Update 12/20/19 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is more activity taking place in December 2019.
Advantage Self Storage is facing opposition from one planning-board member in its quest to build a facility in Tiverton, R.I. Amanda Souza, who was appointed to the board earlier this year, walked out of a recent meeting during a discussion of the project. Souza said she was “disgusted” with all the development in the town and called the proposed 100,000-square-foot facility an eyesore. The project is consistent with the zoning and planning guidelines and was supported by other board members, according to a source. The three-story building would contain 800 units and a partial basement. The planning board could vote on the project’s master plan on Jan. 7.
Compson Development, a multi-generational, family-owned company based on the East Coast, is constructing a ground-up facility in McLean, Va. Once complete, the building at 1315 Beverly Road will comprise 54,305 net rentable square feet in 599 climate-controlled units. It’ll be managed by self-storage real estate investment trust Extra Space Storage Inc. and branded under its name. The $12 million loan was arranged by Kim Bishop, Jim Davies, David DiRienzo, Lauren Maehler and Eric Snyder of Talonvest Capital Inc., a boutique self-storage and commercial real estate advisor. The nonrecourse, 10-year, fixed-rate, interest-only loan was funded by a commercial mortgage-backed securities lender.
Drury Properties Inc. is developing a three-story Sixty5 Self Storage facility in Springfield, Mo. The structure at 2107 S. Eastgate Ave. will comprise 88,000 square feet in 627 units. Derington Architects LLC designed the $3 million project. Rich Kramer Construction Inc. will serve as general contractor. Drury is based in Springfield.
Canadian self-storage operator Dymon Storage Corp. received initial approval to build it 12th facility in Ottawa, Ontario, despite opposition from one councilmember and a few residents. The committee voted 4-3 on Dec. 12 to rezone the 1.13-hectare plot at 1375 Clyde Ave. to allow for six-story self-storage building. Knoxdale-Merivale Councilmember Keith Egli, who represents the ward but isn’t on the committee, argued the land could be used for housing, parks or mix-used development. The project will also contain ground-floor retail and a drive-through restaurant, which city planners believed added to its appeal, according to a source. The proposal will be considered by the city council on Jan. 29.
Chicago-based real estate developer Farpoint Development LLC will convert a former Sears location in the city’s Avalon Park neighborhood to self-storage. The developer worked with the city for nearly two years to find a grocer, retailer or restaurant to fill the space without success. It received a building permit in September to convert the structure’s interior. The property at 1334 E. 79th St. is already zoned for self-storage, though it isn’t clear if the entire two-story building will be used for that purpose. The historical structure features a “signature tower” that’s similar to other area buildings developed in the 1920s. It’s been vacant for six years. Founded in 2016, Farpoint specializes in commercial projects.
Madison Capital Group intends to convert a former Sears store in Bradenton, Fla., into a Go Store It self-storage location. The 96,685-square-foot building is part of the DeSoto Square Mall. It was a Sears from 1973 to early this year. Madison has applied for a permit through affiliate MCG Bradenton Sears LLC to demolish and renovate the interior. The mall’s owner, DeSoto Owners LLC, is facing a foreclosure lawsuit, with a half-day trial set for Jan. 30. Based in Charlotte, N.C., Madison specializes in the acquisition, development and management of self-storage assets throughout the county. It operates 38 Go Store It locations nationwide.
Mike Price, owner of MAP Engineers, is seeking zoning approval to convert a former “borrow pit” in Chattanooga, Tenn., into self-storage. The property on East Brainerd Road near Banks Road is zoned for duplexes, mobile homes or farming. However, the pit had been excavated and then refilled, making it unsuitable for residential development, Price said. Storage would be built at the front of the property while small warehouses would be constructed at the rear. The existing entrance would be redeveloped. Founded in 1996 in Chattanooga, MAP has completed more than 1,600 engineering projects in Alabama, Georgia, Mississippi and Tennessee.
Metro Storage LLC, which operates more than 135 self-storage properties in 14 states under the Metro Self Storage brand, opened new facilities in Line Lexington, Pa. and Westhampton Beach, N.Y. The two-story Line Lexington location at 4671 County Line Road comprises 79,383 rentable square feet in 785 units. It’s the company’s 11th facility in Pennsylvania. The Westhampton Beach facility at 105 Old Riverhead Road comprises 70,000 rentable square feet in 689 units. It’s Metro’s fifth location in New York. Both properties were developed in partnership with Fremont Realty Capital. Headquartered in Lake Forest, Ill., Metro specializes in the acquisition, development and management of self-storage facilities in Brazil, Central America and the United States.
