Update 3/31/23 – 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 March 2023.
8235FR LLC received approval to expand ModBox Storage in Mint Hill, North Carolina. Plans for 8227 Fairview Road include one two-story building that will comprise 52,500 square feet in 200 units and 46 outdoor vehicle-storage spaces.
A&L Storage received site-plan approval for its self-storage project in Rome, New York. The company will construct 18,000 square feet on a 2.16-acre parcel on Bateaux Place.
A joint venture between Blue Vista Capital Management and Flagship Cos. Group has broken ground on a pair of self-storage facilities in Cocoa and Land O’ Lakes, Florida. The Cocoa site at 3854 W. King St. will comprise 75,156 square feet in 660 units, while the Land O’ Lakes location at the intersection of Swans Landing Drive and U.S. 41 will encompass 92,503 square feet in 702 units. They’re expected to be complete in spring 2024 and will be managed and branded by real estate investment trust (REIT) Life Storage Inc. Flagship will serve as developer and general contractor on both projects. The partnership secured $19 million in construction loans from American Momentum Bank. Chicago-based real estate investment firm Blue Vista has invested in more than 45 self-storage properties. Based in Lake Mary, Fla., Flagship develops and operates self-storage facilities throughout Florida, though it also specializes in hotels, master-planned communities, restaurants and studio salons.
bSide Partners LLC received zoning approval to build a mixed-use property in Buford, Georgia, that’ll include self-storage as well as office and warehouse space. Plans for the nearly 21 acres at 4105 Gainesville Highway include seven buildings totaling 178,000 square feet. bSide primarily develops and manages multi-family real estate and student housing.
Diamond Point Development LLC completed a two-story self-storage facility in Frederick, Maryland, in partnership with The Ardent Cos. The property at 1845 Brookfield Court was converted from an indoor-sports facility and comprises 74,000 rentable square feet in 700 units. It’ll be managed and branded by Life Storage. The project includes 1,300 solar panels that are expected to provide 100% of the site’s power. Atlanta-based Diamond Point is a real estate investment, development and asset-management company led by brothers Aaron and Jason Sommer. The Ardent Cos. is an Atlanta-based real estate investment firm.
In a 3-2 vote, the Highland, Indiana, Town Council denied a zoning variance for a mixed-use project proposed by The Feldman Cos. Plans for the property at 8141 Indianapolis Blvd. included a three-story building comprising self-storage and retail space. The town’s board of zoning appeals recommended denial because self-storage wasn’t a permitted use. The Feldman Cos. have owned and developed more than 1.5 million square feet of real estate.
Commercial real estate development and management firm Holladay Properties LLC intends to build a self-storage facility on a 2.5-acre, pie-shaped parcel in Arlington Heights, Illinois. The village board recently approved a land-use variation for the three-story facility at 397 and 401 W. Golf Road, which will comprise 102,008 square feet in 725 units. The project requires the demolition of three existing structures. The plan also includes a new easement agreement with neighboring property owner Golf Corporate Center, required by village officials, which will allow site visitors to drive through the office park to the storage property. The facility will be managed by Winter Garden, Florida-based Store Space Self Storage.
InSite Property Group, which operates the SecureSpace Self Storage brand, intends to develop a facility on an industrial site in Glendale, California. The building at 127 Concord St. will comprise 112,200 square feet of storage with two levels of underground parking. InSite acquired the property in January for $6.6 million. Based in Torrance, California, SecureSpace operates more than 35 self-storage facilities in 11 states.
Manhattan Mini Storage is converting a former CMX Cinema in New York to self-storage, with completion expected by the end of the year. The six-story project will be adjacent to an existing Manhattan Mini facility at 420 E. 62nd St. It’ll comprise 65,000 rentable square feet in 1,200 units. Eco-friendly features include LED lighting and high-efficiency HVAC systems. Manhattan Mini is an operating brand of StorageMart, which operates more than 260 self-storage properties across Canada, the United Kingdom and the United States.
