The Roll Up: Weekly Self-Storage Development News 6.29.22
Three business owners plan to build a 100,000-square-foot self-storage facility called Roadrunner Storage in Rio Rancho, NM, and expand breast cancer awareness with each sale.
The owners are Mark Chavez; Esmail Haidari, who owns the Roadrunner property, and will serve as general contractor for the approximately $5 million project; and Julie Villegas, president of Road Runner Redi-Mix, an Albuquerque, NM concrete company started in 2006. Chavez is president of Chavez Concrete Pumping and treasurer of Chavez Concrete Contractors. Redi-Mix and Chavez Concrete Pumping will do the concrete work. JPR Construction Supplies will supply rebar and formboard.
Work will begin in July, with plans for about 470 units; between 40 and 50 will be saved for boat and RV storage. The facility will donate a portion of revenue from each locker rental. Chavez has worked on four self-storage siter for Arco Murray, with two each in Albuquerque and Santa Fe, NM. Source: New Mexico Business Journal
Safe N Lock Self Storage, which develops and owns self-storage facilities managed by the Life Storage brand, plans to build one in Copiague on Long Island, NY (above). The site is on a lot on the north side of Sunrise Highway, west of Court Street. Construction will take about 18 months. The company plans to partially demolish an existing building and build a 38,890-square-foot three-story structure. Safe N Lock has 18 facilities in the New York City area, with two already on Long Island, and has eight projects under development, including this one. Source: LongIsland.com
A Go Store It self-storage facility is planned for 2404 Goose Creek Bypass in Williamson County, TN by Darek Bell, a Nashville, TN real estate investor, distiller and entrepreneur, and Neil Dyer, a real estate executive. The four-story building will be located in Franklin’s Berry Farms at the former Goose Creek Inn site. It will have 151,000 square feet. Bell, founder of Corsair Artisan Distillery, and Dyer are members of an LLC that bought the property for an undisclosed sum. Go Store It is a privately held self-storage development, acquisition, property and asset-management company based in Charlotte, NC. It was founded in 2013. Madison is planning more Go Store It facilities in Tennessee. Source: Nashville Post
In Massachusetts, the Westfield Planning Board approved a site plan for a self-storage business near Arm Brook. Geeleher Enterprises was given a special permit for four climate-controlled buildings of 16,275 square feet; 13,650 SF; 5,600 SF and 5,400 SF on a 19.5-acre parcel west of Southampton Road. The project still needs the approval of the Conservation Commission. Source: Masslive.com
Capital 360 LLC secured a construction loan of $22.78 million for a three-story self-storage facility at 7891 Deering Ave. in Canoga Park, CA. It will have 1,433 climate-controlled units spread over 134,510 NRSF plus 12 RV parking spaces on a 2.8-acre site in the San Fernando Valley, about 28 miles northwest of downtown Los Angeles. The loan has a five-year fixed interest rate with four years of interest-only payments, no prepayment penalty and one 60-month extension option. Talonvest Capital Inc. arranged the loan for Capital 360. The negotiations team included Jim Davies, Kim Bishop, Tom Sherlock, Parker Crockett and Thalia Tovar.
The Roll Up: Weekly Self-Storage Development News 8.10.22
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