 5,000-square-foot building surrounded by a drive and parking spaces. Source: WHMI FM

Quincy, IL, may become home to two new self-storage facilities after the city council approved a special permit. They would be located at 6411 Broadway and 2500 N. 24^th St. An ordinance will be written, then have three readings for the council’s final approval. Source: KHQA

Under construction

Jumbo Self Storage LLC is building a three-story, 120,000-square-foot facility with 1,000 temperature-controlled units at 54 Montvale Ave in Stoneham, MA at the former Montvale Plaza, located off of Route 93. The facility will be called Stoneham Self-Storage. Integrated Builders is the construction manager. Source: nerej.com

Summit Self Storage, based in Augusta, GA, is building a new facility at 4042 Highway 17 in Mount Pleasant, SC, close to Awendaw. In 2017, the company paid $1.39 million for the 7.4 acres that will be home to the new facility. Source: The Post and Courier

Completed

Owner Aspire Development LLC has opened Envy Self-Storage and RV at 18612 S. Lindsay Road in Gilbert, AZ. The two-story building has more than 70,000 square feet for 600 units. In addition, there is 76,000 square feet of covered and open RV and boat storage, with 160 spaces.

The post The Roll Up: Self Storage Development Round Up 6.12.19 appeared first on The SpareFoot Storage Beat.

GreenSpace plans to build a 100,000-square-foot self-storage facility that uses surplus shipping containers in Pearland, TX, on a 2.4-acre parcel it recently purchased. The project will be its second facility in Pearland, completing its first last year.

The company said it plans to develop 50 storage facilities in the next seven years. “We are aggressively seeking properties that make sense for self-storage developments throughout the United States,” said David Ledoux, GreenSpace co-owner. “This site made sense for us due to the strong growth trends in the area and the demand for storage units in the local community.”

Source: Chron.com

Planned

Coda Management Group bought an empty building at 535 E. Third St. and plans to file a permit that would allow for it to be converted into a self-storage facility, in the Webster Station neighborhood of Dayton, OH. Coda, an Illinois company, paid $1 million for the building. Renovation needs include a new roof, windows, fire suppression and electrical systems, according to Scott Krone, managing partner. Source: Dayton Daily News

Construction begins in September for a three-story, 116,237-square-foot, 852-unit self-storage building on the west side of Brown Park Drive, north of Cemetery Road, in Hilliard, OH. It will take 12 to 18 months to complete. The facility  has not yet been branded. Source: This Week

Exit 9 Storage, 2 Crossing Blvd. in Clifton Park, NY, will build a three-story, 350-unit self-storage building at 101 Sitterly Road. That new facility would nearly double the size of Exit 9 Storage, which currently has 415 units. Wine storage will be one of the features of the new building. Owner Equinox Cos. of Albany, NY, bought 1.52 acres for $740,500 in August 2018 for the expansion. Construction is tentatively scheduled to begin in the fall and finish in spring 2020. Source: The Daily Gazette

A 134,344-square-foot building – formerly a Sam’s Club—at 2649 Erie Boulevard East in Syracuse, NY will soon become a CubeSmart self-storage facility. The building sits on 14.2 acres. Sam’s Real Estate Business Trust, represented by Bill Anninos of CBRE/Syracuse and Fred Burstein of CBRE/Long Island, sold the site for $5.675 million to an unspecified buyer. The site also has room for about 30,000 square feet of retail space.  Source: CNYBI

Under construction

Storage Star has begun work on the first new storage facility in 20 years in California’s Napa region. Storage Star-Napa Airport will have 618 units. Source: Commercial Property Executive

Dominion Self-Storage has begun building a self-storage center in the master-planned community of Eastmark in Mesa, AZ. It’s within the Point at Eastmark, a major commercial development at the corner of East Point Twenty Two Boulevard and South Signal Butte Road. The 81,000-square-foot facility will sit on just under 2 acres and have more than 500 units. Phil Gollon of ARC Services Inc. designed the building and Double AA Builders LTD of Scottsdale, AZ, is the general contractor. 180 Self Storage LLC will manage the facility.

Completed

U-Haul Moving & Storage of McDonough has opened at 2055 Avalon Parkway in McDonough, GA. It has 1,074 units, including 730 that are climate-controlled. The three-story building has 87,558 square feet. It also has 201 outdoor units, 155 covered RV storage spaces and an RV dump station. Source: Yahoo! Finance

Simply Stor-It Longview opened with 566 units at 1100 McCann Road, Longview, TX, formerly the site of an 105,000-square-foot Kmart, which closed in March 2016. Boone & Boone Construction of Tyler converted the building into self-storage. Source: Longview News-Journal 

The post The Roll Up: Weekly Self-Storage Development Round Up 6.19.19 appeared first on The SpareFoot Storage Beat.

U-Haul is bringing the party to Marietta, GA for the Fourth of July. The company is holding a grand opening of a new facility it converted from a midcentury Chevrolet dealership. The dealership closed in 1988 and variety of other tenants moved in and out until U-Haul purchased the property in 2017.

The facility has been outfitted with 400 self-storage units. It is located at 900 Roswell St., along the route of the annual Marietta Fourth of July parade. U-Haul will be serving free lunch and giving out prizes to celebrate the holiday.

