SmartStop Asset Management has completed construction of a $35 million mixed-use facility in Ladera Ranch, CA that includes a 42,000-square-foot self-storage facility, a 63,000-square-foot gymnasium and 15,000 square feet of office space. The facility, at 10 Terrace Road, will house the company’s corporate headquarters as well.
“We are extremely excited to have completed construction on this amazing mixed-use development and pleased to be able to provide a vast array of benefits to our local community,” said H. Michael Schwartz, CEO/chairman of SmartStop Asset Management.
The self-storage facility is being managed by Extra Space Storage. The athletic center is operating under the name Ladera Sports Center (pictured at top) and features eight basketball/volleyball courts.
“Concept-wise, a private sports center like this has not been built anywhere that I’m aware of, at least not in California,” said Richard Lutzky of Lutzky Associates Development, who oversaw the entire project. “By making it a mixed-use project, we were able to underwrite the cost to use revenue from the storage and office to offset a large portion of the construction costs.”
Under Construction
A 70-unit apartment complex at 312 North Gay Street in Auburn, AL is being demolished to make way for a new 91,560-square-foot self-storage facility developed by Merchants Retail Partners. The project also includes an 1,812-square-foot fast food restaurant space and an additional 1,500 square feet of retail space.
Planned
Ample Storage is developing a new self-storage facility on the 5200 block of Sinclair Drive in Raleigh, NC. The company has obtained permits to build four buildings that will span a combined 114,800 square feet at an expected cost of $6.95 million, the Raleigh Public Record reports.
A joint venture between Westport Properties Inc. and The Carlyle Group purchased an industrial building in Kendall, FL for $4 million. The venture is planning to replace the building at 13301 SW 87th Avenue with a new 169,712-square-foot storage facility, according to the South Florida Business Journal. The group also has a project under development in North Miami.
Ziff Properties, in a cooperation with Reliant Real Estate Management, is slated to redevelop the skating rink at 12220 Five Mile Road in Fredericksburg, VA into a 48,000-self-storage facility. The Free Lance-Star reports that Golden Skate World will close October 2 as developers gear up to transform the property into a 1,072-unit facility.
Completed
The newly built AAA Self Secured Storage facility has opened in Fairfield, OH at 2873 Princeton Road. The 45,000-square-foot facility hopes to expand to 150,000-square-feet in the future, according to Journal-News.com.
Main Street Climate Storage has opened in a converted warehouse building at 1420 Carter Street in Chattanooga, TN. Locally-based Riverview Partners owns the 27,000-square-foot facility, which is managed by Absolute Storage Management.
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