Veneto West Properties, a self-storage owner, developer and management firm, has broken ground on Gilroy Self Storage Outlet in Gilroy, Calif. The $12 million project is expected to open early next year, according to the source.
The 4.5-acre property at 9080 San Ysidro Ave. will feature six single-story buildings containing 793 storage units. It’ll also include a two-story office and residence for the onsite manager. The site will include a perimeter wall, electronic gate access and video cameras.
The facility is being developed by principal investors Ted Crocker, CEO and president of Darme Holding Co. Inc., and Veneto managing partners George Huff and Sean Venezia. Newmark Realty Capital Inc., a Phoenix-based mortgage and banking firm, provided the financing.
“We plan to build this and operate it in our family as an investment we can keep forever,” Venezia said. “We don’t buy and flip, or build and sell.”
Veneto is also building Oakley Gateway Self Storage in Oakley, Calif. Once complete, the project will include 78,771 square feet of storage space in 810 units.
Veneto develops, owns, operates and manages self-storage facilities in East Texas and the San Francisco Bay Area. Its California facilities include Anchor Self Storage in Vallejo, Empire Mini Storage in Cloverdale and Point Richmond Self Storage in Richmond. In Texas, it operates five AAA Self-Storage locations in Lufkin and its surroundings. It also provides third-party management for two sites in Danville and Middletown, Calif, according to its website.