Update 9/23/21 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is additional activity taking place in September 2021.
U.K. self-storage operator Big Yellow Group PLC is building new facilities in Hove and London, England. The Hove project will comprise up to 58,000 rentable square feet, including 4,700 square feet of flexible office space. The London project, in the Kings Cross district, will comprise 106,000 rentable square feet, including flex-office space and wine storage. It’s expected to open in summer 2023. Both facilities were designed by Mountford Pigott LLP. McLaren Construction Group will serve as general contractor. Big Yellow operates more than 100 locations in the U.K. under the Big Yellow Self Storage and Armadillo Self Storage brand names, with most concentrated in Greater London and Southeast England.
Private-equity firm The Carlyle Group is building a self-storage facility in the Crown Heights neighborhood of Brooklyn, New York. The property at 1223 E. New York Ave. is the site of a former Western Beef meat market. A Carlyle subsidiary acquired the 43,000-square-foot lot in November for $13 million from Criterion Group, which had received approval to construct a three-story self-storage facility there. Carlyle has renewed the permits, though some aspects of development have been temporarily halted after a neighbor complained construction was causing cracks in his basement. Carlyle deploys private capital across four business segments: corporate private equity, global credit, investment solutions and real assets.
Real estate development firm Cogent Capital Group intends to convert a former Shopko store in Racine, Wisconsin, to self-storage. The $4 million project at 4801 Washington Ave. is expected to be complete by mid-spring next year. The structure, which has been vacant for two years, sold in August for $2.7 million. Based in Chicago, Cogent has developed more than 25 self-storage facilities in the last eight years.
Energy Technology Unlimited of Minnesota LLC is converting a former Land O' Lakes plant in Faribault, Minnesota, to self-storage. The city approved a conditional-use permit to construct outdoor vehicle storage at 1612 7th St. N.W. The 3.5-acre parcel includes a 43,583-square-foot building. Founded in 2011 and based in the same city, Energy Technology is a supplier of solar-energy equipment.
Island Self-Storage completed an expansion next to its existing facility in Hamilton, Bermuda. The project on Mill Creek Road comprises 3,250 square feet in 10 units ranging from 80 to 576 square feet. Island has expanded four times since opening in 2010. It offers 16,000 square feet of climate-controlled space.
Real estate developer Johnson Development Associates is building a three-story facility in Glen Head, New York. The company purchased the 2.5-acre property at 180 Glen Head Road for $3.1 million. Plans include a 100,607-square-foot building that’ll be managed by self-storage real estate investment trust Life Storage Inc. and branded under its name. Based in Spartanburg, South Carolina, Johnson owns commercial and industrial properties including self-storage, multi-family rental communities and single-tenant industrial space.
Lincoln Highway Storage LLC is converting an abandoned car lot in Falls Township, Pennsylvania, to self-storage. The existing buildings at 957 Lincoln Highway will be demolished. In their place, Lincoln will erect a pair of two-story, 30,000-square-foot buildings, plus two single-story structures totaling 15,310 square feet.
The Elgin, Illinois, Planning and Zoning Commission voted 5-1 against recommending a self-storage proposal by Jeff Pelock following protests from residents. Plans for the vacant parcel near Randall Road and Route 20 include five single-story buildings comprising more than 90,000 square feet in 700 units. Pelock told the commission he was aware of the homeowners’ concerns and incorporated items such as berms and landscaping to provide a buffer. The city council will have the final say on the project.
After making adjustments to its original design, Safeguard Self-Storage received approval to build a new facility in Stamford, Connecticut. The multi-story building at 535 Hope St. will replace United House Wrecking, which didn’t conform to the existing zoning. It’ll comprise 44,133 square feet. Board members expressed concerns about the structure not blending with the area and had mixed reactions about the use of the company’s signature canary yellow on the façade. The new plan incorporates the yellow as an accent and includes more landscaping. Founded in 1989 and headquartered in Atlanta, Safeguard operates more than 80 facilities in Florida, Illinois, Louisiana, New Jersey, New York and Pennsylvania.
Trojan Storage, which operates 28 properties in California, Oregon and Washington, intends to build a new facility on a 2.8-acre vacant lot in the Arleta neighborhood of Los Angeles. The property at 14201 S. Paxton St. would comprise 167,000 square feet in two structures, including a three-story building, an 1,100-square-foot office and 1,600-square-foot manager’s residence.
Tulfra Real Estate received approval to build a self-storage facility in Jersey City, New Jersey. The property at 300 Thomas McGovern Drive will comprise 265,000 square feet. Based in Rochelle Park, New Jersey, Tulfra is a real estate development, investment and management company. It has owned or developed more than $1 billion in commercial and industrial properties in Northern and Central New Jersey over four decades.