Neighborhood Self Storage, which operates seven facilities in Virginia, has broken ground on a new facility in Zion Crossroads, an unincorporated community in Fluvanna and Louisa Counties, Va. Zion Crossroads Mini Storage will contain five buildings comprising 43,000 square feet of storage. The 7-acre property is across from James Madison Highway near a Walmart distribution center. Two acres will be reserved for future retail development. The general and site-development contractors are Harman Construction Co. and Momentum Earthworks.
Shurgard opened a new self-storage facility in London, received a building permit in East London and acquired an existing operation in the Netherlands. The new location in the Herne Hill area of London opened on Dec. 14 on Dylan Road. The four-story facility comprises more than 1,000 units. The company will develop a multi-story facility in Barking that will comprise about 74,000 square feet in more than 1,100 units. It's expected to be complete by the end of next year. The company rebranded its €7.1 million acquisition of Grepu Vastgoed in Nieuwegein, Netherlands, on Dec. 18. The facility is Shurgard’s 63rd in the region and will serve as an extension of an existing property in the city. It comprises approximately 3,800 square meters in about 600 units.
Steven Schwartz has proposed developing a mixed-use project that would include self-storage, a carwash and a fast-food restaurant on land he owns in Algonquin, Ill. Plans for 2075 E. Algonquin Road, which formerly housed a Brunswick Zone bowling alley, also call for outdoor vehicle storage. The remainder of the 5.3-acre property, which has been vacant for 10 years, would be divided into two lots fronting East Algonquin Road, according to city senior planner Ben Mason. An automated carwash would replace Brunswick Zone's miniature-golf course and batting cages, while a Popeyes Louisiana Kitchen would be built on the second parcel. The village board was expected to review the redevelopment plans this week.
StorageMart, which operates more than 200 self-storage properties across Canada, the United Kingdom and the United States, completed the expansion of its Shrub End Road location in Colchester, England. The project doubled the rentable space of the facility, including the addition of a broader selection of large units on the ground floor. The phase-two renovation also added a second elevator and two loading areas. Founded in 1999 and based in Columbia, Mo., StorageMart is privately owned and operated by the Burnam Family, which has been in the storage industry for three generations. Its portfolio consists of more than 16 million square feet of storage.
Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America and frequently recycles existing structures for its new locations, has converted a former 102,190-square-foot Kmart store in West Pensacola, Fla., to self-storage. The facility at 4211 Mobile Highway contains more than 800 indoor climate-controlled units.
U-Haul is also transforming a former Kmart in Jackson, Tenn. The storage facility at 732 Old Hickory Blvd. began operating out of a temporary showroom in 2018. The conversion includes adding 800 interior storage units, a new retail showroom, hitch bay and other service areas were completed last month. Originally constructed in 1974, the 91,772-square-foot building became vacant in 2017.
In addition, U-Haul is expanding in Springfield, Mo., by converting to self-storage a former Porsche dealership across the street from its facility at 3150 S. Campbell Ave. Once complete, the building will contain 722 indoor self-storage units. The existing site opened in 1977 and will now serve as offices for the company’s regional marketing and reservations departments, and a warehouse for U-Box portable-storage containers. Established in 1945, U-Haul owns and manages more than 62.5 million square feet of storage space nationwide.
Gary Van Cleave is developing Vineburg Wine and Self Storage on a 4.71-acre property he owns in Sonoma, Calif. Expected to be complete next summer, the facility at 1010 Napa Road will comprise 65,000 square feet in 270 climate-controlled and drive-up units. It’ll also contain 1,500 square feet of wine lockers and 3,000 square feet for bulk wine storage on pallets, plus more than 70 vehicle-storage spaces. Van Cleave purchased the property in 2016 for $2 million. He also owns a seamless-gutter company in Cotati, Calif.
12/9/19 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is activity taking place in December 2019.
