Update 3/18/19 – 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 March 2019.
The Garfield County Board of County Commissioners in Glenwood Springs, Colo., will consider two self-storage developments at its meeting tonight. The projects, Blue Mountain Storage and GO Self Storage, would be built along the Colorado State Highway 82 corridor. Together, the sites would comprise 200,000 square feet of storage. The Land Studio, a local landscape architecture and planning firm, is overseeing both projects. Blue Mountain is being developed by Aspen, Colo., entrepreneurs while GO Self Storage LLC operates a facility in Kansas City, Mo.
CH SS Fund-Nuvo Dev Palm Beach Gardens Riverside LLC, an affiliate of Winter Park, Fla.-based developer Nuvo Development LLC, has broken ground on a three-story self-storage facility in Palm Beach Gardens, Fla. The 3-acre property at 10384 Riverside Drive contains a warehouse, part of which will be repurposed into a 18,650-square-foot office. Once complete, the facility will comprise 99,183 square feet. Designed by Daniel H. Farmer, president of Farmer Architecture Inc., the project will be built by DeAngelis Diamond Construction, a Naples, Fla.-based self-storage builder. Branch Baking & Trust Co. provided the mortgage.
Eastchester Storage LLC has purchased a building in High Point, N.C., from HHG Real Property LLC for $4 million with the intent to convert it to self-storage. The two-story former headquarters for home-furnishing company Heritage Home Group comprises 94,760 square feet. Winston-Salem, N.C.-based Commercial Realty Advisors, the principal of Eastchester Storage, purchased the site through its affiliated entity Medical Realty Advisors LLC.
The Plainfield, Ill., Board of Trustees approved plans and a special-use permit for a self-storage and warehouse facility on about one acre along Lockport Street. A 2,000-square-foot warehouse will occupy the property, along with two self-storage buildings comprising 21 units each. Entrepreneurs Elena Gallo and Jim Kowalski are relocating their business to the site. The property will include 6-foot slatted fencing and the addition of trees around the perimeter. The site is adjacent to a quarry and railroad tracks, making it a good fit for storage, according to trustee Bill Lamb.
Miami-based self-storage owner Robert Lansburgh acquired a vacant Kmart building and an adjacent property in Jacksonville, Fla., through affiliate company Blanding Self Storage LLC. Though he’s open to other uses, Lansburgh intends to convert the 50-year-old retail structure at 4645 Blanding Blvd. to self-storage. In a separate deal, Blanding also purchased a plot north of the Kmart for a total acquisition of 9.88 acres. Other marketed uses for the site include a car dealership, retail or warehouse. The Kmart closed in January 2013. Lansburgh also reportedly owns Jacksonville Self Storage II LLC and operates self-storage properties in Jacksonville, Houston and Pembroke Pines, Fla.
Leon Capital Group, a Dallas-based real estate development and investment firm, is set to build two self-storage facilities in Portland, Ore., that will add 215,847 net rentable square feet to its portfolio. The project on S.E. Division Street will be built on 1.72 acres and comprise 113,155 square feet, while the one on S.E. Powell Boulevard will comprise 102,692 square feet on 1.57 acres. A 2-acre lot at the back of the Powell site was recently sold to Renaissance Homes, which builds luxury homes. Boutique real estate firm Talonvest Capital Inc. negotiated $23.7 million in construction financing on behalf of Leon Capital. The developer has more than $3 billion in completed real estate transactions and assets worldwide.
Development firm Parrish Building Co. LLC received approval from the Hoover, Ala., Planning and Zoning Commission last week to build a mixed-use project that would include a three-story self-storage facility and a retail strip center off Alabama Highway 150, near Ross Bridge Parkway. If approved by the city council, the storage facility would comprise 60,000 square feet while the retail strip center would contain 9,000 square feet. Construction would begin later this year and be complete in mid-2020, according to Zac Parrish, managing member of Parris Building.
