StorageMart, which operates self-storage properties across Canada, the United Kingdom and the United States, has acquired Air Station Storage in Virginia Beach, Va. It’s the company’s first location in the area and its 200^th facility overall, according to a press release.

The property at 4416, 1889 Virginia Beach Blvd. comprises 78,979 square feet of rentable storage space in 560 storage climate-controlled and drive-up units. It’s just off Interstate 264 and near Naval Air Station Oceana, a military airport and U.S. Navy Master Jet Base. Features include two interior loading bays, PIN-controlled access and video cameras.

“We’re thrilled to open a StorageMart in Virginia Beach,” said Cris Burnam, president. “We're committed to bringing easy, clean storage service to the area, and look forward to becoming part of the local community.”

The seller was represented in the transaction by Ryan Clark, director of investment sales for SkyView Advisors, a Tampa, Fla.-based investment-sales and advisory firm focused on the self-storage industry.

StorageMart also acquired two properties in the Des Moines, Iowa, metropolitan market last month. Together, the facilities in Grimes and Waukee comprise more than 50,000 square feet in 450 units. The company plans to purchase a third Des Moines property as well as another site in Chaska, Minn.

“We're working hard to hit our goal of 300 stores by 2021,” Burnam said. “Our acquisitions team is searching to find suitable locations, both new developments and storage facilities for sale by owner.”

Founded in 1999 and based in Columbia, Mo., StorageMart is privately owned and operated by the Burnam Family, which has been in the storage industry for three generations. Its portfolio consists of more than 12 million square feet of storage. It serves more than 75,000 self-storage customers, and operates in Chinese, English, Punjabi, Quebecois French and Spanish.

Source:
PR Newswire, StorageMart Expands With Self-Storage Facility in Virginia Beach, VA
PR Newswire, StorageMart Celebrates the Opening of Its 200th Self Storage Location

 

XtraSpace Self Storage, which operates more than 20 storage facilities in South Africa, has agreed to help clean up a decommissioned electrical sub-station in Durban, South Africa, that has become a haven for heroin addicts. The company is working with local nonprofit Umbilo Business Forum (UBF) to salvage the property, which is owned by the eThekwini municipality, according to the source.

XtraSpace operates three facilities in Durban, including two on Khuzimpi Shezi Road where the sub-station is located. “We have been here for three years and have invested money in developing our properties,” CEO Colleen Mansour told the source. “A new fence is going up [at the sub-station site]. We will clean up the premises. The safety of our staff and customers is very important. We can’t have a derelict property bringing down the area.”

The local heroin problem has prevented other businesses from developing in the area, according to UBF spokesperson Ian Campbell-Gillies. The former sub-station is “littered with dirt and human feces,” the source reported.

“We fear that if there is a mass exodus of businesses here, the area could deteriorate rapidly,” Campbell-Gillies said. “We want to include a satellite police station and a base where these addicts can be helped. We will offer them jobs and address their sanitation problem.”

Though UBF and XtraSpace have permission from the municipality to perform the cleanup, local officials are keen to hold on to the property for its own potential use. “They were granted a permit to adopt the area and utilize it conditionally,” Tozi Mthethwa, a spokesperson for eThekwini, told the source. “A lease agreement was not signed, and if the city needs the property, notice will be given to the Umbilo Business Forum and XtraSpace. The city is not aware of plans to utilize the area as a training facility for drug addicts.”

XtraSpace operates 21 self-storage facilities in the South African provinces of Gauteng, KwaZulu-Natal and Western Cape. In addition to traditional self-storage space, the company’s locations offer business centers with flexible offices for small and mid-sized companies. The company also offers domestic and international courier services. It launched its SpaceBox valet-storage service in 2015.

Source:
Daily News, Drive to Help Addicts at Sub-Station

A joint venture between self-storage operator Advantage Storage and investment-management firm Harrison Street Real Estate Capital (HSRE) has acquired a two-property portfolio from Wasatch Storage Partners and a private real estate fund advised by Crow Holdings Capital - Real Estate. The facilities in Arizona and Colorado comprise 147,521 square feet in 1,425 units, according to a press release issued by from JLL Capital Markets, the commercial real estate and finance firm that helped broker the deal.

