Update 9/26/19 – 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 September 2019.
80 Elm Street Partners LLC is building a four-story self-storage facility in Watertown, Mass. Watertown Self-Storage will comprise 56,475 square feet in 400 units. It’ll be developed adjacent to the city’s Arsenal Street Corridor and designed by Cambridge, Mass.-based HDS Architecture to include a wall of glass panels and a publicly accessible, landscaped terrace. The roof will be equipped with an array of solar panels, with a goal of earning silver certification from the Leadership in Energy and Environmental Design of the U.S. Green Building Council. Construction is expected to be complete early next year. The developer is led by self-storage veterans J. Gerson Bloch and Jim DiNardo.
DealPoint Merrill LLC, a real estate development and property-management firm, purchased a 47,521-square-foot warehouse in Tulsa, Okla., that it plans to convert to self-storage. The seller was BH Media Group Inc., owners of “Tulsa World” newspaper. Situated on just over 2 acres, the warehouse was used to store newsprint. DealPoint will invest $10 million into the project, which is expected to open in May, according to a press release. DealPoint is a subsidiary of The Merrill Group of Cos., a privately held real estate development and property-management firm that has been in business since 1985. Merrill Group manages more than 2 million square feet in office and retail assets nationwide.
Golden Valley Storage is under development in Lathrop, Calif. Running adjacent to Golden Valley Parkway, the self-storage facility will offer 636 units and more than 100 vehicle-storage spaces. It’s expected to open early next year, according to Marlon Bateman, a representative of the project.
Home Star Storage opened in Mableton, Ga. The facility at 381 Veterans Memorial Highway S.W. comprises more than 80,000 square feet in 847 units. A ribbon-cutting held on Sept. 24 included members of the Cobb County Chamber of Commerce. The facility will be managed by Storage Asset Management, a property-management and consulting firm that oversees more than 180 facilities in 26 states.
Live Oak Capital Partners acquired a 1.8-acre development site in Stuart, Fla., that includes zoning and site-plan approval for a multi-story self-storage facility comprising 128,000 gross square feet. The transaction was brokered by Josh Koerner and Frost Weaver of Weaver Realty Group, an affiliate of the Argus Self Storage Sales Network, a Denver-based network of real estate brokers who specialize in storage properties.
With a 3-1 vote, the Atascadero, Calif., City Council denied a self-storage proposal for the southside of town, across from Paloma Park. Developer Scott Newton applied for a conditional-use permit in January to build on an empty lot he purchased between the park and the Dove Creek housing development. City staff recommended the council reject the proposal because it was inconsistent with the general plan and the surrounding area. Despite their objections, the planning commission advised city staff to complete a review of the project.
Following months of redesigns and plan modifications, the commission approved the development with a 3-2 vote on Aug. 6. During an Aug. 13 city-council meeting, however, councilmember Roberta Fonzi said she wished to submit a repeal, saying there was sufficient public interest to garner further review of the project by the council. On social media, Newton called the repeal a “blatant misuse of power, since it was filed without any legal justification.” He also circulated an online petition to gain support for a rejection of the repeal.
During a Sept. 10 council meeting, Mayor Heather Moreno explained the repeal process. The council then spent 30 minutes listening to presentations and watching a video supporting the project. The current design includes landscaping and wetland development on a quarter of the property. Experts told the council water would be redirected from the site to create a wetland area and to prevent possible flooding. Fonzi, Moreno and councilmember Susan Frank voted against the development, saying it could influence what types of businesses might be drawn to the area. Newton invested more than $1 million into the project, he said, adding that he wouldn’t have purchased the land if knew the council would reject his proposal.
The Lenexa, Kan., City Council approved a zoning change, special-use permit and preliminary site plans for a proposed StorTropolis self-storage facility. The three-building complex is slated for a 5-acre site on the southeast corner of W. 102nd Street and Cherry Lane that would comprise 609 units. The design includes three- and two-story buildings constructed into a slope that would appear as two- and one-story, respectively, when viewed from the north. The site is near single-family homes, apartments, a golf course and other commercial property.
