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Self-Storage Development and Zoning Activity: July 2019

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 July 2019.

A development proposal from 54 Cedar LLC has prompted the Batavia, N.Y., City Council to consider formally adding self-storage as a defined use in its municipal code. The resolution would permit self-storage in industrial zones with a special-use permit, though developments would have to be 100 feet from residential property.

Officials realized self-storage wasn’t defined when property owner Peter Yasses requested to build Cedar Street Self-Storage on a vacant, 8-acre site at 54 Cedar St. The phased project would include up to eight buildings. The facility, which is supported by the planning and development committee, would be built adjacent to a planned warehouse.

The city council will next address the topic on July 8. Ultimately, county planners will also have to sign off on the zoning change and project for it to go through. A public hearing and local law resolution would also be part of final adoption process.

Cyzner Properties, a New Jersey-based commercial real estate firm, received approval from the Branchburg, N.J., Zoning Board of Adjustment to convert a former Sun National Bank building into Arthur's Self-Storage. The 40-year-old building at 3421 Route 22 E., which sat empty for three years, is in an area targeted for multi-family housing. It’ll comprise 1,000 units and offer wine storage and safe-deposit boxes. The 25-acre site will also include 400 spaces for boats, RVs and other vehicles. The facility will be designed by Stephen Overcash of Overcash Demmitt Architects. Construction is expected to begin this fall and be complete by June.

Bernard Edelman, managing partner of Innovative Markets Inc., is seeking approval to build a four-story, mixed-use project in the Chicago neighborhood of Portage Park that’ll include self-storage and retail. The plans for 3633 N. Central Ave. include building a 110,000-square-foot storage facility with 13,000 square feet of ground-floor retail. It was approved by the planning commission last month and discussed during a June 25 zoning committee meeting. The 2-acre lot at the corner of Central and Waveland Avenues has been vacant since 2004. Innovative Markets purchased the property in 2017 for $1.6 million. The developer is requesting $3.3 million in tax-increment financing from the city.

Lake Geneva Self Storage LLC acquired an industrial facility in Lake Geneva, Wis., that it intends to convert to self-storage. The 68,000-square-foot building at 901 Maxwell St. sits on 5.7 acres. Kevin Barry, executive vice president of commercial brokerage The Barry Co., represented the seller, Everett Smith Group.

Larkspur Properties LP, an investment firm specializing in distressed commercial and residential properties, has opened Pearman Dairy Self Storage in Anderson, S.C. It acquired the Pearman Dairy Plaza shopping center at 1475 Pearman Dairy Road in 2017 and converted 60,000 square feet of interior space to self-storage. The company held a ribbon-cutting ceremony on June 20. Based in Miami, Larkspur owns real estate assets in Alabama, Florida, Indiana, Ohio, Tennessee and Virginia.

In a unanimous vote on June 18, the Waterville, Maine, City Council agreed to sell a tract of land it owns off Airport Road to Pondwood Self Storage for $70,000. The property was listed at $73,000. Pondwood plans to build a storage structure that’ll include warehouse space. A final vote will be required to finalize the sale.

RightAway Storage received a unanimous recommendation from the Leesburg, Va., Planning Commission for its proposed 105,500-square-foot self-storage development in the Tavistock Farms neighborhood. The nod came a year after the operator’s original proposal received 90 points of feedback from city staff, which prompted a collaborative effort between the operator and city officials. The town council will make a final determination on the 40-foot-tall structure, which requires a special exception. The site at the intersection of Sycolin Road and Tavistock Drive would be RightAway’s second location. The operator also has a self-storage facility in Baltimore.

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 the former 178,963-square-foot Kmart store at 7425 E. Washington St. in Indianapolis to self-storage. U-Haul Moving & Storage of Eastgate offers 598 interior storage units, truck rentals, moving and packing supplies, and other services. Originally constructed in 1969 on 12 acres, the building had been empty since 2014.

U-Haul is also repurposing a vacant Kmart in Santa Maria, Calif. The company purchased the property at 2875 Santa Maria Way for $6.5 million in January. The 13-acre site includes a 104,000-square-foot building and 700 parking spaces. U-Haul received a conditional-use permit on June 19 from the planning commission, allowing it to offer truck rentals, and moving and packing supplies. It’ll present its remodeling plans for the building at a future date.

U-Haul opened a temporary showroom offering truck rentals inside an empty Kmart store in Milton, Ala., while it converts the building to interior self-storage. The property at 6050 US-90 has been vacant for a year. The site is expected be fully operational in summer 2020.

U-Haul has completed its conversion of a Chevrolet dealership in Marietta, Ga. The company purchased the property at 900 Roswell St. in 2017. The 58,551-square-foot structure includes more than 400 self-storage units. A July 4 grand-opening event, 9 a.m. to 2 p.m., will include free food and facility tours. Established in 1945, U-Haul owns more than 38 million square feet of storage space nationwide.

Universal Storage Solutions (USS) is working with affiliate Universal Development & Construction (UDC) on a mixed-use project in Bristol, Tenn. Stafford Street Village near Route 126 and W. State Street will include about 140 apartments and townhomes, along with a self-storage facility. The complex will feature upscale residences, a swimming pool, playground and dog park. The self-storage component will be on the east side of Stafford Street. Construction is expected to be complete next year, according to partner Shane Abraham. Developer Mitch Cox Cos. is also a partner in the project.

USS and UDC are subsidiaries of Universal Cos., a diversified business group that also includes an equipment manufacturer and a wine and spirits retailer. USS also has self-storage facilities in Elizabethton and Johnson City, Tenn.

Sources:
Bristol Herald Courier, Early development of apartment complex underway along West State Street
Central Maine, Waterville City Council Takes First Vote to Sell Lot Off Airport Road
GSA Business Report, Pearman Dairy Self Storage Schedules Ribbon-Cutting Event
Larkspur Properties, Website
LoudonNow, Storage Facility Under Consideration in Tavistock
My Central Jersey, Branchburg: Route 22 Office Building Will Be 'Recycled' Into Self-Storage Facility
PR Newswire, Adaptive Reuse: Indianapolis Gets New U-Haul Store at Old Kmart Site
PR Newswire, Grand Opening: U-Haul at Roswell Street Offers 402 Self-Storage Units
RE Journals, Barry Company Sells 68,000-Square-Foot Industrial Property in Lake Geneva
Santa Maria Times, U-Haul Buys Santa Maria's Closed Kmart for $6.5 million
Santa Rosa Gazette, U-Haul Planning to Move Into Old Kmart Building
The Batavian, Zoning Change to Include Public Storage Units Advances; Yasses Looking to Build on Cedar Street
The Real Deal, Storage, Retail Could Give Portage Park Vacant Lot New Life After 15 Years

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