Planned

And in other U-Haul news, the company will convert the former home of biotech firm Genzyme into a 600-unit self-storage facility in Framingham, MA. U-Haul bought the 93,000-square-foot building at 15 Pleasant Street Connector for $4.4 million in April. Genzyme left it in 2012. U-Haul also is renovating the former Melville Shoe Corp. factor in Worcester, MA. Source: Worcester Business Journal

But wait, there’s more U-Haul. U-Haul is converting a former Kmart store it purchased into a new self-storage facility at 7425 E. Washington St. in Indianapolis, IN. The 178,963-square-foot store will be outfitted with 598 indoor self-storage units with climate-control options. The building has been empty since 2014. Source: PR Newswire

Under construction

Ballinger Self Storage, located at 20029 19^th Avenue NE in Seattle, WA is nearing completion. The newly constructed four-story storage facility will offer 788 storage units.

Simply Self Storage is building a new facility at 13461 Rosecrans Avenue in Santa Fe Springs, CA, which is part of the Los Angeles metro area. Broker Stephen Grossman arranged the sale of the site to Simply. The completed complex will offer more than 1,000 storage units covering approximately 150,000 square feet of net rentable space. It is scheduled to open this summer.

The Branchburg, NJ, zoning board of adjustment approved a plan by Cyzner Properties to convert the 3421 Route 22 east building, which is 40 years old, into a self-storage facility. The building was the former home of Sun National Bank. Plans include 1,000 storage units – including some for wine storage — plus 400 spots for RVs, boats and other vehicles. Source: my central jersey

The post The Roll Up: Weekly Self Storage Development Round Up 6.26.19 appeared first on The SpareFoot Storage Beat.

New self-storage development has slowed in some key markets across the country after years of rapid expansion. Spurred by high demand and an influx of institutional investment dollars, record levels of construction have led to a surge of new storage space across the country over the last five years.

But most experts are not quite ready to declare a full-fledged national slowdown in the development of new self-storage facilities, saying some areas of the country, such as the Pacific northwest, are still growing like gangbusters while other regions, such as the Northeast, are seeing a steady expansion of new facilities.

Dip in spending

Data from the U.S. Census Bureau seems to suggest that a slowdown of some sort may be under way. Construction investments dipped in the months of April, March and February, compared to the same months in 2018.

The declines weren’t huge– April’s construction spending was $426 million, down from $480 million nationwide the year before – but it was the first three-straight-months dip in investments in years and anecdotal evidence suggests it may be tied to a significant drop off in new construction in places such as Texas and Colorado.

“The slowdown has been very pronounced here,” said Bill Bellomy of Bellomy & Co., an Austin, Texas-based self-storage brokerage firm.

Bellomy estimated that the number of new-construction deals being proposed in Texas is down by 40 to 50 percent, thanks largely to past overbuilding in key state submarkets that have slowed the lease-up rates for new facilities.

“Deals just don’t pencil out like they used to a few years ago,” Bellomy said of the current rate of returns in Texas.

Ginny Sutton, executive director of the Texas Self-Storage Association, said the major metro markets in the Lone Star State – Austin, Dallas-Fort Worth, Houston and San Antonio – have all seen a pull-back in new construction.

“It’s slowed for sure in the major markets,” she said, blaming the “flurry and onslaught” of past new developments that have flooded parts of the state and driven down lease prices.

Pulling back the reigns

In Colorado, Jackson White, manager of Sussex Investments LLC and president of the Colorado Self-Storage Association, stressed he couldn’t speak on behalf of his trade association. But he said he’s personally observed a major pull back in new developments in some areas of Colorado, such as in downtown Denver.

Again, the problem: Recent overbuilding. White said Colorado’s legalization of marijuana in 2015 led to a flood of people moving into the state, increasing the demand for self-storage and encouraging new developments.

“It attracted way more investors and developers than we’ve ever had,” he said. But the population growth – and thus the demand for self-storage – has softened lately in Colorado, leading to a “general slowdown,” said White.

Pockets of activity

In a new report, Yardi Matrix, a commercial real estate data and research firm, says Charleston, South Carolina has also seen its once red-hot self-storage market cool in recent months.

But Yardi Matrix, in its June industry report, also notes that new developments, either under construction or in the planning stages, are still on track to add about 9.5 percent to the overall supply of self-storage in the nation.

Indeed, data suggests that metro areas such as Portland, OR, and Seattle and Nashville, TN are picking up the slack from other markets.

Portland’s properties under construction or in the planning stages were up 27.7 percent on a month-over-month basis, Yardi reports, while Nashville was up 22.7 percent and Seattle was up by 21 percent. In all, about one-quarter of the major markets tracked by Yardi saw an increase in new developments during the spring months.

John Bull, owner of John Bull Builders LLC in Portland, said he sees no slippage in his region. “There’s a lot of people out there with money,” he said. “The demand is still there for more.”

Looking ahead

Caesar Wright, head of Mako Steel, a California provider and installer of steel frames for self-storage facilities, says he’s also seen no construction let up in the Golden State. “My work has been steady and the pipeline looks good through 2020,” he said.

R.K. Kliebenstein, vice president of acquisitions at Metro Storage, said his national firm is doing quite well across the board, though he noted some markets are stronger than others.

Marc Boorstein, a partner at ML Partners at Chicago, said total construction in the U.S. may well be up in 2019, pointing to a recent KeyBanc Capital Markets report that says new facility openings could hit an estimated 630 this year, up from 573 facility deliveries in 2018.

