The Roll Up: Weekly Self-Storage Development News 2.16.22
In New York, the Yonkers Industrial Development Agency approved financial incentives for a $15.4 million CubeSmart self-storage project at 1060 Nepperhan Ave., to be built by KCT Inc., and preliminary approval for financial incentives to a $15.8 million self-storage project at 1969 Central Park Ave.
The CubeSmart project involves finding another home for the current occupant, Health Products Corp., and demolition of the current 9,820-square-foot building. The CubeSmart would be eight stories and include 100,000 square feet of space for 750 to 900 units. Construction is estimated at 14 months. KCT Inc. garnered a recording tax exemption of about $231,573 plus a sales tax exemption of approximately $444,846.
The Central Park Avenue project would have a retail component, with 91,181 square feet for storage and 5,815 square feet of ground-level retail. 1969 Central Park Avenue LLC is the developer. Source: Westchester & Fairfield County Business Journals
Insite Development Partners of Torrance, CA, has applied for approval to build a SecureSpace self-storage facility at 825 Route 22 westbound at Wilson Avenue in North Plainfield, NJ. Insite would like to demolish the vacant building on the 2.18-acre site, former home of Best Friends Pet Care, and build a three-story, 90,078-square-foot facility with 109 parking spaces. It would require a change in variance because a self-storage facility is not permitted in the zone. A zoning board meeting is scheduled for Feb. 16. Source: My Central Jersey
Self Storage Plus obtained its first management assignment in Florida at 450 Ansin Blvd. in Hallandale and plans to seek more. The facility has both climate-controlled and drive-up units as well as both covered and uncovered car and RV parking. Self Storage Plus has 51 locations in the Washington, D.C-Baltimore area. Source: Self Storage Plus
Marcus & Millichap announced the sale of Freedom Storage Development (pictured above), which is a 1.93-acre development-ready parcel at 4119 Murfreesboro Pike in Nashville, TN. Andy Beeckman, an associate with Marcus & Millichap, and Ann Williams-Blackwell, first vice president investments in the Memphis, TN office, had the listing. The seller is a private investor. The duo also represented the buyer, a REIT. Site plans have been approved for a three-story climate-controlled facility with 598 units and 71,744 NRSF. Source: Marcus & Millichap
Abreu Development, fresh off of landing a $13.35 million construction loan, began building North Miami Self Storage in North Miami, FL. It’s a three-story, 124,368-square-foot structure designed by architect Kenneth R Carlson of Deerfield Beach, FL. Jaime Rose Maniscalo of Apex Capital Realty brokered the sale, in which 135 Memorial LLC in Weston, FL, sold the 1.45-acre site at 250 N.W. 135th St. for $3 million to North Miami Self Storage LLC. Source: South Florida Business Journal
West Coast Self Storage opened a new facility called West Coast Self-Storage Lacey, at 3933-B Pacific Ave SE in Lacey, WA on Feb. 15. It’s across the street from the South Sound Center shopping mall. It has 647 units, including 634 with interior access, plus 13 drive-up units. Source: Patch.com
Originally published on SpareFoot.com
Storage Authority sees post-pandemic bump for self-storage franchises
These are fast times at Storage Authority, which is the only company nationwide that sells self-storage franchises to investors and other interested parties.Keep Reading
Sold! Weekly Self-Storage News Round Up 6.22.22
The Vault at Riggs Road LLC disposed of its 150,260-square-foot storage and RV building in Chandler, AZ for $25.5 million.Keep Reading
The Roll Up: Weekly Self-Storage Development News 6.22.22
U-Haul Moving & Storage now is operating at the former Kmart store in Lawton, OK and it intends to add more than 800 indoor climate-controlled units there.Keep Reading