The South Florida city of Margate won’t allow any new self-storage facilities to open within its borders.
“We have nine in nine square miles,” Vice Mayor Arlene Schwartz told the South Florida Sun-Sentinel. “I think we have enough.” And Commissioner Anthony Caggiano added, “We should be a place where people and business move in, not a storage place for other cities.”
That news may rub some people the wrong way, but they’ll be happy to know that Margate also lifted a moratorium on massage parlors. Source: South Florida Sun-Sentinel
Planned
U-Haul plans to convert part of a shopping mall into a self-storage facility in Colorado Springs, CO. The company purchased Tiffany Square, which was built 33 years ago for high-end fashion retailers, for $12.2 million, and opened an office inside the mall to rent trucks, trailers and moving supplies. It will spend approximately $2 million to build the self-storage facility on the second floor, aiming to open it in early 2018. Source: Colorado Springs Gazette
Time Corners Self-Storage and Mark Cockroft received approval from the Allen County Plan Commission for a rezoning that will enable them to build Lima Road Self-Storage in Fort Wayne, IN. Plans call for about 1,000 units in 10 storage buildings with a combined 142,725 square feet on 11 acres at 12700 and 12714 Lima Road. The buildings would replace DeWald Gardens, a garden center. Cockroft earlier developed Downtown Self-Storage at the former Kroger supermarket at East State Boulevard and Spy Run. Source: The Journal Gazette
Memphis, TN-based Jernigan Capital Inc. (NYSE: JCAP) has invested $28.7 million in a multistory self-storage facility to be built for Inglewood Self-Storage LLC in Inglewood, CA. Construction is planned to begin in Q1 2019, with completion expected in mid-2020. It will have 120,038 rentable square feet, located at West Hyde Park Boulevard near the 405 Freeway.
Source: The PE Hub Network
The city council in Lawrenceville, GA approved a rezoning and a special-use permit for GS Construction Inc., which will build a self-storage facility at 530 Lyle Circle. The facility will be capped at two stories. The building site is next to the GS Construction office. Source: Inside Self-Storage
Two new projects in Yakima, WA, will bring 1,100 new storage units to the city in the next several years, and a third project—an 8,000-square-foot building to store RVs—also is planned. Nearly 800 of those units are from Yakima Valley Storage, a storage facility being built at 2211 Longfibre Road, near Lowe’s and Costco. Seattle’s Urban Self Storage manages the site. In West Yakima, Bill Moultray, a longtime broker for Heritage Moultray Real Estate Services and a principal for Teton Development LLC, has received approval for a new, 300-unit self-storage facility at 4503 Powerhouse Road, next to Fred Meyer. Source: Yakima Herald.com
The Village of Niles (IL) Board of Trustees approved a self-storage facility at 7421 Waukegan Road. Indianapolis-based Adams French Properties LLC owns the land and seeks to build a three-story self-storage facility with retail and office space on the first floor. Source: Bugle Newspapers
5995 Naperville Self Storage LLC received approval from the Naperville, IL, Planning and Zoning Commission for a rezoning of a 1.3-acre parcel, and next will seek approval from the Naperville City Council. The company wants to build an 84,477-square-foot building at 2708 Forgue Drive, between Cantore and Leverenz roads. Most of the building would be three stories; the east portion would be two. Source: Inside Self-Storage
Greystone Holdings LLC, a developer of self-storage facilities, has bought two vacant properties in Antioch and Gilroy, CA, for about $6.25 million. These include a 6.68-acre parcel at East 18th Avenue and Vineyard Avenue in Antioch, and a 4.59-acre parcel at 9080 San Ysidro Ave. in Gilroy. The previous owners planned to build self-storage facilities, but decided to sell the properties instead. Source: Inside Self-Storage
The Cobb County Georgia Board of Commissioners approved two rezonings that will allow a self-storage facility and townhomes to be developed at a former Target store site at Hurt Road and Floyd Road. The site has 4.98 acres and 100,000 square feet. The self-storage facility will be built where the store was, and the townhomes will go in an adjoining parking lot of 7.31 acres. Source: ajc.com
Under construction
Cascade Self Storage is building a 750-unit storage building complex at 1910 NE Diamond Lake Blvd. in Roseburg, OR. Completion is expected in spring 2018. Cascade is based in Novato, CA. It has built two other Cascade Self Storage facilities in Roseburg. Source: The News-Review
Extra Space Storage will operate a 1,000-unit self-storage facility on the first floor of a renovated Milwaukee, WI, building that also will house a new Milwaukee Brewing Co. brewery, 50,000 square feet of retail space and an event venue. The building, at 1131 N. 8th St., formerly served as a Pabst distribution facility. Source: Urban Milwaukee
Completed
Scenic City Self Storage opened Sept. 1 in Chattanooga, TN, with 34,270 square feet of storage space in 250 units. Pratt Home Builders owns and developed the facility at 1730 Dayton Blvd. Absolute Self Storage, which operates four facilities in Chattanooga and 23 in the state, will manage the facility. Source: Inside Self-Storage
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