Update 5/23/19 – 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 May 2019.
Developer Bernard Edelman is facing opposition in his quest to build a mixed-use project in Chicago that would include self-storage and retail. About 100 people attended the April 11 community meeting to express concern about the building’s aesthetics and four-story height as well as a lack of parking spaces for retail visitors. The storage facility would be at the rear of the property and occupy the upper floors. The 13,000 square feet of ground-floor retail might include a wine/coffee café as well as a brewery and restaurant. Since the meeting, Edelman has offered an updated rendering that shows aesthetic improvements and additional parking spaces, the source reported. Edelman is also pursuing $3.3 million in tax increment subsidies to make the project feasible. The total development costs are estimated at $13 million, not including the land acquisition.
Coda Management Group, a development firm specializing in self-storage conversion projects, acquired a vacant warehouse in downtown Dayton, Ohio, that it intends to convert to a storage facility. The company acquired the property at 535 E. Third St. for $1 million through affiliate Platform III-Third LLC. Built in 1913, the warehouse comprises 86,640 square feet in the Webster Station neighborhood. The project is expected to be complete by early 2020, according to Scott Krone, managing partner at Coda.
The Tulare, Calif., County Board of Supervisors unanimously approved rezoning 17 acres on the east side of Mooney Boulevard to clear the way for a new Derrel’s Mini Storage location. The two parcels south of Avenue 264 are just north of the Tulare city limits. They’re owned by Lynn and Paul Ramires, and The Phares Trust. The Tulare project will be Derrel’s 60th self-storage facility.
DEStorage.com, which operates seven self-storage facilities in Delaware, has expanded its location at 19659 Blue Bird Lane in Rehoboth and also added solar panels. The new buildings feature drive-up, climate-controlled units with insulated doors. The commercial-grade HVAC and dehumidification systems maintain the temperature and humidity of each unit, according to the source. DEStorage.com is a subsidiary of Investors Realty Inc., a diversified property-management firm headquartered in Dover, Del. It operates storage facilities in Clayton, Dover, Milford, Millsboro, Rehoboth, Seaford and Smyrna, Del. The company also has two properties under construction in Avondale and Georgetown, Pa., which are expected to open this year.
Extra Space Storage Inc. has opened a new self-storage location on Vineland road in Kissimmee, Fla. The three-story facility comprises 118,000 square feet in 900 units. It was developed in partnership with Bradley Corp., HB Capital Management and Liberty Base Investments. It was designed by architect Patrick Pillot to emulate the Caribbean style of the 92-acre Calypso Cay resort, adjacent to the property. Headquartered in Salt Lake City, Extra Space is a real estate investment trust and third-party management firm. It owns or operates 1,696 self-storage properties in 40 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 1.2 million units and 130 million square feet of rentable space.
Glorietta Bay LLC, a division of Scott Lepman Co., is seeking permission to build a mixed-use project in Philomath, Ore., that would include 150,000 square feet of traditional storage, 175 vehicle-storage spaces and two industrial-flex space buildings comprising a total of 19,363 square feet. It would also include a 7,088-square-foot community center, two viewing platforms adjacent to Newton Creek and a walking-trail system. The 12 storage buildings would be constructed in phases. A May 20 public hearing on the project was rescheduled to allow for a traffic study.
Real estate developer and investor Hines Interests LP is building two self-storage facilities in Arizona. The company acquired land at the intersection of Dysart and Camelback Roads in Litchfield Park, with plans to build a 96,000-square-foot facility containing 673 units. Construction begins next month and will be complete by the end of the year. Hines has also started building an 83,110-square-foot facility in Tempe. Located near Priest Drive and Warner Road, it’ll contain 640 units as well as covered vehicle-storage spaces. It’s expected to be finished this fall. Both facilities will be managed by CubeSmart, a real estate investment trust and third-party management firm. The company was represented in the land acquisitions by Norman Herd of Quantum Property Advisors, a Phoenix-based brokerage firm specializing in self-storage real estate.
Mataas Partners, a privately-held real estate investment firm that specializes in redeveloping underused properties, intends to convert a former Safeway grocery store at 14505 W Grand Ave. in Surprise, Ariz., to self-storage. The conversion of the 55,000-square-foot building would create two stories of self-storage in addition to co-working space. The planning and zoning commission recently voted 6-1 to recommend the plan to the city council.