Construction-business owners Ellie, Gary and Larry Duran have taken over the day-to-day operation of Poudre River Storage, which had been under third-party management since opening in October. The three brothers built the self-storage facility on a 50-acre parcel at 14332 Weld County Road 64 in Greeley, Colo., after moving their primary business, Duran Excavating Inc., to the site in 2013. The facility comprises 450 units as well as 400 outdoor spaces for boat/RV storage. It also features an RV dump station.
Safeguard Self Storage has opened a new location on W. Merrick Road in Valley Stream, N.Y. The facility comprises 52,054 square feet in 747 units. Features include a drive-in loading area, electronic door locks and smartphone-enabled access. It’s the company’s 28th location in the New York metropolitan market and 72nd nationwide. Safeguard will continue to look for opportunities in the region, according to CEO Mark Degner. It has five other projects in development in New Jersey and New York, as well as four developments underway in Florida, Illinois and Louisiana.
Commercial development firm Southern Development Services plans to open a new self-storage facility on 2.42 acres in Delray Beach, Fla. The property at 1125 Wallace Drive will contain 500 units and be managed by self-storage real estate investment trust CubeSmart and branded under its name.
U-Haul is set to open a new self-storage location this month in Shreveport, La., and intends to convert a former shoe factory in Worcester, Mass. U-Haul Moving & Storage of Downtown Riverfront at 222 Lake St. in Shreveport will host a grand-opening event on March 22. The converted former “Shreveport Times” newspaper building comprises 84,689 square feet in more than 750 units. The business opened in a limited capacity in 2017, offering trailer and truck rentals and moving-supplies sales from a temporary showroom. Propane sales will eventually be added to the 3.53-acre lot.
In Worcester, U-Haul Moving & Storage at University Square expects to open a temporary showroom in the historic Melville Shoe Corp. building in April. Built in 1928, the four-story, 180,480-square-foot former warehouse will eventually comprise about 1,200 self-storage units, along with trailer and truck rentals, U-Box portable storage and other services. It’s been vacant for 18 years, according to Jerry Ouellette, president of U-Haul Co. of Western Massachusetts and Vermont.
United Roofing & Remodeling is converting the former Holt Lumber LLC property in Hollis, N.H., to self-storage. Owner Mike Coulombe purchased the 6.5-acre property at 145 Runnells Bridge Road in December for $800,000. Once complete, Contractor Storage Solutions will contain 12 large units designed for the storage of contractor equipment and tools. United Roofing occupies 5,000 square feet of building space. Plans are also underway to add a second storage structure.
3/11/19 – 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 an overview of recent activity.
1784 Capital Holdings LLC, which acquires, develops, constructs and owns self-storage facilities, has purchased 2.06 acres in Goleta, Calif., on which it plans to build self-storage. Goleta Self Storage at 10 S. Kellogg Ave. will comprise 136,067 square feet, with three stories above ground and one below. It’s expected to be complete during the first quarter of 2020.
Commercial real estate companies ADEVCO Corp. and Batson-Cook Development Co. (BCDC) have formed a joint venture to build a three-story self-storage facility in Dunwoody, Ga., that it expects to complete in early 2020. The partnership recently closed on land at 4444 N. Shallowford Road and broke ground on the project. The facility will comprise 112,000 square feet. It’ll be operated by real estate investment trust and third-party management company Extra Space Storage Inc. and branded under its name. The site is near existing and planned multi-family developments. It will also serve the submarkets of Brookhaven, Perimeter Center and Sandy Springs.
Mobile-storage operator BlueBox Storage has opened a container-based self-storage facility in Salem, Ore. The property at 4725 Turner Road S.E. offers steel containers with 160 square feet of storage space. The units have double swinging doors and are rated for up to 10,000 pounds of storage.
Self-storage developer Citadel Storage Partners I LP, which operates under the Citadel Self Storage brand, plans to build on the site of the former Movie Tavern in Lexington, Ky. The movie theater at 133 N. Locust Hill has already been torn down. The $1 million self-storage building will comprise 55,000 square feet of space, according to documents filed with the city. Founded in 2015, Citadel operates two facilities in Cincinnati and Louisville, Ky.