Tom Maxwell intends to build a 98-unit self-storage facility on two parcels on North U.S. Highway 23 in Oscoda, Michigan. Three neighbors recently appeared at a special planning meeting to oppose the project, which would include two storage buildings. Maxwell is in the process of working with the township to combine the two lots.
Mini Price Storage, which operates more than 60 facilities in Virginia, opened a new location in Chesapeake. The multi-story building is at 621 Volvo Parkway.
MV Investment is developing a self-storage facility in Winter Haven, Florida. Plans for the property at 6610 Cypress Garden Blvd. include a three-story building that comprises 100,300 gross square feet in 792 units. Once complete, it’ll be branded and managed by self-storage REIT CubeSmart.
MV is also nearing completion on a new self-storage location in Fayetteville, North Carolina. Built on 9 acres, the facility at 5234 Raeford Road comprises 105,000 gross square feet in 808 units. It’s scheduled to open on April 1. MV is a development, construction and property-management firm that specializes in multi-family and self-storage projects. To date, it’s developed more than 1.5 million square feet of self-storage.
National Storage is seeking approval to build a facility in Salisbury, Adelaide, South Australia. Plans for 312 Evans Road include demolishing an existing warehouse and building a four-story building in its place. The facility would offer 908 units. National Storage operates more than 230 facilities in Australia and New Zealand.
Real estate development and investment firm North Palisade Partners opened Palisade Nadeau Storage in Huntington Park, California. The three-story building on 2 acres at 2200 Nadeau St. comprises 133,000 square feet in 1,500 units. It’ll be branded and managed by REIT Extra Space Storage Inc.
Padlock Partners UK Fund III will convert a four-story building in Southend-on-Sea, England, to self-storage. The fund recently acquired the 34,961-square-foot building and land at 53-57 Sutton Road for £4.4 million. The conversion is expected to be complete by Sept. 30. Fund III is an unincorporated investment trust established to pursue commercial real estate in the United Kingdom, with an emphasis on self-storage.
Paradigm Development Partners opened a newly constructed self-storage facility in its Clay Town Center mixed-use development in Middleburg, Florida. The property at 3764 Jacobs Crossing comprises 91,458 square feet and is managed and branded by Life Storage. The project was designed by architect Arch Trulock, with J.M. Williams Contractors serving as general contractor. Engineering firm Kimley-Horn consulted on planning and design.
Parkland Storage LLC intends to develop a three-story, 160,000-square-foot self-storage facility along Loxahatchee Road in Parkland, Florida. The project will require rezoning. Parkland is an affiliate of North Miami Beach, Florida-based real estate firm The Feldman Cos., which specializes in self-storage development in South Florida.
Ras Al Khaimah Economic Zone (RAKEZ) Group has opened the first self-storage facility in Ras Al Khaimah, United Arab Emirates. The company serves as a business hub and licensing authority that supports startup businesses. The RAKEZ economic zone was established by the local government to support businesses with licensing and other services including accounting, banking, marketing, resident visas, staffing and more.
SAFStor, which operates 50 facilities in 14 states, opened a new location in Philadelphia. Managed by Life Storage, the three-story building at 4340 Byberry Road comprises 78,000 rentable square feet in 860 units. Interplan was the project architect, with Swinerton serving as the general contractor
Norway-based Self Storage Group ASA (SSG) purchased a property in Kristiansund, Norway, for NOK 16.5 million on which it intends to build a new facility. Expected to open in the first quarter of 2024, the 1,250-square-meter building in Pilotveien will operate under the company’s City Self-Storage brand. SSG operates 131 facilities across Scandinavia under the City Self-Storage and OK Minilager brand names. Its portfolio comprises 182,600 square meters.
Shurgard Self Storage Ltd., the European affiliate of U.S.-based REIT Public Storage Inc., intends to build a facility in Stuttgart, Germany. Expected to open in early 2025, it’ll comprise 6,700 square meters in 875 units. Shurgard operates 267 self-storage properties comprising 1.4 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom.