Several residents oppose the plan. About a dozen spoke for three hours during the council meeting, citing concerns including lighting, increased traffic, potential crime and impact on property values. The city also received about 90 letters in protest. Several councilmembers in support of the project indicated they wanted to approve the final development plan before construction begins. Curtis Petersen, an attorney representing StorTropolis during the meeting, told the council the company is willing to tweak its final plans based on feedback from residents. StorTropolis operates four self-storage facilities in the Kansas City, Mo., metropolitan area.
Troy Self Storage, which operates two locations in Troy, Ala., plans to open a third in the city. The facility on Three Notch Loop will be built in phases, with the first 12,000-square-foot, climate-controlled building expected to open in the spring. A second building comprising 8,000 square feet will be added later, according to owner David Webb, who purchased the company 20 years ago. The company’s other sites at 816 U.S. Highway 231 S. and 409 E. Walnut St. also offer climate-controlled storage.
Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America, is seeking permission to build a facility in Elk Grove, Calif. The planning commission reviewed the plans for the 9.8-acre property at 10261-10277 E. Stockton Blvd. on Sept. 19 but took no action. The project will include a three-story, 122,364-square-foot building as well as 12 single-story structures comprising 2,500 square feet each. If approved, the facility would be complete in 10 months. Sacramento, Calif.-based Fite Development Co. is the general contractor.
Weiss Properties, a New Jersey-based real estate firm that specializes in developing and managing commercial and residential properties, intends to build a 111,900-square-foot self-storage facility in Willingboro, N.J., but officials don’t appear to favor the project. The facility would be built on 39 acres of vacant land owned by company affiliate Avery Associates LLC at the southwest corner of Pennypacker Drive and U.S. Route 130. Weiss owns The Avery, a neighboring 450-unit community of apartments and townhouses, and considers the self-storage project a second phase of that asset. Residents and officials appear to favor a restaurant or retail center, but Yoni Nevenansky, senior vice president of Weiss, indicated the developer has been turned down by Dunkin’ Donuts, Sonic and other restaurants.
Councilmember Nathaniel Anderson criticized the plan as being vague, and Mayor Martin Nock encouraged Weiss to consult with the county regarding market research it conducted on the Route 130 Corridor to see if there’s another viable use for the site. The council will continue to discuss the proposal once it received additional information from the developer.
Westport Properties Inc. (WPI), which operates more than 120 self-storage facilities under the US Storage Centers brand, opened a new location in Compton, Calif., it’s first in the city. The facility at 1901 W. El Segundo Blvd. comprises 142,000 square feet in 1,440 units. The project was completed through a partnership with Invesco Real Estate, a global real estate investment manager with $69.9 billion in real estate assets under management. Founded in 1985 and based in Irvine, Calif., WPI acquires, develops and operates self-storage facilities, and provides third-party management services. Its portfolio comprises more than 9 million rentable square feet in 15 states.
The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, has opened a new facility in Gainesville, Fla. The ground-up development at 2350 S.W. Archer Road is near the University of Florida. Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and operates more than 165 self-storage facilities in Arizona, California, Colorado, Florida, Hawaii, South Carolina and Texas.
A Mississippi-based developer purchased 2 acres in Daphne, Ala., on which it plans to build a self-storage facility. The property on U.S. Route 90 was sold for $1 million by Malbis Place LLC. The three-story facility will comprise 90,000 square feet and be managed by self-storage real estate investment trust CubeSmart and branded under its name. The land acquisition was brokered by Jeremy Friedman of Katapult Properties.
9/19/19 – 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 September 2019.
Real estate developer Bradbury Properties is entering the Wisconsin self-storage market with a new development in Oak Creek. The ground-up project at 275 E. Drexel Ave. will comprise 82,000 square feet. Once complete, it’ll be managed by CubeSmart and branded under its name. Based in Lone Tree, Colo., Bradbury has built 2 million square feet of commercial buildings and 1,500 apartments in the past two decades.
