Miami-based developers plan to build a six-story, 110,000-square-foot self-storage facility, with Extra Space Storage to manage it. The Falls Storage LLC, a partnership between J. Brett Houston of Houston Partners and Robert Lechter of Rems Group, owns the 0.73-acre site at 8560 S.W. 29th Terrace in southern Miami-Dade County, north of the mall and one block west of U.S. 1. The partnership would knock down the warehouse that sits on the site. The developers bought the property for $2.3 million in early 2021. Blitstein Design Architects, based in Coral Gables, FL, designed the upcoming project (below). Boca Raton, FL-based DC Construction Associates will be the general contractor. Source: South Florida Business Journal
Mag Mile Capital of Chicago, ILplans to buy and renovate a former Sears store into an 854-unit, 83,040-square-foot self-storage facility at 1200 Southland Mall in Memphis, TN. Matt Weilgus, senior vice president and head of originations, completed a $4 million loan in order to make the transaction. It will be branded by Public Storage. The facility will be located inside the first enclosed mall in the mid-South. Source: Mag Mile Capital
In Connecticut, the Newtown Inland Wetlands Commission heard a presentation about a five-building self-storage facility with a total of 37,000 square feet at 10 Commerce Road. 19 Commerce Road LLC has applied to build the facility, which would sit on 5.6 acres. Source: Newtown Bee
In Pennsylvania, Cumberland Township supervisors approved a conditional use for a project at Fairfield and Willoughby Run roads. The township’s zoning appeals board still has to vote on the project. Plans call for seven one-story buildings with a combined 44,500 square feet. Source: Gettysburg Times
The Board of Zoning Appeals rejected a special-use permit and variances that would have enabled Menard Inc. to develop an outdoor self-storage business near Milwaukee, WI’s former Northridge Mall. Menard wanted to add the units to the parking lot of a former Pick ‘n Save supermarket at 8120 W. Brown Deer Road. Menard operates a neighboring home improvement store. It wanted to add 246 units on the perimeter of the 3-acre parking lot. The projected cost was estimated to be between $2 million and $3 million. Source: Milwaukee Journal Sentinel
Arborwood Self Storage LLC bought an 8.77-acre parcel at the northwest corner of Treeline Avenue and Daniels Parkway in Fort Myers, FL on June 15 from Courtelis Co. The purchase price was undisclosed. Arborwood plans to break ground on a 100,000-square-foot climate-controlled facility. Life Storage is branding the site. Future development of a second phase is planned. Mike Maurer of William Raveis Real Estate in Naples, FL, represented the buyer. Source: LIST Self Storage
The Commercial Real Estate Division of Bank Rhode Island closed a $3.5 million construction loan with Malibu Investments LLC to provide a second round of financing to expand 401 Storage in Warwick, RI to more than 100,000 square feet. The project will add 292 units for a total of 917, of which 517 will be climate-controlled. The site is in the Greenwood section of Warwick, near interstate highways 295 and 95. Steve Medeiros and Richard Nardella are the project developers. Keb Brackenbury, senior vice president, commercial real estate team Leader for Bank RI, facilitated the transaction. Source: Warwick Online