True Storage Inc. is seeking approval to convert part of a vacant furniture store in Fitchburg, New Hampshire, to a mixed-use property that’ll include self-storage. Plans for 380-510 John Fitch Highway include 80,000 square feet of climate-controlled storage as well as office and retail space. Allen & Major Associates Inc. is the engineering and consulting firm on the project. The planning board was expected to review the plans this week. True Storage develops ground-up storage facilities as well as converts existing buildings. Its facilities are managed by third-party companies.
Value Store It Self Storage, which operates more than 30 properties in Arizona, Florida and Massachusetts, opened two locations in Clearwater, Florida. The facilities are at 26489 U.S. Highway 19 and 2611 Seville Blvd. Value Store It is a privately owned self-storage company based in Fort Lauderdale, Florida.
3/17/23 – 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 March 2023.
16 Post Road Ministorage intends to develop a self-storage facility in Westerly, Rhode Island. The three-story building adjacent to Route 78 would comprise 101,250 square feet on the vacant site of a former Staples retail store. The project requires the front portion of the parcel to be rezoned from a highway-commercial to general-commercial zone, which would allow self-storage with a special-use permit. The master plan was approved last month. A public hearing to discuss the rezoning is scheduled for April 3. The development is opposed by several self-storage owners, including Robert Celico of Trestle Park Self-Storage, who argue it would threaten existing facilities in the area.
BestBox Storage intends to build a self-storage facility on about 4 acres in McKinney, Texas. The project at the southeast corner of Custer Road and Silverado Trail would include two single-story buildings. The city council unanimously approved a special-use permit on March 7. BestBox operates six locations in Missouri and Montana.
Cinch Self Storage, which operates 12 facilities in England, has opened its conversion project in Newbury. The former headquarters for the “Newbury Weekly News” on Faraday Road offers 51,000 rentable square feet. Cinch has developments underway in Brentwood, Watford and Wimbledon, England. All are slated to open later this year. Launched in 2018 by Joshua Nimmo and Richard Owen, the company has a portfolio comprising more than 650,000 square feet of rentable self-storage space.
DXD Capital, a self-storage investor and developer, opened a new location in Las Vegas. The facility at 7435 W. Sahara Ave. offers 991 units. It’ll be managed and branded by self-storage real estate investment trust (REIT) Public Storage Inc. It was designed by Studio Level 1, with Arco/Murray Design Build serving as the general contractor. The company acquired the 1.7-acre property through its DXD Self Storage Fund I in January 2021. Based in Albuquerque, New Mexico, DXD is a real estate and private-equity firm that leverages data technology to make opportunistic investments.
InSite Property Group opened its newly constructed SecureSpace Self Storage in Livingston, New Jersey. Built on 4.5 acres, the facility at 644 W. Mt. Pleasant Ave. comprises 97,250 rentable square feet, including 96 covered RV-storage spaces.
InSite also opened a new SecureSpace location in Los Angeles. The facility at 2268 Firestone Blvd. comprises 116,125 square feet of climate-controlled space. Based in Torrance, California, SecureSpace operates more than 35 self-storage facilities in 11 states.
Michigan Self Storage LLC (MSS) received final approval for a development in Manistee Township, Michigan, including a special-use permit. The project at 1763 Kemmer Road will comprise eight buildings totaling 45,000 square feet. The company acquired the property on Jan. 6 for $160,000. MSS operates five locations in Michigan, including one in Manistee.
Peterson Cos. intends to develop a self-storage facility on 35 acres it recently acquired in Montgomery County, Virginia. The project at 650 Cinnabar Road will include a 119,250-square-foot, three-story building with 977 units as well as four single-story structures comprising 24,000 square feet and 76 vehicle-storage spaces. It’s expected to be complete next summer. Based in Fairfax, Virginia, Peterson is a real estate development firm with interests in commercial, office, residential, retail and self-storage properties. It has two other self-storage developments in its pipeline expected to open this year and in 2024.
