The Roll Up: Weekly Self-Storage Development News 5.18.22
Peak Management LLC of Nottingham, MD, shared its plans to build a three-story YourSpace Self Storage (below), on a commercial lot on Route 16, near Union Street Extended in Milton, DE, with the Milton Planning and Zoning Commission. The property currently is zoned C-1 commercial. Self-storage would require a special-use permit. Peak Management is a family-owned business with 11 storage facilities, mostly in Baltimore and Frederick counties in Maryland. This project is in Sussex County. Source: Cape Gazette
The Area Plan Commission in Tippecanoe County, which includes Lafayette, IN will take a final vote on an ordinance that would require self-storage businesses building within urbanized sewer areas to apply for a special exception. Much of Lafayette is inside such areas. This comes in response to the the historic Coca Cola building in Lafayette being reworked into indoor and outdoor storage units. Source: WLFI
The planned Courthouse Landing in Richmond, VA, is expected to have 115,000 square feet for self-storage plus commercial space, residential units, and hotel and other uses in a new development near Chester. VCU Health may become an anchor at the new development, with an outpatient facility and offices. Source: RichmondBizSense.com
U-Haul plans to convert a former 95,520-square-foot Kmart store in a self-storage facility at 1075 W. Jackson St. in Morton, IL. Right now, U-Haul Moving & Storage of Morton provides basic U-Haul services. It plans to add 750 climate-controlled units at the site.
U-Haul also is converting a Kmart store in Rock Springs, WY into a 700-unit storage facility and recently purchased a former 81,864-square-foot Maiers Transport & Warehousing Property in St. Cloud, MN. Source: Multi-Housing News
Several million dollars of self-storage projects are being built in the Tri-Cities area in Washington state. ABC Mini Storage, under Ryan Daley, president, is building a storage site on Richland’s Wellsian Way.
Daley’s Spokane, WA-based company bought the 1.8-acre Richland property for $595,000 in 2017. He’s been trying to open the facility for years. ABC Mini Storage plans to build five buildings, a project totaling $7.5 million. The project includes vacating Davenport Street and extending Comstock Street. The final product will offer 63,000 square feet of rentable space between 385 units. It’s scheduled to open in September. Source: Tri-Cities Business News
Sold! Wedgewood sells TN storage operation for $17.3M
Nashville-based Wedgewood Avenue sold the four-property self-storage portfolio in Murfreesboro, TN to Highline Storage Partners.Keep Reading
The Roll Up: Baranof sells stake in newly built SoCal facilities
Clarion Partners is Baranof’s new partner, buying out the ownership stake formerly held by Invesco Real Estate. The facilities are located in Los Angeles and San Diego.Keep Reading
The Roll Up: Public Storage and Atlanta Botanical Garden strike land swap deal
A Public Storage facility next to the Atlanta Botanical Garden will be torn down to make room for expansion. A replacement facility will be constructed on an alternate site nearby.Keep Reading