Dallas-based Leon Capital Group broke ground on a new 105,987-square-foot self-storage facility in Round Rock, TX. The facility, at 215 North A.W. Grimes Boulevard, will be managed by CubeSmart. It is scheduled for completion in December 2016.
“The quality of both the location and the facility are becoming increasingly more important to renters,” said Jake Walker, vice president of Leon Capital Group.
The company plans to break ground on two additional self-storage developments in the Austin-area by the end of the year. The Round Rock project is being constructed by Embree Construction Group, Inc.
“We are targeting sites in fast-growing communities like Round Rock, which has experienced significant growth driven by the establishment of major corporate employers, high-profile retail brands and a school district ranked among the best in the state,” Walker said.
The Round Rock project is the company’s first storage development. In 2015 it acquired two existing facilities located in Austin and Houston. The firm has set aside $200 million in equity to grow its self-storage development pipeline. In addition to Austin, the company has four additional projects under development in other states.
“Leon Capital Group has the capital, development expertise and national reach needed to quickly grow our storage platform and accommodate the growing demand,” Walker said.
Planned
- Spartanburg, SC-based Johnson Development Associates plans to develop a 115,000-square-foot facility at 4110 Springfield Church Lane in Short Pump, VA. Construction is estimated to cost $10 million, according to Richmond BizSense.
- MCSS Self Storage LLC has closed on a site in Doral, FL where it will build a 77,600-square-foot self-storage facility with 925 climate-controlled units. The facility, located on 77th Avenue near the intersection of Palmetto Expressway & NW 36th Street, is set to be managed by CubeSmart.
- Sentry Self Storage seeks approval to build a 123,156-square-foot self-storage facility at 2020 Coolidge Street Coolidge Street in Hollywood, FL.
- The Real Deal reports that The Carlyle Group and Westport Properties have obtained $12.5 million in financing for its planned self-storage project in North Miami, FL. The loan was secured by four parcels owned by the two companies. The group plans to demolish the existing warehouse buildings at 12400 Northeast 13th Place and replace them with a new four-story facility. Westport operates facilities under the name U.S. Storage Centers.
- The Natchez Group wants to build an eight-story self-storage facility on a .58-acre site in Nashville. The company, led by Taylor Preston, obtained conceptual approval for the project and will submit additional details for final approval, the Tennessean reported. The facility would offer 1,000 units if built. The developer currently has the property at 825 Third Avenue South under contract.
- MPV Properties and Selwyn Property Group seek approval to redevelop the existing building at 200 Clanton Road in Charlotte, NC into a 73,000-square-foot self-storage facility, according to the Charlotte Observer. The facility would be managed by CubeSmart. The two companies purchased the building in April for $3.1 million. The company said it would later develop a brewery, restaurant, office or other retail as part of the project. The development is the latest in a recent wave of self-storage projects to be considered in Charlotte.
- A developer seeks approval for a 72,450-square-foot self-storage facility at 1292 Hendersonville Road in Asheville, NC. The facility would offer 600 storage units.
- Developer Jon Bryant is planning to develop a new self-storage facility on a brownfield site at 470 and 471 Howard Avenue in Holland Township, MI, the Holland Sentinel reports. The facility will operate as Lake Macatawa Storage. The project is pending site plan approval from the township planning committee.
- Nuvo Development has proposed a new development project at 10384 Riverside Drive in Palm Beach Gardens, FL, which includes plans for a new 99,864-square-foot self-storage facility. 17,600 square feet of office would be developed inside of a converted warehouse on the site, according to the South Florida Business Journal.
- Planners have recommended approval for a developer’s plans to construct Pooler Storage, a facility consisting of a three-story building and three one-story buildings, according to Savannah Now. The proposed site is located at 240 Park Avenue in Pooler, GA.
- Developer Bill Nolan is seeking approval to build a 86,250-square-foot facility on Street Road Southampton, PA, the Bucks County Courier Times reports. The facility, EZ Storage, would offer about 600 units.
Completed
- U-Haul recently opened a newly developed self-storage facility at 7803 Brewerton Road in Cicero, NY. The office was converted from an abandoned Chinese restaurant.
The post The Roll Up: Weekly Self-Storage Development Round Up 5.11.2016 appeared first on The SpareFoot Storage Beat.