StaxUp Storage is adding 225 covered boat/RV-storage spaces to its facility in Homeland, California. Once the expansion is complete complete, the property at 30630 Highway 74 will offer more than 500 spaces. StaxUp has 24 locations in California. It’s an operating brand of San Diego-based Strat Property Management Inc., which has a portfolio of more than 70 self-storage facilities in California, Colorado and Texas under the StaxUp, Lockaway Storage and Tall Pines Storage brands.
Strada CC Development LLC is seeking zoning approval to build a mixed-use project in Coconut Creek, Florida, that’ll include self-storage, a grocery store and a drive-through coffee shop. The vacant parcel is on the southwest corner of Coconut Creek Parkway and Lyons Road near other retail stores and a three-story office building. The city staff supports the zoning request. The planning and zoning board will review the proposal and host a public hearing on March 22.
Construction of Veterans Memorial Drive Self Storage is underway in Houston. Plans for the property at 11716 Veterans Memorial Drive include 13 single-story structures comprising 101,753 square feet. Once complete, it’ll be managed and branded by REIT CubeSmart.
An unnamed developer is seeking permission to convert the former Joseph's Catering property in Horsham Township, Pennsylvania, to self-storage. Plans for the 5.68 acres at 901 Horsham Road include a three-story building comprising 120,000 square feet. The Horsham Township Council will discuss the proposal at its March 27 meeting.
3/2/23 – 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 March 2023.
2225 Route 88 Realty LLC is requesting a zoning change to build a three-story self-storage facility in Brick, New Jersey. The property on the corner of Jordan Road and New Jersey Route 88 formerly housed a Lukoil gas station, which has been demolished. Several variances would need to be granted including one for building height and another for setbacks. The zoning board was expected to discuss the project this week. 2225 Route 88 is operated by the Daibes Family of Wayne, New Jersey.
Central Lakes Area Storage LLC received approval to build a self-storage facility in Brainerd, Minnesota. Plans for the 2.5-acre property at 15770 Dellwood Drive include two buildings, each 130 feet in length. The project still needs to be confirmed by the city council.
Ryan Chadwick and Michael Forrest opened Snowmass Self Storage in Snowmass, Colorado, near Aspen. The 50-unit facility at 26870 Highway 82 includes two buildings, with some spaces large enough to accommodate boats and vehicles. It was built on land that once housed a junkyard.
Cycle Street Redevelopment LLC intends to build a self-storage facility on a vacant, 15.6-acre parcel in Westfield, Massachusetts. The site at 0 Cycle Street would include 10 storage buildings comprising 63,780 square feet in up to 500 units, plus a separate, 800-square-foot structure to serve as an office. A portion of the site will need to be rezoned from residential to industrial. Some neighborhood residents opposed the project during a Feb. 21 public hearing.
DXD Capital, a data-driven real estate and private-equity firm, is building a five-story self-storage facility in Allapattah, Florida. The $18.7 million project will offer 865 climate-controlled units. Based in Albuquerque, New Mexico, DXD has offices in Colorado, Connecticut, Pennsylvania and New Mexico.
Fairview Storage LLC opened a new self-storage facility in Fairview, Oregon. The property at 20920 N.E. Sandy Blvd. comprises 108,856 rentable square feet in 509 units, some of which can accommodate boat/RV storage. It was designed by Portland, Oregon-based VLMK Engineering + Design and constructed by Boise, Idaho-based Forge Building Co. The site will be managed by West Coast Self Storage Group (WSSG), an Everett, Washington-based property-management, acquisition and development company. WSSG operates 110 managed and owned locations in California, Idaho, Nevada, Oregon and Washington.
Haggar Group opened a new StorWise Self Storage facility at 5874 Sheep Drive in Carson City, Nevada. StorWise operates 28 locations across Arizona, California, New Mexico, Nevada, and Texas.
InSite Property Group opened its newly constructed SecureSpace Self Storage in Surprise, Arizona. Built on 25 acres, the facility at 13930 W. Sweetwater Ave. comprises 144,535 rentable square feet offering 196 covered and 125 enclosed boat/RV-storage spaces. Based in Torrance, California, SecureSpace operates more than 35 self-storage facilities in 11 states.