Still, Boorstein said he’s convinced something is stirring out there – and it all points to a possible national slowdown. He said he recently surveyed 25 of his firm’s self-storage clients and “all of them” reported a new-development slowdown, citing increased competition, rising construction costs and a tightening lending market.

“This is the first time I’ve seen this in years,” he said. “Maybe this indicates we’ve reached a peak. I don’t know. We’ll have to see. There’s still building going on out there, but it appears to be slowing.”

The post Has self-storage construction finally peaked? appeared first on The SpareFoot Storage Beat.

It’s a particularly hot time in Northeast Florida these days for the self-storage industry, with more than a dozen facilities proposed or under development.

Scherer Construction alone is working on seven such projects.

“Both our youngest and oldest adult populations are in a transitional state,” said Michael Biagini, vice president at Scherer. “The younger is renting at various locations over time with no permanent place. The older is downsizing and not sure what to do with the stuff they can’t get rid of yet.”

Developers like the projects because of reliable return, low operation and maintenance costs, he added.

Cities such as St. Augustine, Blanding, Herlong and Flagler Center are in on the action.

Read on to learn more at the Jacksonville Daily Record

Planned

The old Kmart on Highway 90 will become a new U-Haul self-storage business in Milton, FL. Chad Rome, president of U-Haul Company of South Alabama, will own the new facility, which will share a parking lot with the new Santa Rosa School District Administration Building. For now, the self-storage operates from a temporary showroom, offering U-Haul truck and trailer rentals. Source: Santa Rosa’s Press Gazette

In Colorado, the Englewood Planning and Zoning Commission is considering changing the city’s zoning code to allow for a 60,000-square-foot project at the former Kmart site at 200 W. Belleview Ave., with self-storage among the possibilities. The city will carry out the findings-of-facts process at its July 16 meeting. Capital Pacific is backing the project. Source: Englewood Herald 

Palmer Township, PA, has approved the expansion of A to Z Self Storage after the owner dropped a request to defer installing curbs and sidewalks, and planting trees along Tatamy Road.  WFMZ-TV

Denver-based Southwestern Property Corp. bought a 156,000-square-foot former JCPenney store at the Metrocenter Mall in Phoenix, AZ, with plans to develop a high-end self-storage and boat/RV storage facility or an entertainment center. The mall, one of the oldest in the area, is transitioning from a retail-focus to mixed-use. Source: azcentral.com 

CubeSmart Self Storage is nearing completion near the southwest corner of Viera Boulevard and Murrell Road in Viera, FL. Construction of the three-story, 100,000-square-foot facility began 10 months ago. It may open by the end of August. Source: Florida Today

https://t.co/9EcGSZ2xAB

— North Shore Herald Gazette (@NSHeraldGazette) July 5, 2019

Johnson Development Associates Inc. of South Carolina seeks to develop a 102,000-square-foot self storage facility on property it purchased in Glen Head, Long Island, NY. It is on the former site of Halm Industries, a printing press manufacturer. The plan calls for a three-story, climate-controlled building with about 900 units at 180 Glen Head Road. JDA bought 2.5 acres of the Halm property for $3 million. Life Storage will operate the facility. Source: LI Herald

Completed

StorQuest Self Storage has opened a StorQuest Express facility on Komohana Street, in the Malakole Industrial Park, in Kapolei, HI. The site features a virtual rental center and offers round-the-clock availability. Source: Yahoo! Finance 

StorQuest Self Storage also opened a new facility at 222 W. Mission Ave. in downtown Escondido, CA. The four-story building has 70,000 square feet and 810 units, and sits on 1.57 acres. Source: RE Business Online 

U-Haul Storage of Fremont opened June 19 in Fremont, NH, after U-Haul bought the former Budget Storage building at 25 Main St. The new facility has 11.46 acres, five drive-up storage buildings and RV storage. U-Haul Moving & Storage of Brentwood will manage the Fremont site. Combined, they offer more than 500 indoor and outdoor units. Source: PR Newswire

CubeSmart Self Storage Opens in Bayonne https://t.co/v5YEiCQbkI #NewJersey #development pic.twitter.com/u2TaV0eFey

— Jersey Digs (@JerseyDigs) July 5, 2019

Storage Deluxe of New York City have opened a seven-story, 120,000-square-foot self-storage facility at 186 E. 22^nd St. in Bayonne, NJ. The facility is managed by CubeSmart. Source: Jersey Digs

The post The Roll Up: Weekly Self Storage Development Round Up 7.10.19 appeared first on The SpareFoot Storage Beat.

A vacant Grand Union supermarket at 170 Clay Pond Road in Monument Beach, MA, may become a self-storage facility. Project developers propose to renovate the former grocery store, plus build a two-story, 15,000-square-foot addition next to lt. In total, there would be 105,660 square feet for storage. In addition, they have proposed 35,600 square feet of exterior, non-climate-controlled self-storage units to sit on top of the existing parking lot. Source: Cape Cod Times

Planned

In Virginia, the Charlottesville Planning Commission approved preliminary site plans for an eight-story hotel near the University of Virginia and an apartment building. The latter would include a four-story, 61,000-square-foot self-storage building at 901 River Road, at the corner of River Road and Belleview Avenue. Source: The Daily Progress 