Phoenix-based U-Haul International Inc. is converting the former GE Oil & Gas office complex in Oklahoma City, Oklahoma, into a self-storage and a truck-rental center. The 19.3-acre property at 5500 S.E. 59 includes a 110,940-square-foot light-industrial warehouse built in 1969, a 14,000-square-foot office building constructed in 2001, and a 9,400-square-foot industrial warehouse built in 2015. The company acquired the property in August for about $5.1 million. The conversion is expected to be complete this winter.
U-Haul is also constructing a new facility on a 10.57-acre parcel in St. Augustine, Florida. Expected to open next year, the five-story building at 6810 U.S. Hwy. 1 N. will comprise 130,000 square feet in 800 units. Established in 1945, U-Haul owns and manages nearly 71 million square feet of storage space nationwide.
The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, opened a new location in Sacramento, California. The newly built facility at 5701 Mack Road is the company’s ninth in the city. It offers climate-controlled, drive-up and vehicle-storage units. Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and manages more than 200 self-storage facilities nationwide.
9/9/21 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is activity taking place in September 2021.
Real estate investment-management firm Canvass Capital intends to develop a SafeNest Storage location on the site of a former World of Clothing store in Hendersonville, North Carolina. The project would include 60 covered boat/RV-storage spaces, and the site must be rezoned from a highway-business use to highway-business conditional. A pre-existing office building may be converted into additional storage, though the developer may keep it as-is. Officials will begin reviewing the proposal this month. Based in Charlotte, North Carolina, Canvass has investment interests in industrial, marina, office, residential, retail and self-storage properties. SafeNest operates 16 locations in the Carolinas.
A CubeSmart-managed self-storage property opened in Macon, Georgia. The facility at 400 Pio Nono Ave. was converted from a former Kroger supermarket that had been vacant for several years. Owned by Yitz Radinowitz, it offers interior, climate-controlled units.
Real estate developer Forrest Robinson received approval from Missoula County, Montana, commissioners to construct a 13-building self-storge facility on 10 acres at the intersection of Highway 93 and Rowan Street. The 744-unit project will be built in two phases, with 466 units in phase one. The site is near a planned brewery and other retail. An influx of development along the highway has prompted officials to examine highway safety along the corridor.
Real estate firm Legacy Land Holdings IV LLC received a special-use permit to develop a self-storage facility on 2.5 acres in Duluth, Georgia. The three-story building at 2695 Buford Highway will offer up to 740 climate-controlled units. The city amended its Unified Development Code in May to allow indoor self-storage within the zoning district with special-use approval, but no outdoor storage will be allowed. Legacy is based in Suwanee, Georgia.
U.K. self-storage operator Lok'nStore Group PLC intends to build a four-story facility in Kettering, England. Near retail establishments, the site at Pytchley Lane and Pytchley Road has been vacant for decades, and town officials are expected to decide on the project by year-end. If approved, it’ll comprise 5,600 square meters of floor area. Founded in 1995, Lok’nStore operates 35 facilities in Southern England.
The Amsterdam, New York, Planning Board approved an amended special-use permit that’ll allow Merit Hill Capital to add 34 vehicle-storage spaces to an existing facility at 4786 Route 30, which is managed by real estate investment trust Life Storage Inc. The project includes 40-foot stalls on a paved area along the front of the property and 20-foot spaces around the perimeter. The developer will also add a 6-foot perimeter fence with keypad access and an emergency gate at the rear of the property for first responders. The fence required an amendment the company’s existing special-use permit. Merit Hill is a New York-based real estate investment firm that acquires, owns and manages self-storage properties nationwide. It operates 130 facilities in 30 states.
Smartlock Self Storage is converting the former Fancy Flamingo Flea Market in Joplin, Missouri. Plans for the property at 5171 N. Main St. include climate-controlled units. Smartlock operates three fully automated facilities in Bridgeport, Hillsboro and Temple, Texas.
SmartStop Self Storage REIT Inc., which operates facilities in 19 U.S. states and Toronto, opened a newly constructed location in Oshawa, Ontario, through its partnership with SmartCentres. It’s the company’s 18th owned or managed property in the Greater Toronto Area. The four-story facility at 600 Fox St. comprises 95,000 square feet in 950 climate-controlled units. SmartStop is headquartered in Ladera Ranch, California. Through its indirect subsidiary SmartStop REIT Advisors LLC, it sponsors other self-storage programs and has $1.8 billion of real estate assets under management.
Storage Deluxe, which operates 21 facilities in Connecticut, New Jersey and New York, plans to convert the former Astoria Sports Complex in Queens, New York, to self-storage. The company purchased the 53,500-square-foot building at 34-38 38th St. for $20 million and plans to add seven stories to the top of the structure. Slated to open in early 2023, it’ll comprise 125,000 square feet.
StorageMart, which operates more than 200 self-storage properties across Canada, the United Kingdom and the United States, has opened a newly built facility in Overland Park, Kansas. The building at 7240 Shawnee Mission Parkway offers climate-controlled units.