Entrepreneurs Ray Brunet and Gary Jans opened their first self-storage facility in Cornwall, Ontario, Canada. The partners recently completed the first phase of construction at Cornwall Storage Box, offering 20 climate-controlled units. Second and third phases will add 40 more units and are scheduled to be complete before year-end. The building at 127 Augustus St. also includes Studio 101 Hair Salon. The structure is being converted to mixed-use with assistance from the Heart of the City Community Improvement Plan. Brunet and Jans have been business partners since the 1980s, when they opened Ray-Jans Construction. In 2011, the partners launched Ray Jans Windows and Doors.
Cumbria Storage Solutions has opened in a former railway building in Wigton, a market town in Cumbria, England. Located in the Station Yard Business Park, the 33-unit facility is owned by Richard and Sarah Miller. It’s the couple’s first self-storage business. Sarah also launched an events business this year while Richard is a partner at legal firm Burnetts Solicitors. Active Supply & Design completed the renovation.
Planning officials last week approved a revised site plan from Fratelli Holdings LLC for a self-storage project in Vineland, N.J. The developer submitted and received support for a similar plan in 2008 but withdrew it because of the recession. The revision approved on Sept. 11 for the 7.9-acre property off 1680 N. Main Road drops the retail component in favor of additional storage units. The plans now include 16 buildings comprising 83,200 square feet and a 1,500-square-foot office. Construction will begin later this year.
Maple Leaf Self Storage is building a new facility in North Vancouver, British Columbia, Canada. The location at Capilano Road and Marine Drive will span two blocks and feature all climate-controlled, individually alarmed units. It’s scheduled to open this fall. Based in West Vancouver, Maple Leaf has operated for more than 40 years. Its portfolio comprises 15 storage facilities in Western Canada.
The Concord, N.C., Zoning and Planning Commission is holding a public meeting on Oct. 15 to discuss a proposed self-storage project by Sterling Development Group. The company is facing opposition from homeowners in its quest to build a three-story, 500-unit facility on 3.73 acres at 1261 Union Street S. Because the parcel is on the fringe of residential and commercial zones, it requires a special-use permit. Residents claim they heard about the development via a sign on a telephone pole. Clint Patterson, a developer with Sterling, told the source the company completed the proper procedures when entering into the contract to purchase the land. He noted that the facility won’t bump against the houses and the existing trees will act as a buffer. A group of neighbors plan to attend the meeting, according to Chris Criner, who owns a home in the area. Sterling acquires, constructs, develops and manages self-storage and multi-family housing in the Midwest and Southeast United States.
Storage World is developing a new self-storage facility in Manchester, England. The £3 million project is being built in Airport City, an £800 million expansion of the Manchester Airport that’s home to more than 200 businesses. The facility will comprise more than 68,000 square feet in 500 units. Scheduled to open in October, it’ll also include an office, warehouse and kitchen. Storage World operates two other facilities in Manchester.
The Hoover City Council approved the StoreEase self-storage project along State Route 150. The buildings will be designed to emulate those in the Ross Bridge Town Center, according to Blackwell. Though some residents in the neighboring Deer Valley community opposed a previous self-storage plan for the site, they appear to be favorable toward the revisions made for the approved plan.
The El Dorado County, Calif., Planning Commission approved a self-storage project proposed by Superior Storage Group. The property is within the El Dorado Hills Town Center West development on Latrobe Road and Town Center Boulevard. The company will convert the 89,470-square-foot former Precision Molding plant to storage. Phase one will comprise 592 units, while a second phase will expand the facility by 22,550 square feet in another 201 units. Built in 1996, the plant closed in 2004, at which time it became a warehouse. The structure has been vacant since 2014. Superior specializes in self-storage third-party management and offers consultation for construction, development, facility acquisition, sales and project funding.
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, is converting a former Kmart store in Richfield, Utah, to self-storage. The 87,690-square-foot building at 1080 S. Highway 118 sits on 6.71 acres. U-Haul Moving & Storage of Richfield is operating out of a temporary showroom, offering moving supplies, towing equipment and truck rentals. Once the renovation is complete, it’ll contain 600 indoor storage units as well.