A former Kmart store will become a U-Haul store and self-storage facility at 68^th Street SE in spring 2020 in Byron Township, MI. U-Haul bought the building in March. The building has 115,000 square feet, and about 50,000 of that will go to the self-storage facility, which will have climate-controlled rooms. U-Haul Moving & Storage of Byron Center has been operating in a temporary location. Source: Fox 17

Commercial Self Storage plans to expand its Castleton, IN, facility and to open a site in Noblesville, IN, at 605 Sheridan Road in a few months. The Castleton site, which has nine storage buildings at 8070 Castleton Road, is adding four storage buildings, scheduled for completion in late November. The company also has sites in Greenwood, IN, and in Gahanna, OH, and plans to add locations in a suburb of Columbus, OH, and in Greenwood, IN. Source: Indianapolis Business Journal 

Guardian Self Storage will complete phase two of construction at Nawiliwili, with plans to add 600 units to the existing 600 units by year-end in Kauai, HI. The owners also are considering adding a third phase. The company also owns a location at Puhi, on Kauai, that has 700 units and opened in September 2006. Source: The Garden Island

U-Haul Moving & Storage of Clifton Park, NY, is scheduled for completion by fall 2020, offering 800-plus indoor, climate-controlled units as part of a three-story, 100,000-square-foot facility. U-Haul recently purchased a 9.8-acre land parcel at 7 Synergy Park Drive for this new facility. Source: Yahoo! Finance

Under construction

Two 120-by-80-foot buildings that each will hold 80 self-storage units are going up in Port Townsend, WA, on the south side of SR 20 just north of U-Haul Moving & Storage. Permits also have been filed for an on-site manager’s home and office. Bradley Hoover, an Idaho businessman, is part of the group that bought the 8.67-acre site for $450,000 on Aug. 15, 2018 from the Roy and Minnie Fox Trust. Hoover is president of Sound Storage, which operates storage units in Glen Cove and Port Townsend. Source: The Leader

Homestake Capital and Harvestate Group are building a 595-unit Extra Space Storage self-storage facility at 310 Sicklerville Road in Winslow, NJ. It will have 66,300 rentable square feet. It’s expected to open by January 2020. ARCO Design/Build industrial is the general contractor. Source: Commercial Property Executive

Related news

The Planning and Zoning Board in Milford, CT, voted unanimously to extend a moratorium on self-storage facilities to Sept. 30. The board also backs getting a new regulation into place before that date, one that would prohibit self-storage facilities in all zones, except for the Housatonic Design District. Source: Milford Mirror 

The post The Roll Up: Weekly Self Storage Development Round Up 7.17.19 appeared first on The SpareFoot Storage Beat.

Developer Jim Allard showed his plans to the Hudson, NH, planning board to build a new self-storage facility on Roosevelt Avenue. He wants to put up a three-story, 90,900-square-foot facility at 23 Roosevelt Avenue.

His plan is to combine two lots and take down a 4,990-square-foot concrete building and parking lot before starting the new building. He estimates construction costs at $3.5 million. The board plans a public hearing about this matter on Aug. 14.

Also in New Hampshire:

• Developers for Derry Self Storage on Ashleigh Drive are building a third and final structure, which will replace an existing canopy. The new, two-story structure will have 25,000 square feet of space and 182 units. Yvon Cormier Construction Corp., based in Andover, MA, is the developer.
• Robert Peterson, owner of PPI Enterprises, hopes to build a 93,000-square-foot, three-story self-storage facility at 14 Ledge Road in Windham, NH. But the planning board denied approval for PPI to perform ledge blasting as part of the project, and Peterson is suing the town to appeal that decision. The board has 30 days to respond.

Source: New Hampshire News-Leader

Planned

The Hampshire Cos. and investment partner Circle Squared Alternative Investments bought a former Sam’s Club building at 2649 Erie Boulevard East in Syracuse, NY (pictured above). They will convert the vacant, 135,000-square-foot building into a self-storage facility. Construction begins this summer. CubeSmart will manage the new location, which will have 860 units.

An Extra Space Storage facility with two stories and 100,000 square feet is coming to the former Pathmark site at 1251 Deer Park Avenue in North Babylon on New York’s Long Island. The facility is being developed by Johnson Development Associates from Spartanburg, SC. Plans for the 8-acre site also include adding discount grocer Aldi and Planet Fitness. Demolition of the former Pathmark store begins in August. Source: Newsday 

U-Haul Moving & Storage of North Nashua, NH, soon will be operating at 476 Amherst St. U-Haul purchased the site, which formerly housed a military radar system machine shop, in May. U-Haul is renovating the space into 76,000 square feet on two stories, with more than 750 indoor climate-controlled storage rooms. Source: PR Newswire

Under construction

An Extra Space Storage facility will replace the former Hobby Lobby building on Route 224 in Boardman, OH. The owner hopes to have it open by early September. Source: WFMJ 

Completed

Principal RV & Self Storage completed the expansion of its facilities at 1710 S.W. 12^th Ave., Battle Ground, WA. The site now has 645 units, including those for boats and RVs. The owner is Principal Properties, which also owns the 22-acre Scotton Landing mixed-use development in which Principal is located. Source: The Columbian

Simply Stor-it, which has 566 units, opened at 1100 McCann Road, former home of a Kmart store that closed in March 2016, in Longview, TX. Source: Longview News Journal

The post The Roll Up: Weekly Self Storage Development Round Up 7.31.19 appeared first on The SpareFoot Storage Beat.

