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Self-Storage Development and Zoning Activity: May 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 May 2019.

Real estate developer 7710 Haskell LLC has acquired 1.27 acres of industrial land in Los Angeles from cosmetics manufacturer Orly International Inc. on which it intends to build a self-storage facility. The parcel includes two plots along Haskell Avenue and four on Aqueduct Avenue, in the Van Nuys neighborhood. Orly’s plant is just south of the site. The company originally acquired the land for expansion. Prior to the sale, it received approval from the city to remove an alley and cul-de-sac from the property and reached an agreement with A&J Training Trust Fund to exchange a parcel it owned at the site for a portion of Orly’s existing property. The moves reconfigured the acreage purchased by 7710 Haskell into a contiguous rectangle on which it can build.

The Hempstead Village, N.Y., Planning Board last month approved a proposal from real estate company Amenity Development Holdings LLC to build a seven-story self-storage facility at 46 Greenwich St., on the site of a former funeral home. The property is next to Judea United Baptist Church and across the street from a rehabilitation and nursing center. The facility will include a business center open to the public, which the church intends to use as part of its job-training program. Though no construction date has been set, the project is expected to take 18 months to complete, according to Alex Catalano, executive director of Amenity.

A joint venture between Clark Investment Group and Nuvo Development LLC is developing a new self-storage project in Cranberry Township, Pa. Once complete, the facility at 20701 Route 19 will comprise 97,000 square feet. Financing was arranged by Talonvest Capital Inc., a boutique mortgage brokerage firm.

Clear Sky Capital Inc. has acquired a 6-acre site in Laveen, Ariz., on which it plans to build self-storage. Construction of the 75,000-square-foot facility at 67th Avenue and Baseline Road will begin the summer and is expected to be complete in early 2020. Clear Sky is an owner, operator and developer of self-storage, multi-family and carwash businesses.

TDI Lorain LLC received approval last week to convert part of the Lorain Plaza Shopping Center in Lorain, Ohio, to indoor self-storage branded as Defender Self-Storage. Plans include adding 300 storage units to the property at 3317A Oberlin Ave. TDI owns the plaza through its parent company, Kossman Development Co., a developer of real estate for more than 60 years.

Diamond Point Development LLC (DPD) is set to break ground on a multi-story, climate-controlled self-storage facility in Lithonia, Ga., later this year. The project will comprise 132,355 rentable square feet in more than 1,200 units. It’ll be built on more than five acres at 6434 Covington Highway. Expected to open during the fall 2020, the facility is being developed in partnership with Castle Hill Investors LLC, a New York City-based real estate investment management firm. DPD has four other self-storage projects under development in the Atlanta metro area. The company is led by Aaron and Jason Sommer.

GC Mini Storage LLC opened its fifth self-storage facility at 3007 North Road in Grand Island, Neb. The 68-unit facility offers spaces large enough to accommodate campers and RVs. Outdoor vehicle-storage space is also being developed. GC also has storage properties in Burwell, Loup city and Ord, Neb. The company is owned by Grant Calleroz, who also runs GC Contracting and Concrete.

Metro Storage LLC, which operates more than 135 self-storage properties in 14 states, plans to build a new Metro Self Storage facility on a 2.73-acre vacant parcel in Coon Rapids, Minn. Once complete, the three-story structure at 3021 124th Ave. will comprise 138,000 square feet in 1,084 indoor units. The project was approved prior to a moratorium on self-storage recently enacted by city officials, according to Matt Brown, economic development coordinator. 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.

Montgomery Self Storage is adding 170 units to its facility at 9 Factory St. in Montgomery, N.Y. The expansion is expected to be complete this month. The family-owned business cited rising population and median household income in the area as driving factors behind the project. The company has served the local community since 2005.