The three-story facility at 7910 W. Beardsley Road in Glendale, Ariz., comprises 96,950 square feet in 955 units. The property is visible to more than 120,000 vehicles per day traveling along State Route 101. Average annual household income within a three-mile radius is more than $90,000, the release stated.

The Colorado property at 11645 W. Belleview Ave. in Littleton comprises 50,571 square feet in 470 units. The property includes a three-story building and two single-story structures. There are 80,400 residents living within three miles of the property. Average annual household income for the local market is $98,000, according to the release.

Both properties offer some climate-controlled space, electronic access control, security fencing and video cameras.

Brian Somoza and Steve Mellon led the JLL team on the sale. “New, institutional-level construction, excellent visibility and local barriers to entry made this portfolio an attractive offering,” Somoza said. “Even more so, strong projections for economic and population growth in both the Phoenix and Denver metro areas should result in a sound investment for the new ownership.”

Advantage Storage developed its first facility in Sherman, Texas, in 1996. To date, the company has acquired, developed, managed and sold more than 30 facilities comprising more than 15,000 storage units and 2 million square feet of rentable space. It operates four storage facilities in Arizona, one in Colorado and 22 in Texas. Its management arm is Advantage Self Storage Property Management LLC. The company formed a joint venture with HSRE in 2013 to pursue acquisition and expansion opportunities.

HSRE has extensive interests in “needs-based” real estate, including self-storage. It has more than $12.2 billion in assets under management through commingled funds and public securities products. The commingled funds focus exclusively on the education, healthcare and self-storage segments of the real estate market. Affiliate Harrison Street Securities LLC manages publicly traded real estate securities on behalf of institutional clients and high-net-worth individuals.

Wasatch Storage Partners is a Utah-based real estate investment firm specializing in self-storage acquisitions and development. It was formed in 2015 by Bret Durfee and Scott Wyckoff, chief development officer, who were involved in acquisitions and development efforts at Extra Space Storage Inc., a real estate investment trust. They engaged in more than $1 billion in storage acquisitions and development projects across the country during their time with Extra Space, according to a company press release. WSP now has three storage facilities in operation in Minnesota, New York and Tennessee, with two projects in development, according to its website.

JLL is a full-service global provider of capital solutions for real estate investors and occupiers. The firm completed $170 billion in investment sale and debt and equity transactions globally in 2017. The firm’s Capital Markets team comprises more than 82,000 specialists globally.

Update 3/12/18 – Public Storage has announced its two contest winners. Kaitlynn, a Public Storage staff member in Orange County, Calif., won in the employee category, while a former tenant, James, from Thornville, Ohio, won in the consumer category.

Kaitlynn’s video garnered more than 3,000 views. In it, she rhymed about cleanliness and the convenience customers can expect at Public Storage facilities. “My inspiration came from day-to-day tasks, how the facilities run and what the customers most appreciate,” she said, adding that she writes poetry and can edit videos. “I’m pretty tech-savvy, so I just brainstormed some ideas and put them together.”

The video also includes Kaitlynn’s co-workers, who were happy to participate. “It was a fun activity for us,” said Kaitlynn, a community-college student who plans to use the prize money for school.

The “fan favorite” video also racked up 3,000 views. The entry celebrated how self-storage can help anyone declutter a space. James had previously stored his grandfather’s 1949 Buick in a Public Storage unit near his home. He learned about the contest from a friend, and jumped at the chance to share his storage experience. “I checked the date and realized it was due that night,” he said. “So, I wrote the poem, I had my mom proofread it, and then I filmed it at 10 p.m.”

Although he had a grand plan for the entry, it would’ve taken “a week of time that I didn’t have,” said James, who’s studying business management in college. He plans to use the prize money to purchase more video equipment.

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2/28/18 – Public Storage announced the six finalists of its “Be Our Valentine" video contest.” The videographers took inspiration from beatnik poets and Shakespeare, and even featured a poetic pup to create videos about Public Storage, moving supplies and the joys of clearing out spaces, according to a press release.

The public can view the videos and vote for their favorites on the company’s YouTube channel.

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2/14/18 – Public Storage Inc., a self-storage real estate investment trust (REIT), has launched a “Be Our Valentine” video contest in which employees and the general public can vie to win one of two $2,500 cash prizes. The competition asks contestants to share poems about storing, moving and organizing, according to a press release.