A three-story, 84,000-square-foot self-storage building has been proposed for a project that also would include a Putt-Putt Fun Center at 2200 Eubanks Road in Chapel Hill, NC. The latter could include mini golf, laser tag, bumper cars, an arcade inside a 16,000-square-foot building, a go-kart track and batting cages. The self-storage building would need a rezoning. The town’s Community Design Commission will review the plan on Aug. 27.

Source: Raleigh News Observer 

Planned

A joint venture between Nuvo Development and Clark Investment Group plan to develop a multistory Class A self-storage facility at 1599 Memorial Drive SE in Atlanta, GA.  The joint venture obtained a $10.4 million non-recourse a construction loan from a Midwestern-based bank, which was arranged by Irvine, CA-based Talonvest Capital. Talonvest also structured $4 million of joint venture equity for the joint venture.

The Saint Johns River Water Management District is reviewing plans for a 120,000-square-foot self-storage facility on 2.29 acres at 7782 Gate Parkway in Jacksonville, FL. The developer is TTH Gate Point Meadows LLC of Columbia, SC. Source: Jacksonville Daily Record

U-Haul Moving & Storage of East Denton, TX, a three-story, 100,000-plus-square-foot facility, is scheduled for completion by fall 2020. U-Haul bought a 5.89-acre parcel east of Highway 380 and Loop 288 for the business. It will have 700-plus indoor, climate-controlled units, and be located five miles from the University of North Texas. Source: PR Newswire

Under construction

U-Haul plans to develop 50,000 square feet of indoor self-storage inside a former Kmart it acquired in Marshalltown, IA, with renovations being done by spring 2020. The business currently operates from a temporary showroom, offering truck and trailer sharing, towing equipment, hitch sales and moving supplies. U-Haul bought the 98,174-square-foot building on June 27. Source: Yahoo! Finance

Sylios Corp (OTC Pink: UNGS) of St. Petersburg, FL, announced that its wholly owned subsidiary, 1720 RCMG LLC, has started developing a self-storage facility in Macon, GA. The facility will have 194 units (130 climate-controlled plus 64 exterior ones). If room allows, the facility also will have up to 15 boat/RV parking spaces. The company projects an annual revenue between $250,000 and $275,000 at 92 percent occupancy. The projected construction cost of the facility is $520,000. Source: Sylios Corp.

Completed

Security Self Storage brings state-of-the-art to Aurora Road landscape in Solon https://t.co/2VuEdCL1Wx

— Nordonia Hills News (@NHillsNews) August 5, 2019

Security Self Storage has opened at 30525 Aurora Road in Solon, OH. The 90,000-square-foot facility has 400 units plus another 20,000 square feet for vehicle storage. Source: Cleveland.com

Self-Storage of Spokane plans to open a new storage center Aug. 24 at 4415 N. Market St. in Hillyard, offering both climate-controlled and standard units, packing and moving supplies, and truck rentals. Source: The Spokesman-Review

Zoning

Future self-storage units will be allowed only in the Housatonic Design District in Milford, CT. The Milford Planning and Zoning board voted Aug. 6 unanimously in favor of this change to the zoning regulations. Self-storage facilities previously were allowed in other zones – including office, industrial and commercial – as well as the Housatonic Design District. Source: The Milford Mirror

The post The Roll Up: Weekly Self Storage Development Round Up 8.14.19 appeared first on The SpareFoot Storage Beat.

Liberty Investment Properties hopes to build Liberty Corner – which would house five retail outlets, a restaurant and drive-thru plus a My Neighborhood Storage Center — at the corner of East Colonial Drive and Magnolia Avenue in downtown Orlando. That’ll be just in time, as the Orlando Economic Partnership’s 2030 report said Orlando will add more than 1,500 people weekly for the next 11 years.

Source: Orlando Weekly

Planned

A joint venture involving BCM Management Partners of St. Louis, MO and Premier Storage Investors of Memphis, TN, is developing a self-storage facility at 101 Clarkson Road, Ellisville, MO, aiming to complete it in Q2 2020. It would have two two-story buildings on just over 3.5 acres, 76,000 net rentable square feet and 750 units. It’s part of a mixed-use development that will include a fast-food restaurant, convenience store and car wash.

Elsewhere in Ellisville, Public Storage lost a decision when the city council turned down an amendment of a permit given to Public Storage Inc. Approval would have allowed for a 75,000-square-foot expansion of an existing facility at 16230 Truman Road. Source: City of Ellisville

Planned

In Alabama, the Hoover City Council scheduled a hearing for Sept. 16 for a proposal to build about 90,000 square feet of climate-controlled storage in two buildings along Alabama 150. The facility would have about 700 units. StoreEase Development wants to put those buildings on property just west of Walgreens, near the Deer Valley entrance. Source: Hoover Sun

A former Kmart site is closer to redevelopment after the City Council in Englewood, CO, approved a zoning change on first reading. The site, at 200 W. Belleview Ave., would be renamed The Hive on Broadway. The plan is to redevelop that building into one that offers restaurants, self-storage units and retail. The council’s final vote takes place Sept. 16. Source: Englewood Herald

Developer Lauderdale Holdings LLC is one step closer to getting permission to build a self-storage business at the intersection of McEver Road and Radford Road in Flowery Branch, GA. The city council approved rezoning 13.4 of 16.4 acres from neighborhood shopping to light industrial, with the developer agreeing to put up a traffic light. Source: Gainesville Times