Kingdom Storage Partners is nearing completion on a new self-storage location in Weeki Wachee, Florida. Built on 4 acres, the unmanned facility will comprise 54,000 square feet in 429 units. Scheduled to open this month, it’ll be managed by Copper Storage Management, which specializes in automated self-storage operation. Kingdom Storage Partners is an affiliate of Kingdom Storage Holdings, which focuses on the acquisition, development and syndication of self-storage facilities nationwide. The company’s portfolio comprises 4 million square feet.
Latch-iT Self Storage completed a multi-million-dollar renovation of its facility in Opelika, Alabama. Gated access, LED floodlights and 20 security cameras were added to the property at 2200 Steel St. The project also involved updates to the building exteriors, new standing-seam roofing and roll-up doors equipped with smart-entry technology. Founded by CEO Floyd Hubbell, Latch-iT also operates two facilities in Hattiesburg, Mississippi.
Metro Storage LLC, which operates more than 135 self-storage properties in 14 states under the Metro Self Storage brand, is building a new location in Spring Hill, Florida. The development will comprise 62,856 square feet in 543 units. The site will also include 83 covered and 31 uncovered vehicle-storage spaces. Headquartered in Lake Forest, Ill., Metro operates a portfolio comprising about 9.1 million square feet of storage space.
Orbit Developments intends to replace the Armadillo Self Storage facility that was destroyed by fire last year in Stockport, England, with entirely new construction. The company plans to build a multi-story, 140,000-square-foot building at the Earl Road site. Though two stories taller than the single-story structure that originally occupied the 4.3-acre lot, it’ll have a smaller footprint. A portion of the site will remain clear for future development. Orbit is part of The Emerson Group, which specializes in commercial and residential development.
Safe & Secure Self-Storage is under construction in Coral Springs, Florida. Plans for the 1.1-acre property at Coral Ridge Drive and Northwest 41 Street include 77,000 square feet of leasable space.
Trunk Space LLC received initial approval to convert a Providence, Rhode Island, building into self-storage. The property at 50 Branch Ave. formerly served as the home of the state board of elections. It was sold in 2020 for $1.6 million to real estate holding company RAB Properties. Plans call for five stories containing 1,400 units. The developer initially proposed razing the complex, but planning staff requested preservation of the façade. The new design keeps the front of the structure intact, appeasing zoning commissioners.
Trunk Space is also seeking permission to convert the Colonial Traveler Inn in Saugus, Massachusetts, to self-storage. The 24-room motel at 1753 Broadway is currently serving as a homeless shelter operated by the state. Plans include razing the existing structure and building four stories comprising 121,000 square feet in 1,000 units. The planning board will discuss the proposal at its March meeting. Trunk Space is owned by Jumbo Capital, a Quincy, Massachusetts-based commercial real estate firm. The company owns three self-storage facilities in the state, in Everett, Norwood and Quincy, that operate under the CubeSmart and Extra Space Storage brands.
Phoenix-based U-Haul International Inc. is expanding its facility in Dilworth, Minnesota. The $10 million project at 50 County Road 9 will be completed in three phases. U-Haul purchased three adjacent parcels last year. One includes the former Weivoda Carpet building at 1101 Center Ave. W., which is being converted to storage and is expected to open next month. Plans also call for a new three-story structure comprising 100,000 square feet in 1,100 interior storage units. Construction will begin this spring. Work is already underway for another 17,000-square-foot building to house the company’s U-Box containers. The building is expected to be complete in May.