EliteStor has completed phase one of a boat/RV self-storage project in St. Rose, La., about 20 miles from New Orleans. The facility at 161 I-310 Service Road recently opened with more than 20 units comprising 15,000 rentable square feet. Additional units are expected to be available later this year. The buildings were constructed to withstand 140 mph winds. Offerings include climate-controlled units, covered spaces, a wash bay, onsite maintenance and a retail store.
Real estate developer JMK5 Holdings LLC is nearing completion on two mixed-use development projects in Texas that will include self-storage. In Galveston, the company is adding 50,000 square feet of climate-controlled storage to the historic Falstaff Brewery at 3302 Church St. The facility, which will offer 436 units, is expected to be complete in April.
In Texas City, JMK5 is redeveloping the former Mall of the Mainland at 10000 Emmett F. Lowry Expressway. The project has already brought in a gym, movie theater and trampoline park. The self-storage component will comprise 63,675 square feet in 616 climate-controlled units.
Both properties are owned by attorney Jerome M. Karam. They’ll be managed by Houston-based Right Move Storage LLC, which operates 24 storage properties in Arizona, California, Louisiana and Texas, with the majority in Texas.
The Washington County, Md., Planning Commission approved a site plan from real estate developer Taylor Oliver for his North End Storage II self-storage project in Hagerstown, Md. The facility will comprise 73 units in three buildings. Each unit will offer about 420 square feet of space. The 5-acre site on the south side of Longmeadow Road will be the second self-storage location for Oliver, who also owns North End Storage on Leitersburg Pike. North End is a division of residential developer Oliver Homes.
Overton Moore Pacific (OMP) is looking to convert the Frontier Communications building in Monrovia, Calif., to a mixed-use site that’ll include self-storage, retail and office space. Plans include transforming 86,389 square feet on the upper floors into 550 units, with 4,470 square feet on the ground level designated for retail or commercial space. An additional 1,247 square feet on the first level will be transformed into office space. OMP will present its plans to the city’s design-review committee in May, according to city manager Oliver Chi.
Simply Self Storage, which owns or manages facilities in the United States and Puerto Rico, has opened a new location at 300 Wolverine Trail in Smyrna, Tenn. The property has a mix of interior, climate-controlled and drive-up units.
The Chino Hills, Calif., City Council voted 4-1 during an appeal hearing to approve a three-story self-storage proposal from commercial real estate firm Sorsirs Inc. The Storage District will comprise 128,149 rentable square feet in up to 950 units and include an additional 2,000 square feet for lobby and office space. It’ll be built at the southwest corner of Fairfield Ranch Road and Soquel Canyon Parkway in a retail center that includes Denny’s and Starbucks locations. The $15 million project will be designed to look like a modern office and include meeting space and a conference room open for community use, according to Nancy Bane, owner of Sorsirs.
Phoenix-based U-Haul International Inc. is converting the former May's Drug Warehouse in Joplin, Mo., to self-storage. U-Haul Moving & Storage of Joplin is operating out of temporary showroom at 1410 E. 7th St. while the 44,682-square-foot building is renovated. Self-storage units are expected to be available by March 15. Established in 1945, U-Haul owns more than 32 million square feet of storage space.
Value Store It Inc., which operates 17 properties in Florida and Massachusetts under the Value Store It Self Storage brand, has opened a new facility at 7500 N.W. 25th St. in Miami. The property comprises 75,000 rentable square feet in more than 850 units, according to manager Louis Martin. The facility is near Miami International Airport and will serve several communities in western Miami-Dade County, including Blue Lagoon, Doral, Hialeah and Medley.