Completed

Miller-Valentine Group and Coastal Storage Group have built a three-story, 100,300-square-foot, 755-unit storage facility at 2072 Western Ave. in Knoxville, TN. Extra Space Storage will manage the business. Source: Coldwell Banker

WCSS DuPont WA LLC, which is part of West Coast Self Storage Group, opened a mixed-use project in DuPont, WA. It includes a WCSSG storage facility at Center Drive and McNeil Street; WCSSG runs 63 facilities in the Pacific Northwest. The location has 56,450 rentable square feet and 568 climate-controlled units. The project also includes an Ace Hardware store that opened in July. Source: Inside Self-Storage

U-Haul Moving and Storage of Marshalltown, IA, has opened after buying a former Kmart building and parking lot at 1720 S. Center St. It will have 98,184 square feet and more than 700 climate-controlled storage units. U-Haul spent about $1.4 million to buy 7.2 acres for the new business. Source: Times Republican

U-Haul also plans to host a community open house from 11 a.m. to 4 p.m. on Sept. 14 at 1450 S. West Ave. at U-Haul Moving & Storage of Waukesha, WI. The company opened in April 2017, and also did renovations to the former The Vault storage facility, finishing with 576 updated, climate-controlled units. Source: Yahoo! Finance

The post The Roll Up: Self Storage Development Round Up 9.12.19 appeared first on The SpareFoot Storage Beat.

The planning commission in Bristol, TN, approved a special-use permit that enables U-Haul to rework a former Kmart property for indoor and outdoor self-storage, plus truck rentals. It would have 65,000 square feet and about 750 to 800 climate-controlled indoor storage units.

Steve Johnson and his company, Johnson Commercial Development, own the property. He has pursued a $1.7 million tax increment financing incentive from the city of Bristol. A study began in mid-July to decide if redevelopment of the Kmart could happen without a TIF, but it hasn’t been completed.

Source: Bristol Herald Courier

Planned

Community Self Storage expects to open at 23155 Morton Ranch Road, Katy, TX, in spring 2020. Source: Community Impact Newspaper

In Georgia, the Cumming City Council will vote at its Nov. 5 work session regarding a rezoning that would allow a mixed-use development that would include a 90,000-square-foot self-storage facility, 438 residential units, 75 single-family homes, 62 townhomes and 68,000 square feet of retail/flex. The project is called Mashburn Village, designed by Wakefield Beasley & Associates. Source: Forsyth County News

In Slinger, WI, My Choice Self Storage will add a temperature- and humidity-controlled storage building to Slinger Self-Storage, 2010 American Eagle Drive. Source: Washington County Insider

Completed

StorQuest opened two self-storage facilities in Oregon, one in Tigard (12800 SW Pacific Highway) and the other in Hillsboro (750 NE Cornelius Pass Road). Source: Connect commercial real estate 

The post The Roll Up: Weekly Self Storage Development Round Up 10.23.19 appeared first on The SpareFoot Storage Beat.

Talonvest Capital Inc., based in Irvine, CA, closed two assignments for 1784 Capital Holdings. The first one, for $12.25 million, will build an 832-unit, 71,070-square-foot, climate-controlled self-storage facility in Old Town Scottsdale, AZ. The second one, a bridge loan of $10.25 million, is for a self-storage facility that opened in June in Tucson, AZ, with 799 units and 80,765 square feet.

Talonvest is a boutique real estate firm that advises self-storage and commercial real estate investors, owners and developers throughout the nation.

Source: Talonvest Capital Inc.

Planned

Omaha-based McGregor Interests Inc. is working on one conversion, two expansions and a new building at sites in Nebraska and Iowa. In one expansion, it will add 35,000 square feet to Old Market Mini Storage at 501 Pacific St. in Omaha. The second expansion will add 68,000 square feet, including outdoor vehicle storage, to the former Crescent Ridge Mini Storage at 3319 Ute Ave. in Waukee, IA. The company also bought a 92,000-square-foot industrial building at 301 S. 74^th St., Omaha, and plans to convert it into self-storage. Finally, the company has begun building a new facility of 85,000 square feet at 11163 S. 168^th St. in Omaha. MII already operates 10 self-storage sites in Iowa and Nebraska under the LockBox Storage name. Source: Inside Self-Storage

In Bristol, TN, developer Steve Johnson of Johnson Commercial Development, unhappy that city officials wanted to study whether or not a tax increment financing incentive was needed to help him redevelop a former Kmart site, dropped those plans and instead will sell the former Kmart property to U-Haul. The sale is expected to close in early 2020. Johnson sought a $1.7 million TIF from Bristol to help finance the $9 million project that would have new retail stores. He was displeased that a study to decide if the project could be completed without a TIF took more than three months. Johnson bought the Kmart site for $2.5 million; U-Haul will use it for indoor and outdoor self-storage, as well as truck rentals. Source: Bristol Herald Courier

In Florida, U-Haul Moving & Storage of Milton, located about 20 miles northeast of Pensacola at 6050 Highway 90, plans to build about 700 self-storage units to add to its retail offerings, which include truck and trailer sharing, towing equipment, hitch sales and moving supplies. U-Haul is converting a 101,354-square-foot former Kmart building that it purchased June 4. Source: PR Newswire

