Talonvest Capital Inc. of Irvine, CA – along with their client Strategic Storage Growth Trust III Inc. – announced the closing of a $23.4 million bridge loan financing the certificate of occupancy acquisition of a facility in Chula Vista, CA. Strategic Storage is a private company that wants to qualify as a REIT with sponsorship from SmartStop Self Storage. The property is the third purchase made by SSGT III. The newly built property has both climate-controlled and non-climate-controlled units, plus 66 drive-up units spread across 110,000 square feet of net rentable space. The Talonvest team that worked on this transaction are Britt Taylor, Eric Snyder, Jim Davies, Ivan Viramontes and Thalia Tovar.
Source: Talonvest
Planned
Marcus & Millichap arranged the sale of a self-storage development site in New Haven, CT (above). The project has approvals and construction documents in place, and proposes a four-story facility with 45,525 NRSF and 456 climate-controlled units. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe, had the listing and found the buyer. Both the seller and buyer are LLCs. John Krueger, Connecticut broker of record, helped close the transaction. Source: Marcus & Millichap
A new self-storage facility is coming to New Milford, CT. The Inland Wetlands Commission on Feb. 9 approved developer HREA-June LLC’s application to build three storage buildings plus a warehouse facility at 176 Sunny Valley Road. The latter will focus on parking, utility connections and a stormwater management system. Source: The Register Citizen
A developer is seeking zoning relief as it hopes to win approval to build a four-story self-storage facility with 1,200-plus units at the defunct, 115,000-square-foot Old York Ice Rink in Cheltenham Township, PA. Commissioners voted “No Action” on the current plan at the February Building and Zoning Committee meeting. Source: GlensideLocal.com
Entreposage Montreal Mini-Storage held a grand opening of its newest facility in the Montreal, Quebec, Canada neighborhood of Hochelaga Maisonneuve. It’s located at 5090 Rue Hochelaga. It converted a building to hold around 600 units on two floors. It’s the company’s 23rd self-storage facility. Source: PR Newswire
Developer K.D. Moore (KBM Commercial Properties) is building a storage center and a TruShine car wash near the Food City at 1912 Highway 394 in Blountville, TN. It will be the first phase of a project on about 21 acres that Moore bought in June 2022 for under $900,000. Second-phase plans are near completion. Moore said the car wash and storage site will be valued at around $10 million. The storage facility will have both climate-controlled and non-climate-controlled units, and will take up 75,000 square feet in five buildings on 4 acres. The storage units are planned to open in late fall. Source: WJHL.com
Under construction
Developer K.D. Moore (KBM Commercial Properties) is building a storage center and a TruShine car wash to 6.5 acres near the Food City at 1912 Highway 394 in Blountville, TN. It will be the first phase of a project on about 21 acres that Moore bought in June 2022 for under $900,000. Second-phase plans are near completion. Moore said the car wash and storage site will be valued at around $10 million. The storage facility will have both climate-controlled and non-climate-controlled units, and will take up 75,000 square feet in five buildings on 4 acres. The storage units are planned to open in late fall. Source: WJHL.com