Entries are required to be less than two minutes long and contain original content, including music. They must be uploaded to the “Be Our Valentine Contest” section of the company’s Facebook page or through its mobile-friendly contest page by end of day Feb. 20. Employee and consumer submissions will be judged separately, with the finalists in each category being be posted to the Public Storage YouTube channel on Feb. 26. The videos with the most views by 9 a.m. PST on March 5 will win, the release stated.

Earlier this month, Public Storage announced the two winners of its “Organization Transformation” video contest. Mary Rose, a manager at a company facility in New Hope, Minn., won in the employee category, while a Chapmansboro, Tenn., woman named Lauren (last name not disclosed) won in the “fan” category. Each received a cash prize of $2,500.

Based in Glendale, Calif., Public Storage has interests in 2,358 self-storage facilities in 38 states, with approximately 156 million net rentable square feet. Operating under the Shurgard brand name, the company also has 220 facilities in seven European countries, with approximately 12 million net rentable square feet.

Sources:
Business Wire, Public Storage Launches Be Our Valentine Video Contest
Public Storage, Public Storage Feels the Love in Valentine Video Contest

Update 3/12/18 – WPI has completed the development of its six-story property in Miami. The site was built in a partnership with The Feldman Cos., according to a press release. The finished facility comprises 166,256 square feet of storage space in 1,270 units. Features include climate control, a covered loading area, keypad access, individually alarmed units, video cameras, and a retail store that sells moving and packing supplies.

It’s WPI’s sixth facility in the Miami area and the second it has opened in the region this year. WPI and Feldman also completed construction on a property at 1396 N.E. 125th St. in North Miami, Fla., in January. The location comprises 147,027 square feet in 1,200 units.

“Miami continues to experience population and corporate growth, with both looking for a mild climate year-round where they can live, work and play,” said Charles Byerly, CEO and president of WPI. “With vibrant demand, US Storage Centers will continue to look to grow in the region.”

The Feldman Cos. is a privately owned real estate development, construction-management and investment company. It has completed more than 1 million square feet of ground-up development and has 600,000 square feet in various stages of entitlement and construction, the release stated.

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8/17/2016 –  CRP/Westport Self Storage 87th Ave LLC, a joint venture between investment firm The Carlyle Group and self-storage operator Westport Properties Inc. (WPI), has acquired a 21,786-square-foot industrial building in Kendall, Fla., that it intends to replace with self-storage. Purchased for $4 million, the property will house a six-story U.S. Storage Centers facility comprising 169,712 square feet, according to the source.

Miami-Dade County has already approved plans for the project, which will be built on a 43,259-square-foot lot at 13301 S.W. 87th Ave. The property was purchased from Wildlands Holdings LLC, which acquired it in 1983 for $1.3 million.

The facility will be near an open-air mall called The Falls, with signage likely visible from U.S. 1/South Dixie Highway, the source reported.

WPI and Carlyle Group have another self-storage joint venture in North Miami, Fla. The companies have been among the most active self-storage developers in the region, according to the source.

The Carlyle Group is a global alternative asset manager with $188 billion of assets under management in Africa, Asia, Australia, Europe, the Middle East, North America and South America, according to its website. The company specializes in aerospace, defense and government services, energy, financial services, healthcare, real estate, technology and business services, telecommunications, transportation, and other industries.

Founded in 1985 and based in Irvine, Calif., WPI is a real estate investment company that acquires, develops and operates self-storage facilities as well as provides third-party management services under the U.S. Storage Centers brand name. Its portfolio comprises more than 7 million rentable square feet in 13 states. It's affiliated with Westport Memphis Self Storage LLC.

Source:
South Florida Business Journal, This Industrial Building Could Be Torn Down, Redeveloped

The Internet has been around for quite a while. Many young people were born into today’s interconnected world and can’t imagine life without it.

For decades, the Internet has been centered around people. All the data, blog posts, YouTube videos and images you view online were created and uploaded by people for other people to consume. The Internet connects people to information. The Internet of Things (IoT), on the other hand, connects things to other things. Read on to learn what IoT is, how it works and how it’s changing the self-storage industry.

What Is It?

The IoT allows things to share their data with other things. It works like this: You take something that’s not connected to the Internet, such as a washing machine; add the ability for it to sense its environment and communicate data over a network; and voila! It’s now a “smart” device, connected to IoT via cloud technology. From there, the options are nearly endless. The washing machine can sense how long it’s been since clothes were washed, where the clothes are at in the cycle, what type of items are being washed and more, and then send the information to users via an app or other smart device.