New York City real estate development firm Criterion Group LLC has two self-storage projects underway in New York. The first is a three-story facility at 2924 Eighth Ave. in Upper Manhattan that’ll comprise 110,000 square feet. The site, currently a parking lot, is between West 154th and 155th Streets, near the Harlem River Drive. The three parcels are owned by 280 W. 155 St. Owner LLC. The company is also building a 51,426-square-foot location in Long Island City, N.Y. The nine-story facility at 31-08 Northern Blvd. is expected to be complete in 2021. The $28 million development loan was provided by Columbia Pacific Advisors (CPA) Bridge Lending, a platform within CPA led by managing director Billy Meyer. Founded in 2002, Criterion owns a portfolio containing 2.25 million square feet of real estate including 2,400 apartments, primarily in Long Island City and Astoria in Queens, N.Y. The company is led by founder and principal Shibber Khan.
Developer William Ferrelli and architecture firm Robbie Conley Architect LLC were denied a variance last month to build a 35,000-square-foot facility containing 252 units in Glassboro, N.J., after residents protested the project. The proposal was for land across from the Village Grande at Camelot, a 55-plus community. More than 100 people, many from Village Grand, attended the Nov. 21 public hearing. The board voted 4-2 against the application, with one member abstaining because he lives in the adult community. The developer requested variances for the landscape buffer, setback from the road and zoning.
GYS Development LLC, a vertically integrated self-storage development and acquisition firm, will break ground this month on a three-story facility in Erie, Colo. The facility at 1012 Carbon Court is expected to be complete in late 2020. It’ll comprise 101,202 square feet in 644 units on the second and third floors, and 7,800 square feet of commercial space on the first floor. The project is being built by GYS General Contracting. GYS Development partnered with All Pro Capital on sourcing the debt and equity. GYS is a division of Grow Your Storage LLC, a Texas-based property-management firm.
Jebsen Capital opened its fourth MiniCC Storage location in Shanghai, China. The facility at 2212 Caoyang Road is on a commercial corridor. MiniCC began in Germany and opened its first Shanghai facility in 2012. Its sister company, MyPlace, was founded in 1999 and operates about 60 self-storage facilities across Europe. Jebsen Capital is the investment division of the Jebsen Group, a China-based marketing, distribution and investment firm. It has affiliate companies in Australia, Denmark, Germany and Southeast Asia.
Kossman Development is redeveloping the Perry Shops on Perry Highway in Ross Township, Pa., into a mixed-use project that’ll include a four-story apartment building, self-storage, retail, a restaurant and pharmacy. Called “The Ross,” the project received mixed reviews after town commissioner Jeremy Shaffer posted renderings of the proposed development on his Facebook page. Commissioners have yet to take action on the project, according to a source. Founded more than 70 years ago and based in Pittsburgh, Kossman has a diverse portfolio of properties in all real estate categories.
Lighthouse Self Storage, which operates seven locations in California and Florida, will celebrate the grand opening on Dec. 10 of a new location at 11060 Griffin Road in Cooper City, Fla. The event will include facility tours, free food and beverages, prizes, and pictures with Santa Claus. A toy drive will also be hosted in partnership with the Broward Fire Department. Guests include the Cooper City Mayor and members of the city council.
Lock Stock Self Storage, which operates 16 container-based self-storage facilities across Mid and North Wales, received approval from the Flintshire County, Wales, Council to open a location in the Interlinq Trade Park in Pentre. The facility will initially open with eight, 1,280-square-foot containers converted to offer flexible business, storage and office space. It’ll also serve as a regional hub for the company’s van-rental service. Founded in 1999 by brothers Nick and Shon Powell, Lock Stock is based in Denbigh, Wales. The family-operated business also provides moving services through its “Take Stock” van fleet.
Peckville Self Storage added two new buildings containing 160 units to its facility at 50 Sturges Road in Blakely, Pa. The operator recently hosted a ribbon-cutting ceremony that was officiated by members of the Greater Scranton Chamber of Commerce and Blakely Mayor Jeanette Acciare-Mariani. Peckville opened in 2017 and has a sister site, Olyphant Self Storage at 1601 E. Lackawanna Ave. in Olyphant, Pa., that opened in 2006.
R.J. Kelly Co. Inc., which owns eight Stor-U-Self locations in Connecticut, Massachusetts and New Hampshire, received initial approval last month to covert the Plymouth Sports Complex in Plymouth, Mass., to self-storage. Plans for the building at 8 Natalie Way include adding 122,356 square feet of storage and 5,965 square feet for offices. Vehicle storage could also be added to the parking lot if approved by town officials.
