Day: August 15, 2022

IWC Approves Commerce Road Self Storage Facility in Newtown, CT

Newtown Inland Wetlands Commission (IWC) voted on a proposed self storage facility during its meeting at Newtown Municipal Center on July 27. IW Application #21‐16 by 19 Commerce Road, LLC, is for a property located at 19 Commerce Road, to construct a self-storage facility with five buildings and 37,000+ square feet of regulated activity including grading, filling and construction. At the IWC’s previous meetings, on July 13 and June 22, the applicant’s representative was Engineer Larry Edwards, of J. Edwards & Associates LLC. He presented plans to the commission for…

Bonus Depreciation Benefits Are Being Reduced: What Does This Mean for Self Storage Owners and How Can You Take Advantage Before It’s Too Late?

Janus International Group, Inc. (NYSE: JBI) (“Janus”), the leading global manufacturer and supplier of turn-key building solutions and new access control technologies for the self storage and other commercial and industrial sectors, today announced that bonus depreciation benefits are being reduced, what that means for self storage owners and how they can take advantage of it before it’s too late. While to some in the self storage industry, cost segregation studies may seem like a bourgeoning concept, the truth is, owners have been taking advantage of the significant tax benefits…

Recent Transactions: 8.9.2022 – 8.15.2022

Property: U-Haul Closing Price: $18 Million Location: East Wenatchee, WA Broker and Brokerage: Christopher Secreto of Marcus & Millichap Property: KO Storage Closing Price: $4.39 Million Location: Rochester, MN Buyer: Storage Rentals of America Seller: KO Storage NRSF: 52,500 Unit Count: 332 Property: KO Storage Closing Price: $2.1 Million Location: Austin, TX Buyer: Storage Rentals of America Seller: KO Storage Property: U-Stor-It Location: Crete, IL Brokers and Brokerage: Jeffrey L. Herrmann and Sean M. Delaney of Marcus & Millichap NRSF: 30,860 Room for Expansion: Yes, 34,000 NRSF Occupancy: 91% Property:…