Because IoT is made up of items that sense, connect with other things and exchange data, it can connect almost everything—from your car to your thermostat, your refrigerator to your fitness tracker, your sleep-tracking app to your fish tank. For example, a smart thermostat knows whether people are in a building, your work schedule, the time of year, day of the week and more. It then communicates on a network so users can control it from their smartphone. Smart devices are actively picking up signals, listening for incoming signals and exchanging data.

Your smartphone is where many IoT exchanges happen. It also has tons of sensory ability. It can tell where you are, if you’re moving, how much light is in the room, how close it is to your face, if you’re talking to it and more. This gives it the ability to not only take data from other things, but to process and send data to other connected devices.

There are many things that were manufactured and built before IoT, but they’ve been upgraded to include sensing and communicating abilities. Take coffee-makers, for example. Now your coffee-maker can be controlled via IoT with an app or other connected device so it knows when to warm up and start making coffee. In fact, the average household now owns 13 Internet-connected devices. It’s predicted that by 2020, the average household will own close to 50.

IoT and Self-Storage

Now that you’re thinking of the Internet-connected devices you already own, imagine if your self-storage property could communicate with you on a network. What if your facility could tell you the temperature in your climate-controlled building, which lights are on, if any unit doors are unlocked, which tenants are onsite, if anyone is using your kiosk and if unwelcome visitors are detected? Pretty cool, right?

All industries have been affected by IoT and self-storage is no different. Smart industry technology exists, with tools that make it easy for operators to remotely monitor things such as unit doors, elevators, gates, lights, thermostats, keypads, security cameras and doors using just a smartphone. They can get real-time insight on the state of their property, and connect to their website, software or apps to receive notifications. Walk the aisles of any major self-storage tradeshow and you’ll find great options for modernizing your property with smart technology.

But smart devices and Internet-connected things aren’t just good for remote monitoring. Even if you don’t want to check in on your property from afar, IoT can provide extremely valuable information. After your property’s Internet-connected things gather data, it can be aggregated and compared with that of other Internet-connected things at your site to produce advanced reports that help you run your business more effectively. Modern self-storage facilities are already using IoT analytics to develop their business models, learn more about their tenants, and boost revenue with small tweaks.

With IoT technology, the possibilities are nearly endless. Self-storage operators can use interconnected devices and software to manage, track and analyze their business effortlessly, from anywhere in the world. Before you tackle your next renovation or technology improvement, consider investing in Internet-connected hardware, unit doors, HVAC and more to modernize. You’ll open up a world of opportunity to advance your business in an interconnected world.

Jana Haecherl is a marketing-content writer for storEDGE, which offers a comprehensive suite of technology solutions designed specifically for the self-storage industry. As a graduate of South Dakota State University with a master’s degree in mass communication, she enjoys bringing technology, Web marketing, and industry news and tips to self-storage owners and managers. For more information, call 913.954.4110; visit www.storedge.com. 

When I was growing up, my family had two shovels in the garage. They were sunbaked, dull and rusted, and would give you a splinter if you even looked at them wrong. For years I thought shovels must be the most expensive tools created, for us to be using such dilapidated ones. This misconception burst sometime during my high school years when I discovered I could purchase one for $15!

Did the old shovels in my garage do the job? Yes. Were they the best tools for the job? Not even close.

When it comes to your self-storage business, you don’t want to use rusty shovels. As a facility operator, I constantly seek new ways to solve problems, improve processes and, essentially, perform better in my role. I’d like to share these few ideas to help you save time and streamline your work day.  

Staff Training

Think of the last coaching/training session you participated in at your self-storage business. Now rate that meeting honestly. Was it an in-depth conversation with the potential to improve both parties? Or was it a slimmed-down version because time was short and you were busy?

The irony is what yields the best gains rarely gets the most effort. Staff training is a serious responsibility, but it often doesn’t get the time and attention it deserves.  Employee development can produce great rewards in the long run, but how much does your company invest in training? The desire to do more may be there, but distance and other responsibilities are often perceived as barriers.