Safeguard Self Storage, which operates 75 facilities throughout the eastern states, and Mike Carter Construction Inc. are looking to acquire a 3-acre parcel in Bradenton, Fla., on which they plan to build a mixed-use project that’ll include self-storage and 14 rental residences. The vacant site in the 1400 block of 14th St. W. is next to the Village of the Arts, a neighborhood of bungalow homes, small businesses and artist studios. The developers have offered $750,000 for the city-owned property, contingent on receiving site-plan approval for the $8 million project. The Bradenton City Council is also entertaining another proposal from Catalyst Community Development, National Development of America and NDC Construction Co., for a 260-unit apartment complex.

Spencer 95 LLC is building Saybrook Storage in Old Saybrook, Conn. Once complete this fall, the three-story facility will comprise 65,500 square feet of climate-controlled storage. Spencer 95 is a division of Rand Construction, an East Hampton, Conn., development company.

Stein Investment Group, an Atlanta-based real estate investment firm that operates Space Shop Self Storage, acquired six properties in the Fort Hill subdivision of Richmond, Va., on which it intends to build Glenside Lock Box Self Storage. The plots included four single-family homes and a vacant lot that’ll be combined into a single, 1.9-acre building site. The existing structures will be demolished. The properties were purchased separately for a combined $1.625 million from Glenside Drive LLC, H&R Gary LLC, Reynolds Holdings LLC and Thomas Pruitt. The Space Shop portfolio comprises 13 locations in the Southeast.

Storage of America (SOA) is set to convert a former Kmart store in Fremont, Ohio, to self-storage. The property at 1825 Oak Harbor Road comprises a 168,966-square-foot building on 18.17 acres. Bob Gross, the city’s economic-development director, indicated Fremont officials are glad to see the vacant property repurposed as part of ongoing development activity along Oak Harbor. The retail space has been empty since July 2016. SOA acquired the property in March for $1.7 million. Founded in 2003, SOA has 11 self-storage locations in Indiana, Michigan, Missouri and Ohio.

Store4U Self Storage, which operates a facility in Galway, Ireland, has opened a second location in Dublin. The facility on Old Naas Road in the Kingswood suburb offers container storage and is open daily.

Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America, is expanding its facility at 1129 Morgan Blvd. in Harlingen, Texas. The $750,000 project will add climate-controlled and traditional storage units as well as portable-storage options and new retail services. No completion date has been set. The Morgan Boulevard expansion comes two years after the company converted a former lumber yard in Harlingen to a moving and storage center. Established in 1945, U-Haul operates more than 32 million square feet of storage space nationwide.

Real estate development firm Williams Family has opened Will-Stor in Louisville, Ky., it’s third location. The newly constructed facility at 4530 Poplar Level Road comprises 57,966 square feet of rentable space in 514 units. Property-management firm Absolute Storage Management will manage the site.

Yellow Door Storage has opened in Argyle, Texas. The facility at 812 Crawford Road features a three-story, climate-controlled building and eight additional structures comprising 77,000 square feet in 890 units. The facility is owned by Denton, Texas-based NorthBridge Investments, which focuses on office, industrial and self-storage businesses.

Sources:
The Cross Timber Gazette, Storage Facility Opens Near Argyle
Life Pulse Health, Store4U Opens Self Store Centre in Dublin
Zip 6, What’s the Story With the Exit 66 Construction?
Finance & Commerce, Self-Storage, Warehouse Planned in Coon Rapids
Herald-Tribune, Bradenton City Council Considering Two Offers for 14th Street Site
The Chronicle, Storage Facility Planned for Lorain Plaza
Fremont News Messenger, Former Kmart Building to Be Turned into Indoor Storage Facility
Long Island Report, Hempstead Village Planning Board Approves Proposal for Storage Site
Middle East North Africa Financial Network, Montgomery Self Storage NY Expansion Near Completion
RVA Hub, Six Properties Assembled for New Self-Storage Facility at Glenside Drive and Forest Avenue
San Fernando Valley Business Journal, Orly International Sells Industrial Land in Van Nuys
The Grand Island Independent, GC Mini Storage Expands to Grand Island
Valley Morning Star, Moving up: ‘Business Is Booming for U-Haul in Harlingen’

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