The Stor-House Self Storage received site-plan approval for a new location being built as part of a mixed-use development in Yelm, Washington. The 30-foot-tall facility was greenlit when officials approved the Tustin Apartments at 105 Creek St. S.E. a few years ago. The developer is awaiting its building permit. The Stor-House operates three self-storage facilities in Washington.
Summit Storage opened in Kennewick, Washington. The facility at 9501 W. 10th Ave. comprises 80,700 square feet in 642 drive-up units. Developed by D&D Tri-Rivers Excavating Inc. and Matson Development LLC, it was designed by Spink Engineering and built by Hummel Construction and Development LLC. It’ll be managed by West Coast Self-Storage Group, an Everett, Washington-based company that has 83 managed and owned facilities in California, Oregon and Washington.
Phoenix-based U-Haul International Inc. is converting an empty warehouse in Charlotte, North Carolina, to storage. Once renovated, the 132,840-square-foot building at 11900 Steele Creek Road will offer 700 indoor, climate-controlled units. U-Haul purchased the 10.7-acre property in June.
U-Haul is also converting a former Kmart in Webster, Massachusetts. Once complete, the 125,737-square-foot building at 74 Worcester Road will offer 750 indoor, climate-controlled units.
U-Haul will also convert a former TD Bank call center in London, Ontario, Canada, to a self-storage and truck-rental center. The company recently acquired the 135,000-square-foot structure at 745 York St. for $9.7 million. The project is expected to begin next month.
Finally, U-Haul has purchased a 6.23-acre parcel in Carlsbad, California, on which it plans to build a new facility. The company bought the site west of South Canal Street and U.S. Highway 62/285 in July. Expected to be complete next year, the three-story building with comprise more than 100,000 square feet in 700-plus units. Established in 1945, U-Haul owns and manages more than 71 million square feet of storage space nationwide.
New Sources:
Bernews, Island Self Storage Business Expands Facility
Bolly Inside, Self-Storage Business Approved for the Former United House Demolition Site in Stamford
Bucks Local News, Falls Township Advances Land Development Plans for Northpoint, New Self-Storage Facility
Fairfield Citizen, Self Storage Business Approved for Former United House Wrecking Site in Stamford
Daily Herald, Elgin Planners Swayed by Neighbors Opposing Proposed Self-Storage Business
KRFO Radio, Faribault Set to Welcome in Another New Business, This Time Along 7th Street
Long Island Business News, Self Storage, Library Coming to Glen Head Site
LoopNet, Listing
PBC Today, McLaren Bags Duo of Self-Storage Contracts
PR Newswire, U-Haul Reveals Plans for Self-Storage Facility in St. Augustine
PR Web, New StorQuest Self Storage Helps South Sacramento Residents ‘Make Room for Awesome’
ROI-NJ, Tulfra Acquires 265,000 Sq. Ft. Site for Storage, Parking Project in Jersey City
The Journal Times, A Facelift: New Self-Storage Facility to Overhaul Former Shopko Building
The Oklahoman, Sustainability Drives U-Haul to Buy, Adapt and Reuse former GE Oil & Gas Offices in OKC
The Real Deal, Carlyle Group Scores $32M Construction Loan for Crown Heights Storage Facility
The Real Deal, Trojan Storage Plans Large Self-Storage Facility in San Fernando Valley
Previous Sources:
Benzinga, U-Haul Acquires Land to Create Self-Storage in Carlsbad
The Joplin Globe, Wally Kennedy: Former Flea Market Site Bought by Self-Storage Business
Maryville Forum, SmartStop Self Storage REIT, Inc. Opens Newly Constructed Facility in the Greater Toronto Area
PR Newswire, U-Haul Conversion of Empty Warehouse will Eliminate Blight, Create Jobs in Charlotte
PR Newswire, StorageMart Builds Brand New Store in Overland Park, Kansas
The Real Deal, “Heartbreaking:” Astoria Sports Complex Sells to Self-Storage Developer
PR Newswire, U-Haul Reuse of Former Kmart Will Bring Benefits to Webster
WGXA, CubeSmart Self Storage Facilities Come to Macon
The Atlanta Journal-Constitution, Duluth Approves Mini Warehouse and Storage Units on Buford Highway
BlueRidgeNow, Safenest Storage Looks to Open 2nd Hendersonville Location at Former World Of Clothing Site
KPAX, County Approves 733 Storage Units for Lolo; Highway 93 Safety Remains a Concern
Nisqually Valley News, Storage Business Embarks to Next Stage of Development Process
North Hamptonshire Telegraph, Storage Facility Planned for Site Near Kettering Supermarket
The Daily Gazette, Self-Storage Site to Add RV, Vehicle Parking in Amsterdam
The London Free Press, U-Haul Depot Coming to Former TD Call Centre East of Downtown Core
