Update 1/21/22 – Smithfield Self Storage received approval to move forward with its expansion in Smithfield, Virginia. Owner Trey Gwaltney received a waiver that’ll allow a 1.13 floor-area ratio. The 46,200-square-foot addition will more than double the facility’s square footage.
To make space for the expansion, Gwaltney plans to remove five rows of existing drive-up units, which is one more than what was originally stated in his December proposal. He must also present a landscape plan to the commission.
1/7/22 – The Kirksville City Council unanimously approved a special-use permit on Dec. 27 that will allow Smartlock to convert the Gordmans and JC Penney retail spaces to self-storage. The approval came a week later than expected after officials decided to formally differentiate between interior and exterior unit access in its C-1 and C-3 zones. Smartlock President Jonah Hall indicated the company will invest about $1.4 million to develop the project over the next several months.
Though some residents and councilmembers had concerns about the number of workers the self-storage facility will employ, the council was encouraged by the employment prospects of other businesses that could be lured to the Kirksville Renaissance Shopping Center. Smartlock may ultimately rearrange or move current spaces to allow for more development. It’ll work to keep the current tenants while exploring additional business opportunities, Hall said.
12/16/21 – 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 additional activity taking place in December 2021.
A Little More Space Stevenson LLC received a special exception that’ll allow it to develop its first self-storage facility, on the former Stevenson Lumber site in Monroe, Connecticut. The 4.5-acre project at 1585 Monroe Turnpike involves the conversion of an existing warehouse into a 161-unit, climate-controlled building and the construction of five other structures comprising 90 units. Expected to be complete next year, it’ll be the third business to open at the former lumber site as part of the town’s revitalization efforts for the property. A Little More Space is owned by Jill Kimball, her son, Jack, and daughter, Elizabeth. It’s a subsidiary of Kimball Family Investments LLC.
Aberdeen Management & Development (AMD) and Mangat Group are building Arizona Self Storage in Peoria, Arizona. Planned for the southwest corner of Arizona State Route 101 and Olive Avenue, the four-story facility will comprise 122,000 gross square feet in 875 storage units. Expected to open in October 2022, it’ll be designed by RKAA Architects and constructed by Campbell Development. Tony Mangat, owner of Mangat Group, will be a co-owner, while AMD will oversee development and operate the facility once complete. AMD manages nine facilities under the Arizona Self Storage brand. Based in Glendale, Arizona, Mangat is a land-development company with more than 15 years of experience with various development projects.
ARCO/Murray Design Build finished construction on a Public Storage facility in Eastvale, California. The four-story building at 6301 Archibald Ave. was built in a partnership with Clark Investment Group, a real estate investment firm specializing in self-storage. It comprises 156,000 square feet of climate-controlled storage and a 1,300-square-foot front office. The building also has sustainable features including low-emitting material finishes and rooftop solar panels, which earned it the Leadership in Energy and Environmental Design (LEED) Gold Certification. It also features a mural commissioned by California artist Maxfield Bala of Bala Creative. ARCO/Murray provided architectural and engineering design, permitting, and construction. Preston Brown served as the project manager, while Jerry Kuchenbrod was the superintendent. Public Storage is a self-storage real estate investment trust (REIT) and management company that has interests in 2,678 self-storage facilities in 39 states, with approximately 186 million net rentable square feet.
The Des Moines, Iowa, City Council approved $1.2 million in incentives that will allow Des Moines Climate Controlled Self Storage to develop a pair of four-story structures in the city’s Market District. Construction on the first building at 503 S.E. 12 St. will begin next spring, with the second structure will be developed over the next four years. The $15.5 million project is part of a $750 million revitalization plan for the district, which will also include entertainment venues, housing, hotels and office space. The city is selling about 2 acres to house the self-storage facility. Des Moines Climate Controlled is owned by local businessman Mark Bockenstedt.
Diamond Point Development is looking to tear down the former Osho Japanese Restaurant in Poughkeepsie, New York, and build a four-story self-storage facility in its place. Built in 1960 on nearly 2 acres, the 10,000-square-foot existing structure at 1998 South Road has been vacant since 2017. The planning board is expected to review design plans this week. Based in Atlanta, Diamond Point has developed seven self-storage facilities and has additional projects in Massachusetts and New York.
Planning and architecture firm Keller Inc. received approval to construct Goeman’s Self Storage in Hartford, Wisconsin. Plans for the 2.4-acre property off Kettle Moraine Road call for three buildings, one of which will comprise 12,015, with the others containing 10,000 square feet each. One structure will offer 19 units designed for vehicle storage. A fourth building has been approved and will be developed during a future phase. The facility is expected to open in late 2022.