Actually, there’s an easy way for you to share and gain knowledge that doesn’t require hours of classroom training. I’ve recently fallen back in love with the vast information found in podcasts. At your fingertips are the greatest experts in human behavior providing lessons in delegation, leadership, culture, time management, motivation and training. Most recordings are available via smartphone, and it’s relatively easy to make time during the day to listen, whether it’s on the ride to work, or while sweeping the hallways or pulling weeds.

One podcast I recommend is “Coaching for Leaders” by Dave Stachowiak. He has an amazing wealth of knowledge, and he interviews great leaders on a variety of topics. One of his audios helped a friend of mine who was struggling with employee accountability. In the recording, Stachowiak interviewed author Jonathon Raymond, who offered a five-step method for holding people accountable. The method was easy and immediately helped my friend become a more effective leader.

There’s a ton of podcasts available. Look for some on customer service, sales or marketing, and share them with your staff or co-workers. Listen, and then discuss them to see what ideas you can implement to improve your storage business.

Google Tools

Love it or hate it, Google is the 800-pound gorilla in the room, and we have to get used to it. While we’re feeding this gorilla our advertising budget, we might as well take advantage of the tools it offers!

Tired of paying for Microsoft Office every time you buy a new computer? Try Google Docs instead. You’ll have access to Google’s version of Excel, Word and PowerPoint. Inside each program is a dynamic set of add-ons to for a better experience.

Google Docs gives you the ability to collaborate and share documents as a team. For example, if I’m working on a file, I can give permission to another employee to view and edit. The changes are instantaneous, and there’s no need to send the document back and forth via e-mail.

Google Keep is an organization tool that can be visually compared to a computer screen full of sticky notes. It’s a great collaborative tool. For example, if I’m working on a project with a facility manager, I’ll share a note with him to keep track of what’s complete and what still needs to be done. It’s a simple, easy way to keep people, projects and tasks organized in a single place. It can be downloaded as a phone app.

The next great tool is Google Voice. Let’s say you need to contact a delinquent customer and the usual methods aren’t working. You’d like to send him a text, but not from your personal phone number. Google Voice gives you a free number from which to make calls or send texts. You can download the app to your phone or use it under apps in Google Chrome. (If you choose the latter, you’ll find a small phone icon in your bookmarks bar.) Just type in the customer’s number and the message, and then press send.

Truck Rentals

Many self-storage facilities provide free use of the company’s moving truck to tenants who are moving into a unit. Potential customers will often call the office to:

• Check truck availability
• Ask questions about using the truck
• Cancel or change a reservation

If you look at all those calls over the course of a year, how much time was spent on them? How much of a disruption are they to your average work day? One way to alleviate this time-sucking task is to offer online reservations. Of course, customers can still call or stop by in person to make reserve the truck if that’s what they prefer; but now they have options, even after office hours.

To accept online reservations, you’ll need to add a calendar to your website, or link to an outside scheduling website. Most calendar systems can be customized to your needs. You can designate hours, collect required forms, even take a credit card deposit. To reduce no-shows, many systems will even send a text reminder to the customer 24 hours in advance, giving him the option to cancel or reschedule. You can promote your truck-reservation option anywhere you communicate with tenants and prospects.

By adding this type of functionality to your operation, you’re not only saving time and energy, you’re creating a better experience for customers. You’re providing another way for them to interact with you. Though the system is relatively inexpensive to implement, it has the potential to provide a large return.

As you can see, there are more ways to dig holes than by using dull, rusty shovels. Look at the processes you’re using and think of better ways to do things. I dare you to try something new!

Rick Beal is the district manager and part owner of Cubes Self Storage in Salt Lake City. His goal is to help a historically slow-changing industry embrace new, innovative ideas. His professional motto is “Storage is a business of inches not miles.” He can be reached at [email protected]. Connect with him on LinkedIn at www.linkedin.com/in/storagerick. 

Update 3/9/18 – Local musician Dave Tree is adding some finishing touches to Norwood Space Center to help create a “hive of creative commerce where tenants, members and guests cross-pollinate in a collaborative culture.” In addition to Planet Self Storage, the completed first phase of the project includes Bay State Energy Reduction, Little Bird Events, Percival Brewing Co. and Puratos USA, according to the source.

The $10 million project will be completed in three phases. It has grown from 12 to 24 buildings on the 18-acre property. Tree, who formerly ran an art gallery, has turned a hallway inside one of the buildings into art-exhibit space and is using a large room to host events for musicians, comedians and other entertainment, the source reported.