Robert High Development LLC intends to build a Save Green Self Storage facility in Boone, N.C. The $7.5 million project at the corner of East King Street and New Market Boulevard would be constructed on the site of a former Toyota dealership. The four-story facility would comprise 134,852 square feet in 990 units, with a maximum building height of 56 feet. The project would include construction of a connector road between Chestnut Drive and New Market Boulevard, which would be used for ingress and egress. The developer is under contract to acquire the property from Sky Country LLC. Save Green operates nine self-storage facilities in North Carolina.
Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., received building permits for two multi-story developments in the Paris market. In Argenteuil, France, the company will build a 7,000-square-meter facility comprising more than 1,100 units, while the project in Corbeil-Essonnes, France, will comprise 6,000 square meters in more than 800 units. The Argenteuil facility is scheduled to be complete late next year, while the Corbeil-Essonnes project is expected to open in mid-2020. Shurgard operates 236 self-storage facilities comprising 1.2 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom.
Signature Cos. is seeking zoning approval to build an office warehouse and an adjacent self-storage building in Pearland, Texas. The city council and the planning and zoning commission discussed the warehouse project for the corner of Farm to Market 1128 and Magnolia Street at a Nov. 18 public hearing but didn’t discuss the storage project pending further investigation from city officials. The first readings are scheduled for today.
Store Away Self-Storage intends to develop a new location on the site of the former Governors Motor Inn in Guilderland, N.Y. The single-story project on Western Avenue is within a local business zoning district, which requires a special-use permit for self-storage. The motel property suffered damage from a fire in 2010 and was taken over by Albany County Land Bank. Store Away has agreed to acquire the building for $150,000, contingent on project approvals. The development would require demolishing the inn as well as a neighboring residence. Store Away is a locally based company with two facilities in Altamont and Greenbush, N.Y.
Strategic Development Group LLC opened Red Mountain Self-Storage & RV in Mesa, Ariz. The facility, built on more than 4 acres at 5612 E. McDowell Road, comprises 91,500 square feet. It includes more than 40,000 square feet of covered RV storage. Designed by ARC Services Inc., the facility is surrounded by the Longbow Market Place and Business Center, a mixed-use commercial and industrial project. It’ll be managed by 180 Self-Storage LLC, a consulting management development firm based in Gilbert, Ariz.
Yahoo Finance, Talonvest Delivers $12 Million Loan for Compson Development
The Chattanoogan, Storage Units Planned on Former "Borrow Pit" Off East Brainerd Road
The Central Virginian, Self-Storage Business Breaks Ground in Zion
Daily Herald, How a Developer Plans to Revitalize a Former Algonquin Bowling Alley Site
Newport RI, Is Tiverton Becoming Over-Developed? One Planning Board Member Thinks So and Walked Out of a Meeting in Disgust
Ottawa Business Journal, In Tight Vote, Dymon Gets Approval for Storage Facility Near Merivale Road
Sonoma News, 270-Unit Storage Facility Going Up at Napa Rd. and Eighth St. East
PR Newswire, U-Haul Transforms Empty Kmart into New 800-Room Storage Facility
PR Newswire, U-Haul Adding 722 Self-Storage Rooms at Former Porsche Dealership
New Kerala, Adaptive Reuse: Jackson Gets New U-Haul Store at Old Kmart Site
Block Club Chicago, Old 79th Street Sears to Be Converted Into a Self-Storage Facility, Permits Show
Herald-Tribune, Former Bradenton Sears Being Converted Into Self-Storage
PR Newswire, StorageMart First Doubles Lettable Size of Colchester Self Storage Facility
PRWeb, Metro Storage LLC Opens Two New Self Storage Facilities
SBJ, From the Ground Up: Sixty5 Self Storage
The Real Deal, Criterion’s Next Self-Storage Site Will Be in Upper Manhattan
Commercial Property Executive, Criterion Group Receives $28M Refi for Self Storage Project
Patch, Ross Could Get New Residential, Retail Complex
The Valley Advantage, New Storage Units Ready for Use
Plymouth Local, Developer Eyes Plymouth Sports Complex for Self-Storage Facility
Community Impact Newspaper, Pearland City Council, Planning and Zoning Commission Discuss Office Warehouse Space
N.J.com, Glassboro Denies Variances for a Self-Storage Facility After Residents Voice Objections
Deeside, Plans to Create Storage and Office Space for Small Businesses on Deeside Given the Green Light
The Altamont Enterprise, Governors Motor Inn Has a Buyer at $150K
Watauga Democrat, Four-story, $7.5M Storage Facility, New Connector Road Proposed for Old Toyota Site