LSC Development LLC completed construction of a self-storage facility in the Hell’s Kitchen neighborhood of Manhattan, New York. The building at 622 W. 51st St. comprises 151,613 net rentable square feet in 2,707 units. Designed by SGW Architecture & Design, the property will be managed by REIT Life Storage Inc. and branded under its name. Based in Barrington, Illinois, LSC focuses on the acquisition, development and ownership of commercial and self-storage properties.
Patriot Holdings LLC intends to develop a self-storage facility on 8.5 acres in Bernardston, Massachusetts. The 10-building project at 107 and 111 Northfield Road would comprise 39,975 square feet of storage space. With the site plan already approved by the conservation commission, the planning board is considering a special-use permit for the project. The two-parcel site is between a Dollar General store and a marijuana-growing facility. Based in Las Vegas, Patriot specializes in industrial parks, mobile-home communities and self-storage. It has more than $150 million in assets under management.
Real estate developer Butch Peri intends to develop a self-storage facility in Gardnerville, Nevada. The project would comprise 79,215 square feet of interior self-storage and 60,300 square feet of covered RV storage on 25 acres at 1608 Pinenut Road. Though the Gardnerville Town Board voted 5-0 against the project last month, largely due to design objections, the planning director referred the proposal to the Douglas County Planning Commission for another design review. Peri has submitted revised renderings addressing the town’s concerns, including a new color scheme and updates to the facade.
Norway-based Self Storage Group ASA (SSG) has purchased a property for NOK 7.1 million in Arendal, Norway, on which it plans to build a new location. Expected to open in the fourth quarter of 2022, the 9,149-square-foot facility on Molandsveien 339 will operate under the company’s OK Minilager brand. SSG operates 126 facilities across Scandinavia under the City Self-Storage and OK Minilager brand names. Its portfolio comprises 165,300 square meters.
Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust (REIT) Public Storage, opened a new facility in the Bow district in London. The six-story building comprises 8,000 square meters in 1,400 units. It’ll include a biodiverse brown roof, rooftop solar panels and electric-car charging stations. This is the 40th Shurgard location in the London market and the third property the company has opened in the last two weeks, with the others in Berlin and Paris. Shurgard’s total portfolio includes 255 properties comprising more than 1.3 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the U.K.
Smartlock Self Storage intends to convert former Gordmans and JC Penney retail spaces to self-storage in Kirksville, Missouri. The planning and zoning commission this week approved a resolution to allow self-storage conversions of retail properties with a special-use permit and granted one to Smartlock. The city council has final say in project approval and is expected to review the proposal on Dec. 20. Smartlock intends to buy the entire shopping center if its proposal is allowed to proceed. The company operates three fully automated facilities in Bridgeport, Hillsboro and Temple, Texas.
The Smithfield, Virginia, Planning Commission delayed its decision on whether to grant a waiver that would allow Smithfield Self Storage to expand its location at 201 Battery Park Road. The storage operator has proposed a three-story addition comprising 39,150 square feet, but the 1.03 floor area ratio (FAR) on the 1.47-acre parcel exceeds the permissible FAR of .5 under the town’s ordinance. Smithfield Self Storage received a FAR waiver in 2017 when it built its current three-story structure comprising 23,000 square feet. The company wants to expand the property because all 145 units leased up within its first 10 months. An initial motion to approve the waiver failed in a 3-4 vote before planners decided to table a final decision until January. If the commission denies the waiver, Smithfield Self Storage could appeal to the city council.
True Storage, which develops and owns self-storage, opened a facility in new Bedford, New Hampshire, it’s sixth location in the city. The property at 969 Shawmut Ave. was converted from a former recycling-transfer station. Offering 627 climate-controlled units, it’s managed by REIT Extra Space Storage and branded under its name. Based in Manchester, New Hampshire, True Storage develops ground-up and conversions along the Eastern seaboard and Midwest. All the properties are managed by national self-storage brands.
Phoenix-based U-Haul International Inc. is converting a former Kmart store in Butte, Montana, to self-storage. Once complete, the 7.89-acre property at 3300 Harrison Ave. will offer more than 600 indoor, climate-controlled units. U-Haul owns 12 facilities in the state. Established in 1945, U-Haul owns and manages more than 72 million square feet of storage space nationwide.
A proposal for a self-storage facility in Woodbury, Connecticut, was approved by the Inland Wetlands and Watercourses Agency. Plans for 466 Main St. N. include 31,670 square feet of storage.
12/2/21 – 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 2021.