“The idea is to make an oasis of art, culture and music here in Norwood,” Tree said. “There are lots of things to do in Norwood; that is why I love it so much. I have lived by the Norwood Space Center my whole life, and now I get to show art and play music here. It is a dream come true.”

Tree is a member of the band See This World, which will hold a CD-release show at the center on March 24.

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4/14/17 – Norwood Space Center, a 300,000-square-foot mixed-use project in Norwood, Mass., will celebrate the completion of its first phase with a “Grand Opening Spring Open House” event April 29-30. The development at 83 Morse St. includes a new, 66,000-square-foot Planet Self Storage facility among a mix of flexible space for events, retail, shared work and warehousing. The 12-building complex is being developed by 83 Morse LLC, a joint venture between real estate developers Cathartes LLC, David DePree and Juliano Enterprises Inc., according to the source.

"Norwood Space Center is designed to attract a new type of business, those creative entrepreneurs and artisans who are looking for a collaborative, non-traditional space that meets the needs of their business," DePree told the source.

The first phase of the project includes Planet Self Storage, which is one of the opening event sponsors, and several businesses including a craft brewery, event company, kitchen and tile showroom, and a model-ship retailer. The complex was a former mill dating back more than 100 years. It was originally home to Bird & Sons roofing business, which expanded to manufacture floor coverings in the early 1900s, the source reported.

The grand-opening event will be held in conjunction with ArtWeek Boston and offer a series of arts and entertainment activities during the weekend, including concerts, exhibits, readings and workshops. It will also showcase the flexible space available for lease. "Our versatility will be on display at the spring open house celebration," DePree said. "We're looking forward to opening our doors to the entire community."

As part of the celebration, the new Planet Self Storage facility will feature a gallery of artifacts from the David Bieber Archives, including pop-culture collectibles and rock-music memorabilia. It will also have displays from The Sneaker Museum “designed to elevate sneaker art and culture,” according to the source.

Planet Self Storage operates several facilities in Connecticut, Massachusetts, New Jersey, New York and Pennsylvania.

Sources:
Wicked Local Westwood, Norwood Space Center to Bring More Art, Music to the Area
Broadway World Boston, Norwood Space Center, Hive of Creative Commerce, to Host Open House This Spring

Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, has named David Corak as senior vice president of corporate finance, effective March 8. Most recently a research analyst specializing in the self-storage sector, Corak will focus on capital strategies, according to a press release.

“David has been covering the self-storage industry as a sell-side research analyst for five years and has developed an outstanding reputation in the investment community for his work on our sector,” said Dean Jernigan, CEO and chairman of the board. “David will be a valuable addition to our strong finance group at JCAP.”

Prior to joining Jernigan, Corak was a senior analyst at B. Riley FBR Inc., where he covered the self-storage, single-family, student-housing and net-lease REIT sectors. He also covered self-storage as a senior associate with Stifel, Nicolaus & Co. Corak began his career as a banking analyst for PNC Financial Services Group Inc.

“The addition of David to the team serves as another step forward in the company’s prominent growth strategy,” said John Good, president and chief operating officer. “Over the past year, we have closed approximately $400 million of on-balance sheet investments and acquired from developers their 50.1 percent interests in five newly developed facilities, while maintaining a strong investment pipeline. David has a deep knowledge of and unique perspective on JCAP’s opportunities to enhance shareholder value over the coming months and years.”

Corak holds a bachelor’s degree from Georgetown University, where he double-majored in accounting and finance. He’s also a chartered financial analyst through the CFA Institute.

Jernigan Capital is a commercial real estate finance company that provides financing to private developers, operators and owners of self-storage facilities. It offers financing for acquisition, ground-up construction, major redevelopment or refinancing. The firm intends to be taxed as a real estate investment trust and is externally managed by JCap Advisors LLC.

Source:
BusinessWire, Jernigan Capital Inc. Announces Appointment of New Senior Vice President of Corporate Finance

Update 3/9/18 – Extra Space is now in lease-up for its 1,000-unit self-storage facility, part of the mixed-use project in former Building 42 of the Pabst Brewing complex. The redeveloped structure will be known as “The Forty Two.” The design by Rinka Chung Architecture includes replacing formerly brick walls with glass windows, according to the source.

