Ramser Development Company will build a 97,000-square-foot self-storage facility on South Harbor Boulevard in Fountain Valley, CA.
The project has been approved and construction is expected to start during the fourth quarter of 2016. The project involves transforming a former RV & Boat storage yard and used car dealership into a state of the art storage complex, which will include a new multi-story structure and drive up units. The facility will operate under the name Storage Depot. Ramser Development purchased the site in 2004.
Planned
San Antonio, TX-based SurePoint Self Storage is stepping out of Texas with a new development site near Kansas City under contract.
The company, which consists of principals Richard Loeb, Jeff Bailey and Brian Cisarik, plans to develop a 123,000-square-foot facility on the 2.7-acre site in Olathe, KS. The site is located near the intersection of 135th and Blackbob. Cisarik told the SpareFoot Storage Beat that they are looking for additional sites in the Kansas City area.
“Our philosophy was that the REITs are pretty much all over the top 10 markets from a population standpoint, so we decided to look at Kansas City,” Cisarik said.
The company has recently developed facilities in San Antonio and Houston, but Cisarik said those markets are starting to get harder to find sites for self-storage in. “We said, ‘Lets go somewhere we might be on the front edge of some development instead of falling behind,’” Cisarik said.
Cisarik said they expect to start construction of the Olathe project in early 2017.
U-Haul is seeking approval to convert a former Wal-Mart store in Biloxi, MS into a self-storage facility, according to the Sun Herald. The facility would span about 118,000-square-feet include room for indoor boat and RV parking, The building is located at 22381 Pass Road.
U-Haul has also acquired a former bakery in Alexandria, VA that it will convert into a self-storage facility. The 91,544-square-foot building is located at 3400 S. MacArthur Drive and has been vacant since 2012.
A+ Storage is seeking approval to build a $7 million self-storage facility at 497 and 501 Old Hickory Boulevard in Nashville, TN. The 100,000-square-foot storage project also includes retail and mixed-use sites. Construction is expected to start soon and finish next spring, according to the Tennessean.
Metro Self Storage is gearing up to build its 23rd store in the Chicago market. The site is located at 1951 W. Lake Street in Addison and will offer about 77,525 square feet when completed. The project is a joint venture with Fremont Realty Capital and is scheduled to open in July 2017.
Trico Capital Investments just acquired a 64,705-square-foot industrial building in Garden Grove, CA where it will build out 94,000-square-foot self-storage facility by adding a second floor inside the 21-foot high building. Hard Hat Inc. will serve as general contractor.
Hampshire Properties are seeking approval to build a 100,000-square-foot self-storage facility on a site on Morris Street in Morristown, NJ. Neighbors have voiced concerns about the appearance of the project, which also includes the creation of a 2,600-square-foot art studio space that would be managed by a local non-profit. Morristown Green reports the facility would be operated by Extra Space Storage when completed.
Under Construction
Storage Squad, a full-service storage provider focused on students, has broke ground on its first self-storage facility. The project is located at 1401 Dryden Road in Ithaca, NY. The company was founded in 2011 by Cornell University students Nick Huber and Dan Hagberg, according to Ithaca.com.
Completed
Columbia, MD-based ezStorage has opened a new facility at 4001 Sandy Spring Road in Burtonsville, MD. The facility offers 930 units.
The post The Roll Up: Weekly Self-Storage Development Round Up 7.20.2016 appeared first on The SpareFoot Storage Beat.