Asset Realty & Construction Group Inc. and affiliate Renard Management intend to develop a self-storage facility on a site that borders Elmsford and Greenburgh, New York. The five-story structure at 42 Hayes St. in Greenburgh and 44 Hayes St. in Elmsford would comprise 140,000 square feet. It requires approvals from both municipalities. Though the site is zoned as light industrial, which allows self-storage in both towns, the Greensburgh code is more restrictive than Elmsford and would require several variances on that portion of the property, according to the developer. Based in Brooklyn, New York, Asset Realty is a full-service real estate development and investment firm. Renard is a management company based in Yonkers, New York.
David Miles, owner of BDM Development LLC and Storage Time in Conyers, Georgia, received zoning approval to build a second location in the city. The 6.6-acre site at 2101 E. View Parkway is in the Quigg Branch Business Park. Opened in 2015 at 1050 Flat Shoals Road S.E., Storage Time offers climate-controlled and drive-up units.
Global investment firm Blackstone Group Inc. is converting a seven-story industrial building in the Shau Kei Wan neighborhood of Hong Kong to self-storage. The company purchased the 69,680-square-foot Elegance Printing Centre at 8A Kung Ngam Village Road for HK$500 million from the family of property investor Tang Shing-bor, who died earlier this year. Blackstone also partnered with Asia-based Storefriendly Self Storage Group to open a new facility in the Kwun Tong district of Hong Kong last month. Headquartered in New York, the company invests across alternative asset classes on behalf of pension funds and other institutions. Its investments are in Asia, Europe and the United States.
Boise, Idaho-based commercial real estate developer Braintree Properties LLC and partner San Jose 4 Storage Inv LLC intend to build a multi-story self-storage facility in East San Jose, California. The partnership recently acquired the .76-acre site on Capitol Avenue, just north of McKee Road. The transaction was contingent on approval to build a facility comprising at least 70,000 square feet. It’ll be part of a mixed-use project that’ll also include commercial retail, a medical-office building and townhomes. The $2.4 million land parcel was purchased from City Ventures Homebuilding LLC and The Charter School Fund LLC, which were represented in the transaction by Colliers Self Storage Group.
A joint venture between DXD Capital and InSite Property Group is building a self-storage facility in Kapolei, Hawaii. The 2.34-acre parcel in the Kapolei Business Park was acquired through the $50 million DXD Self Storage Fund I, which was launched in November 2020 to primarily invest in multi-story self-storage nationwide. Construction on the 853-unit facility will begin in August, with opening scheduled for September 2023. InSite will develop and operate the asset under its SecureSpace brand. Based in Albuquerque, New Mexico, DXD is a real estate and private-equity firm that leverages data technology to make opportunistic investments. InSite is a vertically integrated self-storage developer, manager and operator. It owns 16 facilities in nine states.
Go Store Self Storage completed an expansion of its facility in York, England. The property on Monks Cross Drive comprises 45,000 square feet in 950 units. The company secured a seven-figure funding package from lender HSBC UK as well as £150,000 for ongoing capital improvements. Go Store has a second location under development in Kettering, England.
Louisa Mini Storage intends to build a facility in Louisa County, Virginia. The site near the intersection of Davis Highway and Industrial Drive would comprise 72,000 square feet of self-storage. The project would require a zoning change on 4.6 acres from agriculture to general commercial. During a Nov. 18 meeting, the planning commission expressed concern that the transition could eventually allow a higher-impact use like a grocery store. Planners indicated they needed more time to review the list of by-right uses allowed under C-2 zoning. Louisa Mini already operates a facility in Ruckersville, Virginia.
Developer Adam Parker received zoning approval to construct a mixed-use building in West Burlington, North Carolina, that’ll include retail and self-storage. Plans for the 1.87-acre parcel at 4183 S. Church St. include a three-story, 73,300-square-foot structure of which 85% will be reserved for self-storage.
Norway-based Self Storage Group ASA (SSG) has purchased a property in Trondheim, Norway, for NOK 17 million on which it intends to build a new facility. Expected to open in the second quarter of 2023, the 1,550-square-meter building on Nordslettvegen 4 B will operate under the company’s OK Minilager brand. The central location is near residential communities, including student housing.
SSG is also building a new facility in Vestby, Norway. The company purchased the property at Deliveien 21 for NOK 15.6 million. Expected to be complete in early 2023, the facility will comprise 16,145 square feet and operate as City Self Storage. SSG operates 126 facilities across Scandinavia under the City Self-Storage and OK Minilager brand names. Its portfolio comprises 165,300 square meters.
Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust (REIT) Public Storage, opened a new facility in Morangis, France. The property comprises 5,700 square meters in 850 units. Shurgard operates 42 locations in the Paris market, with four development projects in its pipeline.
Shurgard also opened a new location in Berlin. The newly constructed facility comprises approximately 5,700 square meters in about 1,000 units. It’s the company’s sixth site in the Berlin market. Shurgard’s total portfolio includes 254 properties comprising more than 1.3 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the U.K.