The self-storage project is part of a larger development plan Mataas has for the Grand Village Plaza Commercial Center property. Though the developer is working to keep current retail businesses at the center and attract new tenants, it also wants to build additional retail and restaurant space in the parking lot. Safeway vacated the center in 2017. Mataas previously converted a Target store in Chandler, Ariz., to self-storage in 2014.
The Union Charter Township, Mich., Board of Trustees approved a special-use permit to allow McGuirk Mini Storage Inc. to expand its self-storage facility at 3046 Jens Way in Mt. Pleasant, Mich. The permit was granted on condition of site-plan approval by the planning commission. Union Township is entirely within the Mount Pleasant city limits but operates a separate administration.
Metro Storage LLC, which operates more than 135 self-storage properties in 14 states under the Metro Self Storage brand, has purchased a 5.7-acre parcel in Spring Hill, Fla., on which it plans to build self-storage. The property on Suncoast Parkway is just north of Spring Hill Drive and adjacent to an existing Metro facility at 3300 Barclay Ave. Once complete, the building will comprise 132,000 rentable square feet of storage. 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.
Safeguard Self Storage, which operates 75 facilities throughout the eastern states, has opened a new location in Chicago. The facility at 6244 N. Northwest Highway is eight miles west of the company’s new facility in uptown Chicago and six miles from its Des Plaines, Ill., site. It comprises 70,885 square feet in 874 units. Safeguard has 11 sites under development, including five in Florida, one each in Louisiana and New Jersey, and four in New York.
The Ocoee, Fla., city council unanimously approved the final site plan on May 7 for the development of Summit Self Storage in Fountains West, a commercial and retail center on the northeast corner of the intersection of Ocoee Apopka and West Roads. The three-story facility will comprise 102,600 square feet of indoor storage on 11.73 acres on Lot 8 of the Fountains West development.
U-Haul Moving & Storage of Annapolis is in the process of converting a former Toys R Us store in Annapolis, Md., to a self-storage and truck-rental facility. The property at 2115 West St. currently houses a temporary showroom with moving supplies, towing equipment, and truck and trailer sharing, but will eventually offer 10,000 square feet of climate-controlled storage space. It’s expected to be complete next spring, according to Mike Finkelstein, president of U-Haul Co. of Baltimore. U-Haul acquired the 41,400-square-foot retail building on March 1.
We Store Bixby Self-Storage opened at 13243 S. Mingo Road in Bixby, Okla. The property offers climate-controlled and drive-up units as well as vehicle and wine storage. It’ll also serve the communities of Broken Arrow and Tulsa, Okla.
The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, has opened a new facility in Denver. The property at 7200 E. 36th Ave. is near the Rocky Mountain Arsenal National Wildlife Refuge. Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and operates more than 125 self-storage facilities in seven states.
5/9/19 – 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 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.
Orange Observer, Storage Facility Coming to Fountains West Development
PR Web, StorQuest Opens Cutting Edge Self Storage Facility in Denver, CO
PR Web, Metro Self Storage to Expand Facility in Spring Hill, Florida
Nadig Newspapers, Residents Voice Concerns on Self-Storage and Retail Complex
The Gazette Times, Philomath Industrial Development Plan Includes RV Park, Business Flex Space, Storage
Cape Gazette, Local Self-Storage Facility Expands Using Solar Energy
KTAR, Hines to Open 2 More Self-Storage Facilities in the Valley
Virtual Strategy Magazine, Safeguard Self Storage Expands Again in Chicago
Dayton Business Journal, Self-storage Facility Planned in Webster Station
Digital Journal, We Store Bixby Self Storage, Launches a New Facility and Website
Morning Sun, Union Township Approves Expansion of Self-Storage Facility
New Kerala, Adaptive Reuse: U-Haul Repurposing Former Toys R Us in Annapolis
The Sun-Gazette, Derrel’s Mini Storage Locales Land on Mooney Boulevard in Supe’ Vote
YourValley.net, Self-storage on Track to Replace Vacant Surprise Safeway Site
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’