NitNeil Partners plans to build a five-story self-storage facility at 25856 Highway 19 in Clearwater, FL. It will sit on an 0.25-acre site that the company bought in June. It will have 725 climate-controlled units across 70,000 rentable square feet. Construction will begin in January 2023.
Planned
DXD Capital received a $12.93 million construction loan to build a 99,990-square-foot storage facility in Lake Park, FL. Century Bank, based in Santa Fe, NM, provided the mortgage to DXD F1 Lake Park LLC, which Drew Dolan of Albuquerque, NM-based DXD Capital manages. The 1.26-acre site is at the southeast corner of Watertown Road and 14th Street. The project is one of 10 self-storage developments that DXD Capital seeks to finish nationwide after raising $50 million for an investment fund. Source: Albuquerque Business Journal
The Board of Commissioners approved developer Turnstone Group’s request to rezone property at 813 Jonesboro Road in McDonough, GA. A three-story building will have indoor units in the back and business rental space in the front (pictured below). Source: Henry Herald
Developer Guilderland Realty Partners LLC wants to build 93,000 square feet of self-storage on vacant land along Western Avenue in Guilderland, NY. The company proposes a three-story, 93,600-square-foot, indoor climate-controlled facility at 1583 and 1593 Western Ave. The properties formerly were the site of Magley’s Trailer Park. Now, Crossgates Mall owns them. Guilderland Realty Partners has a contract with Crossgates to buy the newly drawn parcel. Source: The Altamont Enterprise
Middletown Self Storage proposes to build a two-story, 17,000-square-foot storage building – similar to the one at 909 Aquidneck Ave. – on Valley Road in Middletown, RI. It would go on a vacant lot north of the police station and south of the plaza that’s home to Eye Vision Health Center. The Planning Board considered a concept review of the project, which would go on 1.5 acres, on Sept. 14. Source: Newport Daily News
Under construction
A $12.87 million loan will enable developers to soon start building a six-story, 110,000 square-foot self-storage facility (above) near the Falls mall in southern Miami-Dade County, FL. Stuart, FL-based Seacoast National Bank provided the mortgage to Aventura-based Falls Storage, a partnership between J. Brett Houston of Houston Partners and Robert Lechter of Rems Group. It covers the 0.73-acre site at 8560 S.W. 129th Terrace, just north of the mall and a block west of U.S. 1. There’s a warehouse there that will be demolished. Extra Space Storage will manage the site. Blitstein Design Architects of Coral Gables, FL designed the project. Boca Raton-based DC Construction Associates of Boca Raton, FL, will be the general contractor. The developers bought the property for $2.3 million in early 2021. Source: South Florida Business Journal
Spartan Investment Group announced it has started construction of an additional self-storage facility at the existing FreeUp Storage at 4044 County Road 384 in Tyler, TX, with Spartan Construction putting up the building. It will gain nearly 54,000 square feet of space, spread over two climate-controlled buildings, plus another 15 RV/boat storage spots. It will be the third self-storage facility in the Tyler area Spartan has expanded. FreeUp Storage is Spartan’s brand of owned and managed self-storage facilities. Spartan is a Golden, CO-based, privately held real estate investment firm specializing in self-storage. Construction is projected to finish in October. Spartan has an 18-property Dallas-Fort Worth portfolio.
Legislative
Rick LoCastro, commissioner of Collier County in Florida, wishes to pause self-storage developments in part of his district – but only one commissioner agrees with him. LoCastro proposed a temporary moratorium on new projects along part of U.S. 41 from Airport Road to Collier Boulevard, saying other uses should be explored after the addition of storage units along the main road. Source: Naples Daily News