Under construction

Diversified Properties of Montville, NJ, has broken ground on a three-story, 98,000-square-foot self-storage facility at 352 Main Road in Montville. CubeSmart Self Storage will manage the facility, which is a joint venture with 1026 Real Estate Investors LLC of New York City. It sits on 2.5 acres. Source: Real Estate Weekly 

The Hampton Cos. and Harrison Street began construction of a new self-storage facility at 141 US 206 in Hillsborough, NJ. It is expected to be finished in February 2020 and to house 903 climate-controlled units. This joint venture plans to build self-storage sites along the Interstate 95 corridor from Florida to New England. Extra Space Storage will manage the facility, which has 120,524 square feet. Source: Real Estate Weekly

4 PAWS Development of Madeira Beach, FL, bought 4.3 acres north of Barcellona Road for $825,000 and is putting up a self-storage business. Also in the area, another self-storage business is planned at the northwest corner of Wisteria Loop and U.S. 41, but the project awaits commissioners’ decision on whether or not to change the county’s land-use plan to allow commercial development on 6.2 acres set for residential use. Source: Tampa Bay Times

Completed

Owner St. Mary Capital Partners will open a 300-unit, 38,000-square-foot self-storage facility called M100 Self Storage on Nov. 4 at 763 Highway M, Villa Ridge, in Franklin County, MO. The business also will have 75 RV parking spaces and some oversized units. Source: St. Mary Capital Partners

The post The Roll Up: Weekly Self Storage Development Round Up 10.30.19 appeared first on The SpareFoot Storage Beat.

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 19,125 square feet of self-storage space. Source: Tallahassee Democrat 

Planned

The Glynn County Mainland Planning Commission may consider a rezoning request to allow a self-storage facility to replace the former Sears store in the Glynn Place Mall in New Brunswick, GA. The Jefferson Bennett Development Group hopes to build a climate-controlled building, as well as convert some of the Sears structure into commercial space. The Sears store closed in 2018. The commission also will hear a proposal for a conditional use permit for Exit 29 Self Storage, a planned 14,400-square-foot structure at 272 Southport Parkway. Source: The Brunswick News 

In Corpus Christi, TX, business partners Ronald Fremin and Chris Genard, both of Louisiana, plan to renovate the former Butter Krust Bakery into a climate-controlled storage facility for both residential and commercial use. Construction began in September, and it’s expected to be completed in March 2020. The Butter Krust Bakery building was built in 1938 and has nearly 75,000 square feet. Source: Caller Times 

Completed

Friendly Self-Storage opened Aug. 5 at 360 Gilder Way in Gypsum, CO. It has 590 units and 62,000 rentable square feet, plus uncovered outdoor parking, RV and boat storage, and trailer rentals, moving and packing supplies.

La Crosse Indoor Self Storage opened Oct. 16 in about one-third of the former SkipperLiner boat manufacturing building at 123 Marina Drive on French Island, WI. American Marine rents the other two-thirds of the building, which Pete Griffith owns. The facility has 303 units and 15,000 square feet. Source: La Crosse Tribune

Moratorium

The Coon Rapids City Council voted Oct. 15 to ban any new outdoor self-storage facilities in the city. Currently operating outdoor facilities may continue to run in the Minnesota city. Last February, the council put a moratorium in new self-storage sites, and renewed it for another six months in August. The city has seven existing and two newly opened self-storage facilities in operation. Source: ABC Newspapers

Reversal

In California, the Atascadero City Council voted 3-1 not to allow the Dove Self-Storage development near Paloma Park. The city’s planning commission had approved the project, but a council member submitted a repeal of that approval. The City Council eventually agreed not to let the project go forth. Source: Colony Magazine

The post The Roll Up: Weekly Self Storage Development News 11.6.19 appeared first on The SpareFoot Storage Beat.

A six-story, 131,700-square-foot 1,100-unit Life Storage building has been proposed for 33 E. Woodlawn St. in the Germantown neighborhood of Philadelphia, PA. That site, owned by the Philadelphia Suburban Development Corp., currently is a parking lot. JSF Management is developing the property. LifeStorage, based in Buffalo, NY, has 750-plus locations nationwide.

Source: Philadelphia Business Journal

Planned

City officials seek a zoning change in Elk River, MN. If approved, it would lead to owner Keith Burnham building an Affordable Storage facility at the former Max-Sun/Sportech building at 11074 179^th Ave. NW. Burnham plans to build a 500-unit, indoor climate-controlled structure at the site. Source: Star News

Larry Koland hopes to bring the Rosemount Car Club, in the form of private garage condominiums, to the Rosemount Business Park this summer in Minnesota. It’s designed for those who own classic cars or exotic vehicles, or have other hobbies that require 650 to 1,000 square feet. The facility will have about 76 condos in three buildings, plus a community clubhouse. The Rosemount City Council will discuss the proposal at its next meeting. Source: SUN This Week

A three-story, climate-controlled self-storage facility is planned for north Boca Raton, FL. Manley Storage Ventures, Rosemurgy Properties and Sentry Self Storage plan to put up the 128,635-square-foot building on 3.5 acres on Federal Highway. Manley Storage Ventures has been developing principal and managing partner for about 60 self-storage sites totaling 4.8 million square feet, according to a press release. Rosemurgy Properties is a commercial real estate development, investment and management firm whose specialties include self-storage. Sentry Self-Storage manages more than 25 properties. Source: The Real Deal

Completed

SecureSpace Self Storage opened a new facility at 1518 S. Washington Ave. in Piscataway, NJ. It has 122,000 square feet and climate-controlled units. Source: Yahoo! Finance

Moratorium

Clarkston, GA, has approved a six-month moratorium on new self-storage facilities, gas stations and dollar stores. Officials plan to rewrite the city’s zoning code and be strategic about the allocation of available space, according to Councilwoman Y.T. Bell. The city, which is just two square miles, currently has three mini-warehouses or self-storage facilities, seven gas stations and three dollar stores. Source: Atlanta Journal Constitution 

The post The Roll Up: Weekly Self-Storage Development News 3.11.20 appeared first on The SpareFoot Storage Beat.