U-Haul is also seeking approval to convert a former Kmart in Bluefield, W.Va., to self-storage. A public hearing will be held on Oct. 3 to discuss plans for the building on Cumberland Road. In addition to converting the existing structure, four 2,100-square-foot buildings would be added to the parking lot. Established in 1945, U-Haul owns more than 38 million square feet of storage space nationwide.
A rezoning request from Wabank Road Self Storage LLC for a property in Lancaster, Pa., has stalled after the township’s board of supervisors failed to reach a motion that would advance the request to the planning commission. The company seeks to build storage on an empty, residentially zoned plot at 1750 Wabank Road.
The Nashua, N.H., Planning Board approved a conditional-use permit and site plan for a five-story self-storage facility proposed by Boston-based real estate developer Weston Associates. The facility will be built on a 3-acre parcel, which is currently a parking lot. The building’s footprint will be about 24,000 square feet and include two loading zones and a vehicle turnaround. Planners previously approved variances to allow a gas station and convenience store on the southern portion of the lot. A 30-foot swath of land will be reserved for eminent domain related to the widening of the roadway. Variances for the project were rejected a year ago, but a new ordinance now allows self-storage within the general business zone with a conditional permit.
9/12/19 – 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 September 2019.
Todd Akers and his wife, Cathy, received approval on Aug. 27 from the Bland County Board of Supervisors to build Lucky Girl Storage in Rocky Gap, Va. The couple will operate the facility remotely. The two 30-by-140-foot buildings will be perpendicular to Eagles Road and North Scenic Highway and contain 63 total units. The first structure is expected to be complete by the end of the year, with the second finished next spring.
Real estate investment trust (REIT) Extra Space Storage Inc. is building a new facility in New Braunfels, Texas. Slated to open next summer, the facility at 1360 Ranch Parkway will comprise 100,000 square feet of climate-controlled storage. The exterior will feature a combination of stonework, and white and gray paneling. Headquartered in Salt Lake City, Extra Space owns or operates 1,696 self-storage properties nationwide and in Puerto Rico.
The Dickson County, Tenn., Planning and Zoning held public hearings and voted on three separate self-storage projects on Aug. 19. David Ford of Ford Enterprises requested rezoning of a property he owns on Buddy Road at its intersection with Loggins Road. He plans to build a 50-by-90-foot storage building and shop that would be similar to other structures in the area. The commission voted against the rezoning with a 3-7 vote. A request by David Lampleys to rezone his property on the corner of Abiff Road and Tennessee State Route 46 to allow for storage was approved on the first vote. There are currently two trailers and a cell tower on the 10-acre property. Lampley plans to build the storage units in front of the cell tower. A driveway would be added “with plenty of room so that it would not interfere with the intersection,” said David Darnell, planning and zoning director. The commission also approved a rezoning request for Pick's Mini Storage on the first vote. Owners Russell and Anita Pickard plan to tear down part of the building on the 2.4-acre property and add a residence in its place. A second vote is scheduled for Sept. 16.
Go Store It, the self-storage arm of real estate firm Madison Capital Group LLC, is building a three-story facility in Louisville, Ky., that’ll comprise 62,811 rentable square feet in 661 climate-controlled units. The $4.77 million construction loan was negotiated by Kim Bishop and Eric Snyder of Talonvest Capital Inc., a boutique self storage and commercial real estate mortgage brokerage firm. The five-year, fixed-rate construction loan was funded by a Midwestern based. It includes 36 months of interest-only payments and a prepayment burndown schedule. Madison acquires and develops storage in the Southeast and mid-Atlantic.
Indianapolis-based GRD Property Holdings LLC is building a mixed-use project in Fortville, Ind., that’ll include 500 self-storage units and office suites. Plans for the 8-acre parcel at 750 W. Garden St. calls for eight storage structures, two of which will be climate-controlled. It’ll also feature a 13,500-square-foot office building with nine suites, which will be built first, according to Adam Zaklikowski, Fortville planning administrator. GRD Owner Bob Herdrich also owns Fortville Self Storage at 603 W. Garden St. in Fortville. Construction will begin next month and be completed by early summer. The second phase will be finished within the next two years, Herdich told a source.
