An iconic retail strip in Austin, TX is destined to become the site of a self-storage facility.
Known by locals as Slackerville, the site is being sold by its longtime owner due to rising property taxes, according to the Austin-American Statesman.
South Austin ‘Slackerville’ center clearing out for storage facility https://t.co/l2LJ5HaWTW pic.twitter.com/eY6kixoH6F
— artsinaustin (@ArtsInAustin) June 8, 2016
Located at 2209 S. First St., the retail center is home to a record store and a vintage boutique, both of which plan to relocate. The buyer of the parcel is Austin-based Word Class Capital Group, a real estate development firm that operates the Great Value Storage facility chain.
Planned
A pair of developers is seeking permission to convert a Costa Mesa, CA strip mall into a two-story, 744-unit self-storage facility. A joint venture between Sanderson J. Ray Development of Newport Beach and Costa Mesa-based Cardinal Development is hoping to get approval from the Costa Mesa planning commission to flatten an Autoplex strip mall at 375 Bristol St, the Los Angeles Times reported. The project would include about 98,800 square feet of storage space along with a 1,200-square-foot management office. Plans also include a 5,000-square foot food court on the 3.2-acre site. The project is expected to go before the Planning Commission for a public hearing on June 13.
Developer C.F. Currin is facing opposition from residents to his plans to build a three-story, 500-unit self-storage facility next to a church in Chesterfield County, VA, according to the Chesterfield Observer. The church’s pastor said that he and his parishioners have no problem with the facility, but some nearby residents in Chester don’t like the idea. The church is located at 5100 W Hundred Rd. Currin’s attorney says the developer plans to design the facility to look like an office building. The Planning Commission will hear local businessman Currin’s case again on July 19. In the meantime, he will perform tests to determine the actual height of the building, then hold a community meeting to solicit additional feedback from citizens.
Despite vocal opposition from a few council members, the city council in Springdale, AR has voted to rezone a property from residential to commercial so that a self-storage facility can be built on the site, the Northwest Arkansas Democrat Gazette reported. Property owner Terry Pinkley wants to construct a 10-building, 57,000-square-foot self-storage facility along South Downum Road. Pinkley claims the facility, which would sit on 3.56 acres, will fit in with its surroundings and bring in tax revenue for the city. Pinkley plans to complete the project within a year.
Diversified Development is planning a 93,000-square-foot self-storage unit on Bleachery Boulevard in Asheville, NC, according to the Citizen Times. About 64,000 square feet of the three-story facility will be made up of rentable space. It will include elevators and take up 2.25 acres of a six-acre site. It is set to open in early 2017. Diversified paid $750,000 for the land alone and the total cost of the project will come in at about $6.5 million. The facility will operate under the name StorageMax.
SurePoint Self Storage recently received approval from the city council in Pearland, TX to build its fourth location in the Great Houston area. The new three-story, climate-controlled facility will be located in Pearland just south of the intersection of Broadway and Kirby. The developer also recently began building its third facility in the Houston market – a 119,000-square-foot, three-story facility on Spring Cypress Road in Cypress. The San Antonio, TX-based company also recently began construction on a four-story facility in Richmond, near Highway 50 and the Grand Parkway. SurePoint completed three similar ground-up storage facilities in San Antonio that opened between February 2015 and April 2016.
One Loudon is hoping to get the green light to build 685 apartment units, 40 townhouses, and a self-storage facility on its 358-acre property in Loudon County, VA. The developer wants to turn over a ready-to-use indoors sports center to the county instead of paying more than $13 million in cash proffers for county capital expenses. In exchange, it would be granted rezoning so that it could build a mixed-use complex that would include the self-storage facility, according to Loudon Now.
Under Construction
The Caster Group is building a new 96,236-square-foot A-1 Self Storage location at 845 Hollister St. in San Diego, CA. The facility will be located in the Imperial Beach community and is scheduled to open in December. The Caster Group is also in the process of building another A-1 facility in the Pacific Beach community of San Diego that is expected to open in November.
U-Haul is nearly done with the first phase of its transition of a former laser-tag arena and arcade into a full-service moving and storage facility in North Smithfield, RI The new facility at 408 Eddie Dowling Hwy will feature 667 indoor self-storage rooms with heating, with the first 88 rooms available by mid-to-late summer.
Johnson City, TN-based Mountcastle Corp. is building a three-story, climate-controlled facility on Hendersonville Road in Asheville, NC. The building will be 94,659 square feet, with 69,842 square feet of rentable space — for a total of 614 rental units. The project cost is estimated at $7 million, the Citizen Times reported.
Completed
Extra Space Storage recently opened a new location at 50 Gould Avenue in Newark, NJ. The five-story building sits on a site that was home to an abandoned factory once owned by the Imperial Laundry Company, according to PlaceNJ.
A self-storage REIT has acquired a newly-constructed self-storage facility at 1500 E. Baseline Rd. in Phoenix, AZ. Strategic Storage Growth Trust Inc. purchased the two-story building, which has about 94,000 net rentable square feet and 840 units.
The post The Roll Up: Weekly Self-Storage Development Round Up 6.8.2016 appeared first on The SpareFoot Storage Beat.