A unique hybrid facility has opened in Topeka, KS: TopCity Sports & Storage now offers climate-controlled storage units and later on, after it adds an indoor-sports facility, athletes will be able to practice, then store items in their own units. The company will market to local sports teams as a place to have practices and store equipment. TopCity, located at 4600 N. Topeka Blvd., also offers parking for boats, cars and RVs.  Source: Inside Self-Storage

Planned

The city of Ocoee, FL, approved a rezoning request that allows a self-storage facility to be built at 9000 W. Colonial Drive (above) as part of the Shoppes at West Oaks Planned Development. A four-story building is planned and will have office, retail and self-storage space. The project also includes a small addition to the nearby Aldi Grocery Store. The climate-controlled self-storage portion will have 100,396 square feet and be spread on all four floors. There’ll be retail on the first floor and room for office space on the fourth floor. Source: Orangeobserver.com

Banner NorCal Developer LLC will build a six-story, 110,844-square-foot storage building for boats and RVs following approval by city officials in Alameda, CA. It will go up on a 1.24-acre parcel at the northwest corner of Mariner Square Drive and Marina Village Parkway Source: East Bay Times

U-Haul hopes to win a rezoning request so that it can convert a former Kmart property at 3150 National Road West in Richmond, IN, into self-storage, truck and trailer rentals, and retail sales. The rezoning request covers just the 8.33 acres that comprise the west half of the property. The Kmart closed in December. Source: Palladium-Item

The Roller Valley roller rink at 9415 E. Fourth Ave. in Spokane Valley, WA, may be converted into a self-storage facility. TDR Investments LLC filed for a building permit that calls for 95 outside storage containers taking up more than 32,100 square feet. The plans also seek to transform the roller rink to house 116 indoor storage containers, taking up 15,500 square feet. The three Oberemok brothers – Roman, Timofey and Dmitriy – comprise TDR. Source: The Spokesman-Review

Under construction

Hawaii Self Storage plans to build a self-storage facility in Iwilei, which is close to downtown Honolulu, in a second development phase of a $10 million project. The company began renovating a shared part of the building at 909 Dillingham that will add about 75,000 square feet of storage on two levels. Hawaii Self-Storage is leasing the building from Bank of Hawaii, which owns the 3-acre site. The first phase will add a reception and administration area, a new freight elevator, new air conditioning, units, vehicle storage and more. The building also will have a conference room, loading docks, access control and more. The second phase will add a five-story storage building. Iwilei will be the company’s seventh location. Source: Pacific Business Journal

The post The Roll Up: Weekly Self Storage Development News 3.25.20 appeared first on The SpareFoot Storage Beat.

U-Haul is bringing the party to Marietta, GA for the Fourth of July. The company is holding a grand opening of a new facility it converted from a midcentury Chevrolet dealership. The dealership closed in 1988 and variety of other tenants moved in and out until U-Haul purchased the property in 2017.

The facility has been outfitted with 400 self-storage units. It is located at 900 Roswell St., along the route of the annual Marietta Fourth of July parade. U-Haul will be serving free lunch and giving out prizes to celebrate the holiday.

Planned

And in other U-Haul news, the company will convert the former home of biotech firm Genzyme into a 600-unit self-storage facility in Framingham, MA. U-Haul bought the 93,000-square-foot building at 15 Pleasant Street Connector for $4.4 million in April. Genzyme left it in 2012. U-Haul also is renovating the former Melville Shoe Corp. factor in Worcester, MA. Source: Worcester Business Journal

But wait, there’s more U-Haul. U-Haul is converting a former Kmart store it purchased into a new self-storage facility at 7425 E. Washington St. in Indianapolis, IN. The 178,963-square-foot store will be outfitted with 598 indoor self-storage units with climate-control options. The building has been empty since 2014. Source: PR Newswire

Under construction

Ballinger Self Storage, located at 20029 19^th Avenue NE in Seattle, WA is nearing completion. The newly constructed four-story storage facility will offer 788 storage units.

Simply Self Storage is building a new facility at 13461 Rosecrans Avenue in Santa Fe Springs, CA, which is part of the Los Angeles metro area. Broker Stephen Grossman arranged the sale of the site to Simply. The completed complex will offer more than 1,000 storage units covering approximately 150,000 square feet of net rentable space. It is scheduled to open this summer.

The Branchburg, NJ, zoning board of adjustment approved a plan by Cyzner Properties to convert the 3421 Route 22 east building, which is 40 years old, into a self-storage facility. The building was the former home of Sun National Bank. Plans include 1,000 storage units – including some for wine storage — plus 400 spots for RVs, boats and other vehicles. Source: my central jersey

The post The Roll Up: Weekly Self Storage Development Round Up 6.26.19 appeared first on The SpareFoot Storage Beat.