Canadian self-storage company Vaultra Asset Management is developing Vaultra Self-Storage in Ajax, Ontario, Canada. Expected to be complete this fall, the facility at 20 Pugsley Court will comprise 100,000 square feet of climate-controlled, drive-up and outdoor vehicle storage. Vaultra operates two facilities in Alberta, Canada, and six in Ontario.
A proposal by Venture Storage Group LLC to build a three-story, $6.5 million self-storage facility in the South Peak development of Roanoke, County, Va., has been rejected by the Roanoke County Board of Supervisors. With a 4-1 vote, the board denied a special-use permit to allow storage on the 3.1-acre site, which overlooks the cross point of U.S. Highway 220 and Virginia State Route 419. Commissioners had concerns about the size of the facility, which would comprise 105,000 square feet along a prominent hillside perch. They also questioned whether self-storage would serve the original goals for the gateway development.
Everett, Wash.-based West Coast Self-Storage Group (WCSSG), a management, acquisitions and development company that operates 55 facilities in California, Oregon and Washington, is nearing completion on projects in Daly City, Calif., and Portland, Ore. Together the facilities will add 122,775 square feet to the company’s portfolio.
In Daly City, the property at 1001 E. Market St. will comprise 58,000 square feet in 624 units. The Portland facility at 4970 S.E. 16th Ave. will encompass 64,775 square feet in 703 units. Both will feature covered areas for loading/unloading, retail supplies and truck rentals. WCSSG developed the Portland project on behalf of the ownership group NWB/CSPP McLoughlin LLC and will manage the property.
Westport Properties Inc., which operates more than 120 self-storage facilities under the US Storage Centers brand, has purchased a 2.2-acre industrial parcel in Los Angeles on which it plans to build a three-story, 152,000-square-foot facility. The property at 4800-4830 Valley Blvd. formerly housed a metal and plumbing business. The purchase price was $5.4 million.
Bugle Newspapers, Storage Facility Gets Approval
Hoover Sun, Hoover Zoning Board Oks Self-Storage, Retail Buildings Near Deer Valley, U.S. 31
Jacksonville Daily Record, Kmart on Blanding Sold for Redevelopment
PR.com, Safeguard Self Storage Expands Again in New York
PR Newswire, Grand Opening: U-Haul of Downtown Riverfront Offers 750 Self-Storage Rooms
PR Newswire, Preserving Worcester: U-Haul Announces Plans for Historic Shoe Factory
South Florida Business Journal, Developer Breaks Ground on Self-Storage in Palm Beach Gardens With $11M Loan
The Aspen Times, More of the ‘Colfax-ification’ of Highway 82
The Telegraph, Huge Makeover: Former Holt Lumber Property to be Renovated Into Storage Units
The Tribune, Longtime Greeley Construction Firm Opens Storage Business
Triad Business Journal, Former Heritage Home Group HQ Sold to Winston-Salem Developer for $4M
Champion Newspapers, Modern Self-Storage Facility Approved for Chino Hills
Digital Journal, Simply Self Storage Announces New Class A Storage Facility in Smyrna, Tennessee
Durham Region, What’s Going on Here: Vaultra Self-Storage
Globe St., Self-Storage Developer Wins Rare Industrial Land Site
Herald-Mail Media, More Jumbo Self-Storage Units to Be Built North of Hagerstown
Houston Chronicle, Former Texas City Mall Property, Falstaff Brewery Almost Ready to Store Your Stuff
Lexington Herald Leader, Former Movie Tavern on Locust Hill is Torn Down to Make Way for This Business
Monrovia Weekly, Old Phone Company Building in Monrovia May Get New Life
OpenPR, New Salem Self Storage Units are Now Available from BlueBox Storage
PR Newswire, EliteStor, a New Storage Facility Will Open Soon in St. Rose, Louisiana
PR Newswire, U-Haul Facility Opens to Address Self-Storage Demand in Joplin
PR Web, New Value Store It Location in Miami - Self Storage Facility in South Florida Now Open!
The Roanoke Times, Roanoke County Board Votes Down Permit Request for Self-Storage Warehouse on South Peak