Daily Herald, Self-Storage Facility to Replace Longtime Pet Store at Arlington Heights' Golf Road Entryway
Daily Sentinel, Site Plan Approved for Caliber Collision
Digital Journal, Mini Price Storage to Hold Ribbon Cutting for New Self Storage Center on Volvo Parkway in Chesapeake, Virginia
Iosco County News-Herald, Neighbors Disagree With Plan to Build Storage Units Along US-23
Market Screener, Self Storage Group ASA - Acquisition of property in Kristiansund, Norway
Matthews-Mint Hill Weekly, Storage Approved at Fairview Road
Multi-Housing News, Life Storage Property Opens in Philadelphia
Multi-Housing News, Paradigm Development Partners Delivers Jacksonville-Area Self Storage Facility
Newswire, Padlock Partners UK Fund III Completes Acquisition of Southend-On-Sea Self-Storage Property
North Gwinnett Voice, Buford Commissioners Approve Rezoning for Development Along Gainesville Highway
NWI.com, Divided Council Rejects Self-Storage Proposal
Patch, Developer Breaks Ground On Self-Storage Facility In Land O' Lakes
PR Newswire, Major Self-Storage Expansion in Upper East Side, New York City
PR Web, Value Store It Self-Storage Opens Two Brand New Facilities in Clearwater, Florida
REBusiness Online, North Palisade Partners Opens Self-Storage Development in Huntington Park, California
Tap Into Parkland, Developer Proposes 3-Story Self-Storage Facility Along Loxahatchee Road
The Real Deal, Insite to Build Five-Story Self-Storage Facility in Glendale
The Urban Developer, National Storage Plans 900 Self-Storage Units in Salisbury
Worcester Business Journal, Self-Storage Facility Proposed for Fitchburg Shopping Plaza
Zawya, RAKEZ Launches Self-Storage Facility in Ras Al Khaimah
Community Impact, BestBox to Bring New Self Storage Facility to West McKinney
Global Newswire, SecureSpace Announces Opening of New Self Storage Facility in Los Angeles, CA
News Advocate, New Storage Facility Gets Preliminary Site Plan OK
NRVNews, Peterson Companies to Build Storage Facility
Patch, Joseph's Catering May Become Self-Storage Facility in Horsham
Tap Into Coconut Creek, New Grocery Store, Storage Facility, and Coffee Shop Proposed in Coconut Creek
The Westerly Sun, Hearing Set for Former Staples Site Re-Zone
Virtual Builders Exchange, New Construction – Veterans Memorial Drive Self-Storage
Yahoo!, SecureSpace Announces Opening of New Self Storage Facility in Livingston, NJ
The Providence Journal, Providence Approves Initial Plans for 5-story, 1,400-Unit Self-Storage Complex
The Providence Journal, Company Plans Self-Storage Facility at Site of Former State Elections HQ
Item Live, Saugus Motel Could Become Self-Storage Facility
Inforum, U-Haul Investing More Than $10 Million in Major Expansion of Dilworth Facility
Brick Shorebeat, Developer Seeking to Turn Former Brick Gas Station Into Self-Storage Facility
Yahoo Finance, DXD Capital to Launch Self-Storage Project in Miami's Allapattah Submarket
Brainerd Dispatch, Storage Unit Application Prompts De-Annexation Discussion
Tap Into Coral Springs, New Self-Storage Facility Under Construction on Coral Ridge Drive in Coral Springs
Opelika Observer, Latch-IT Self Storage Brings New Technology to Opelika
REBusiness Online, Associated Bank Provides $8.6m Construction Loan for Self-Storage Facility in Spring Hill, Florida
Aspen Daily News, 50-Unit Storage Facility Opens in Old Snowmass
Carson Now, New Climate Control StorWise Self Storage Facility in Carson City Opens Wednesday
Investors Observer, SecureSpace Announces Opening of New Self-Storage Facility in Surprise, Arizona
Marketing Stockport, Cheadle Self-Storage Facility to Be Rebuilt After Fire
Mass Live, Westfield Neighbors Oppose Self-Storage Units at Cycle Street Industrial Zone
North West Place, Orbit to Replace Fire-Destroyed Self-Storage in Stockport
PR.com, Kingdom Storage Partners Reaches a Milestone of 4,000,000 Square Feet and 25,000 Units
PR.com, Self-Storage Facility Opens in Fairview, Oregon