MA New Bedford & Washburn LLC purchased the former Satkin Mills Inc. textile manufacturing facility in New Bedford, Mass., with plans to convert it to self-storage. The property at 8 Washburn St. was sold for $1.8 million in February, according to a source. Once the renovation is complete, the building will comprise 53,706 square feet in 465 units. It’ll be managed by REIT CubeSmart and branded under its name. The developer’s parent company, Utah-based Patagon Ventures LLC, has built storage facilities in several states, including an Extra Space Storage property in Brockton, Mass., a source reported.
MV Commercial Development LLC is seeking zoning approval to build a three-story self-storage facility in Ormond Beach, Fla. A public hearing was held on Aug 27 to discuss the project for 263 S. Nova Road. It would include 92,000 square feet of climate-controlled storage and have a Mediterranean design, according to Michael Woods, an attorney with Cobb Cole, the legal firm representing the developer. The six residents in attendance expressed concern about large vehicles using the street Fernery Trail near the facility as an access point to turn around. Woods said the developer would investigate the issue. A second community meeting will be scheduled once site plans are finalized, a source reported.
The Reynoldsburg, Ohio, Planning Commission on Sept. 5 unanimously approved the conversion of a former Babies ‘R’ Us store to self-storage. Texas-based developer Oakview Capital Partners LLC will turn the 75,000-square-foot structure into 95,000 square feet of storage space. The building at 2686 Taylor Road S.W. has been vacant since the store closed last year. The storage facility will be managed by self-storage REIT and third-party management firm CubeSmart and branded under its name. The storefront is part of the Taylor Square shopping center. Oakview also intends to develop a freestanding, 11,000-square-foot retail building in the parking lot but must seek separate planning approval for that portion of the overall project.
StoreEase Development will present its proposal for a 700-unit self-storage facility to the Hoover City, Ala., Council on Sept. 16. The plans include building two climate-controlled structures comprising 90,000 square feet along Alabama State Route 150. Because of the terrain, the two-story buildings would be constructed into the sloping property but appear as single-story from some angles, according to former state Senator Slade Blackwell, a StoreEase partner. At least 80 percent of the exterior would be brick, and the color would match the bricks at the Ross Bridge Welcome Center, he said. Headquartered in Birmingham, Ala., StoreEase is involved with self-storage projects in the Southeast.
Phoenix-based U-Haul International Inc., which operates more than 1,600 self-storage facilities across North America and frequently recycles existing structures for its new locations, converted former Kmart stores in Flint, Mich., and Marshalltown, Iowa. The Flint facility opened on Sept. 1 at 3083 Miller Road. The 99,269-square-foot building comprises 800 indoor units. Additional services will be added to the 11.8-acre lot. Originally constructed in 1963, the building was vacated in 2016. The Marshalltown location opened with moving and truck-rental operations while self-storage construction is underway. The 98,174-square-foot building sits on 7.2 acres at 1702 S. Center St. It will yield about 50,000 square feet of storage space in 700 units. The project is expected to be fully operational by next spring.
U-Haul also proposed to develop a new moving and self-storage facility on 4.8 acres in Macungie, Pa. The property at 7785 Spring Creek Road would comprise a three-story building comprising 82,000 square feet in 700 units and an 8,000-square-foot second structure with 200 units. The parcel includes an existing farmhouse. U-Haul will hire a consultant to perform a historical review and make recommendations on what to do with it. The company has already agreed to preserve the foundation with a historical marker if the structure can’t be saved. U-Haul is hopeful to break ground on the project next spring, according to Mike Zemba, area district vice president.
Established in 1945 and based in Phoenix, U-Haul’s portfolio of owned and managed properties comprises 60.7 million square feet of storage space.
Worksop Self Storage recently opened a new facility in Shireoaks, England. The property began serving customers with more than 130 units and is building at least another 50. Parliament member John Mann recently toured the facility and was enthusiastic about the visit, according to Sophie Trueman, general manager for Worksop. The company began as a storage business in 2003 using wooden moving crates.