SmartStop Self Storage REIT Inc. built and opened a new self-storage facility in Scarborough, Ontario, Canada, in partnership with SmartCentres. It’s the fifth development between the companies. The five-story structure at 799 Milner Ave. comprises 99,000 square feet in 980 units. SmartStop is a diversified real estate company that manages a portfolio of 159 self-storage facilities in Canada and the United States. Its properties comprise approximately 12.3 million rentable square feet. SmartCentres develops urban, mixed-use residential and industrial developments.
Real estate investment firm Treetop Development is seeking approval to build self-storage in Congers, a suburban hamlet in Clarkstown, New York. Plans for the 6.4 acres at 287 N. Route 303 include a three-story building comprising 67,000 square feet, and two two-story structures containing a combined 23,000 square feet. Landowner Stanley Acker Ltd. Partnership sold the three parcels to 287 N. Route 303 LLC, a Treetop affiliate, for $1.8 million in September 2020. Based in Teaneck, New Jersey, Treetop is operated by Azi Mandel and Adam Mermelstein
Phoenix-based. U-Haul International Inc. is converting the former James E. Pepper whiskey rickhouse in Lexington, Kentucky, to a mixed-use property that’ll include retail and self-storage. The company purchased the property at 1170 Manchester St. last month. Built in 1933, the 197,504-square-foot building sits on nearly 8 acres. First-floor tenants Battle Axes, Brevede Coffee Co., Old Wm. Tarr Distillery and Rickhouse Pub will remain at the site. Once complete the building will offer 1,400 storage units on the upper floors. Established in 1945, U-Haul owns and manages more than 71 million square feet of storage space nationwide.
Ziff Real Estate Partners intends to develop self-storage on a 6-acre lot it recently acquired in Deltona, Florida. The Doyle Road project would include seven single-story buildings offering a total of 584 units. This is the second land purchase the company has made under its Storage Opportunity Fund, which launched last month. Founded in 1991 and based in Charleston, South Carolina, Ziff invests in office, retail, self-storage and small-bay warehouse properties.
Kirksville Daily Express, Council Approves Permit to Turn Former JC Penney, Gordmans Stores Into Indoor Storage Business
KTVO, Plan for Climate-Controlled Storage Units in Kirksville Hits Small Speed Bump
The Smithfield Times, Smithfield Self Storage Allowed to Expand
Axios, Des Moines Storage Project Lands $1.5 Million Incentive
GM Today, New Hartford Storage Business in Store
Greenfield Recorder, Bernardston Planning Board to Consider Proposed Construction of 10 Self-Storage Buildings
KTVO, Plans for Climate-Controlled Self-Storage Units in Kirksville Clear Another Hurdle
Market Screener, Self Storage Group ASA - Acquisition of new property in Arendal, Norway
Peoria Times, Arizona Self Storage Begins Construction
PR Newswire, U-Haul Repurposing Former Kmart for First Company Store in Butte
The Monroe Sun, A Self-Storage Facility Is Coming to the Stevenson Lumber Property
The Record-Courier, Storage Project Up for Hearing on Tuesday
The Smithfield Times, Town Planners Table Self-Storage Expansion
Voices News.com, Woodbury Wetlands Members Approve Self-Storage Facility
WPDH, New Plan Revealed for Huge Abandoned Route 9 Restaurant
Yahoo News, A New Self-Storage Facility Has Opened in New Bedford
Business Wire, SmartStop Self Storage REIT, Inc. Opens Newly Constructed Facility in the Greater Toronto Area
Market Screener, Self Storage Group ASA - Acquisition of New Property in Trondheim, Norway
Market Screener, Self Storage Group ASA - Acquisition of new property in Vestby, Norway
Mingtiandi, Blackstone Buys Hong Kong Industrial Building for Self-Storage JV
RE Business Online, DXD Capital, InSite Property Group Purchase Land Site in Oahu for 853-Unit Self-Storage Facility
Rockdale Newton Citizen, Conyers Approves Rezoning for Mini-Warehouse Development
Rockland County Business Journal, Self Storage Facilities Proliferating in the COVID Era; Companies Eye Rockland for Development
The Almanac News, City Council OKs Self-Storage Center in West Burlington Near Ashley Woods
The Business Desk, Funding Package Helps Develop 45,000 Sq Ft Storage Centre
The Central Virginian, Vulgar Signs Will Be Considered at Public Hearing, Mini Storage to Come Back Next Month
U-Haul, Preserving Lexington: U-Haul Shares Plans for Historic Whiskey Rickhouse
Westchester & Fairfield County Business Journals, Self-Storage Project Straddles Border Between Elmsford and Greenburgh