A pair of three-story self-storage facilities is being planned for Bend, Ore. Seattle-based investment firm Columbia Pacific Advisors LLC expects to begin construction during the third quarter on a 107,000-square-foot facility at 2705 N.E. Fourth St., and Northwest Self Storage is in preliminary discussions to develop a 58,000-square-foot location on the west side of N.E. Third St., according to the source.
The Columbia Pacific facility will include 820 climate-controlled units on 1.7 acres. The company acquired the property last year for $1.2 million through its affiliate OR Bend Self Storage LLC. The project is part of a plan to build about 6,000 storage units in Colorado and the Pacific Northwest, company spokesperson Ashley Bach told the source.
Northwest Self Storage paid more than $1 million in December for its 1-acre parcel on Third Street. In addition, the company intends to expand its Old Mill Self Storage location on S.W. Industrial Way, according to Leonard Waggoner, a site consultant for the company. “We’re building what we think the market needs and can absorb,” added Nate Schwalbach, vice president of operations.
Population growth in Bend has spurred interest from several self-storage developers. Investor Scott Cassidy earlier received city approval to build about 150,000 square feet of storage on N.E. Fourth Street but halted the project when Columbia Pacific moved forward with its plan, he told the source. “We’re going to see the performance of those that go in and go from there,” Cassidy said.
An unidentified developer has also submitted plans to build a storage facility with 11 buildings at the southeast corner of Cooley Road and N. Highway 97. The project is under administrative review, the source reported.
Columbia Pacific maintains a diversified portfolio across multiple sectors. Its real estate interests include hospitality, industrial, multi-family, office, retail, self-storage and senior-housing properties.
Based in Clackamas, Ore., Northwest operates 78 self-storage facilities in Oregon and Washington. Along with sister company Kevin Howard Real Estate, the firms specialize in self-storage services in the Pacific Northwest. The family-owned and -operated Northwest was founded by Kevin Howard more than 30 years ago. It specializes in self-storage consultation, brokerage, design and development, operation, and property management.
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