Real estate developer Chris Wyrick is building a self-storage facility and business center in Rogers, Ark. The two-story structure will be developed on 5.7 acres at 3909 W. Ajax Ave. Equity Storage will comprise about 73,000 square feet in 200 climate-controlled units and feature drive-in access for loading/unloading. The building will also house the J. Conrad Business Center, named after Wyrick’s father. It’ll feature two large conference rooms, additional meeting space, a lounge/entertainment area and modular rooms for vendors. Construction on the $7.8 million project is underway and scheduled to be complete early next year. Wyrick lives locally. He’s a longtime college athletics administrator and fundraiser.
Troy Messenger, Troy Self Storage to Add Indoor, Climate Controlled Facility
Yahoo Finance, StorQuest Self Storage Expands Reach in Gainesville, FL
AL.com, Developer Buys Acreage for Storage Facility
Burlington County Times, Willingboro Council Unimpressed With Route 130 Proposal
New England Real Estate Journal, HDS Architecture and 80 Elm Street Partners design/develop 56,475 S/F Watertown Self-Storage facility
Shawnee Mission Post, Lenexa Council Approves Storage Facility Proposal Opposed by Some Neighboring Residents
Tulsa World, California Company Plans to Construct $10 Million Self-Storage Facility Downtown
PR Newswire, DealPoint Merrill Announces the Acquisition of Tulsa World, a 47,521 Square Foot Warehouse on 2.066 Acres in Tulsa, Oklahoma
Manteca Bulletin, 636-Unit Self-Storage Planned for Central Lathrop
Sacramento Business Journal, U-Haul Plans Three-Story Project in Elk Grove
Atascadero News, Atascadero City Council Rejects Self-Storage Project
Bluefield Daily Telegraph, Public Hearing Set for Proposed U-Haul Facility in Bluefield
Choose Cornwall, Cornwall Storage Box Opens Downtown Facility
Cumbria Crack, New Self Storage Business Opens in Cumbria
Daily Journal, Vineland Approves Self-Storage Business
Hoover Sun, Hoover Council Approves Self-Storage Facility, Retail Center Along Alabama 150
Independent Tribune, Developer to Bring Self-Storage Facility to Concord Amid Opposition From Neighborhood Residents
Lancaster Online, Lancaster Township Self-Storage Plan Stalled
Milwaukee Business Journal, Colorado Developer 'Impressed' With Oak Creek, Plans Two Howell Avenue Projects
North Shore News, Maple Leaf Storage Expands Square Footage on the North Shore
Union Leader, One Year After Rejecting Proposal, Nashua Planners Approve Five-Story Storage Complex
Village Life, New Self-Storage Facility Planned for EDH
Yahoo Finance, First U-Haul Store in Richfield Emerging at Former Kmart
Community Impact Newspaper, Extra Space Self Storage Facility Coming to New Braunfels|
Daily Reporter, Storage Space, Offices Coming to Fortville
Hoover Sun, Hoover Council Sets Votes for Self-Storage Facility, Strip Center on Alabama 150
Ormond Beach Observer, Storage Project Proposed for Nova
PR Newswire, Adaptive Reuse: Flint Gets New U-Haul Store at Old Kmart Site
South Coast Today, Former Satkin Mills in New Bedford Sold to Self Storage Developers
SWVA Today, Mini Storage Coming to Rocky Gap
Talk Business & Politics, Ex-Razorback Administrator Joins Commercial Real Estate Fray in Rogers
Tennessean, Is Dickson County ‘Turning Into Storage Units’?
The Morning Call, U-Haul Looking to Build Large Self-Storage Site in Lower Macungie
ThisWeek Community News, CubeSmart Facility to Replace Babies ‘R’ Us in Reynoldsburg
Times-Republican, Local U-Haul Up and Running in Former K-Mart Building
Worksop Guardian, Bassetlaw MP Invited to Officially Open New Storage Centre in Worksop
Yahoo Finance, Talonvest Arranges Construction and Bridge Financing for Go Store It