Progress has also been made in other portions of the development, with completion expected before the end of June. The rooftop bar, with views of downtown, will be called Raise. The office-space area has been reduced to 50,000 square feet and will be known as The Factory. The event venue will be called Okasion. The Craft Haus restaurant is expected to tie all the elements together, the source reported.

An earlier report incorrectly identified the street address. The correct address is 1131 N. 8th St.

Development activity in the area includes two apartment buildings, a film hub, a hotel and a park, according to the source.

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9/19/17 – Highland Development is nearing completion on construction of the Extra Space self-storage facility on the lower level of the former Pabst Brewing complex. It’s expected to comprise about 1,000 units, according to the source. Work also continues to progress on other aspects to the mixed-use project.

Milwaukee Brewing is in the process of replacing original brick walls with glass. The craft-beer facility is scheduled to open before the end of June next year. It’s expected to hire 22 full-time and 25 part-time employees, the source reported. The company held a groundbreaking ceremony in July.

Pabst Brewing closed the entire 14-block corporate campus in 1996. The mixed-use project is being developed in what was known as Building 42, the last structure added to the complex.

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10/20/16 – Highland Development Ventures LLC, a New York-based real estate developer and investment company specializing in self-storage and student-housing conversions, has acquired the lower level of the former Pabst Brewing Co. corporate complex that’s being converted to self-storage and several other uses. The developer acquired the bottom level for $3 million and will convert it to an Extra Space Storage location, according to the source. The facility is expected to open by late spring or early summer.

“The building works great for us,” Adam Hird, managing partner for Highland Development, told the source. “We think it’s a great part of the city to be in. There’s a lot of residential being built and also a lot of activity with the arena.”

Highland Development is building multiple self-storage facilities in the Milwaukee area intended for Extra Space, the source reported. The company also plans to acquire a warehouse in back of a Hobby Lobby building in Franklin, Wis., which it intends to convert to an Extra Space location.

Meanwhile, Milwaukee Brewing has begun renovations on its portion of the complex. It could begin brewing onsite next fall. The adjacent event space is expected to be called The Alley and will be run by a third-party operator, the source reported.

Lurie intends to begin work on up to 65,000 square feet of office space early next year. Plans under consideration for the roof include a golf driving range, he told the source.

Based in Valhalla, N.Y., Highland Development has interests throughout Canada and the United States. Its primary focus is the adaptive reuse of older buildings and small urban sites, specializing in self-storage and student-housing projects, according to the company website.

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8/12/16 – SSL, a real estate investment group led by local investor Scott Lurie, has acquired the former Pabst Brewing Co. corporate complex near downtown Milwaukee, with the intent to build a mixed-use development featuring a craft brewery, offices and self-storage. The 170,000-square-foot building at 1311 N. 8th St. will offer 85,000 square feet of self-storage on the ground floor and up to 45,000 square feet of office space on the upper level. Work on the storage and office space is expected to begin next week, with completion planned for next summer.

Milwaukee Brewing Co. is the first to lease a portion of the project—58,000 square feet—and will initially use the building as a warehouse, including cold storage. The brewer will eventually expand some of its operation to the site and lease the 2-acre roof, according to sources. Its long-term plan includes facility tours, a restaurant and tasting room. The expansive rooftop overlooks what will be Milwaukee’s arena district and will feature a pavilion with a bar serving local beers, with outdoor seating and event space. “There’s so much space, we’re going to have bocce ball courts,” brewery founder and CEO Jim McCabe told a source.

The craft brewer doesn’t intend to replace its current 15,000-square-foot brewery, but the new complex will eventually enable the company to produce up to 70,000 barrels of beer each year, a source reported. The brewer is on pace to produce more than 13,000 barrels this year.

Lurie told a source he has some prospective tenants for the other spaces but didn’t reveal their names.

New Source:
Urban Milwaukee, Milwaukee Brewing Rises in Pabst Footprint

Previous Sources:
Milwaukee Business Journal, Brewery Building Sold in Milwaukee for MKE Brewing, Offices and Self Storage
Milwaukee Business Journal, Pabst Warehouse Conversion into Brewery, Offices, Event Space to Start in Early Spring
Milwaukee Journal Sentinel, Milwaukee Brewing Leases Ex-Pabst Warehouse
Urban Milwaukee, New Downtown Brewery