StorSafe Redefines What Third-Party Management Can Mean for Self-Storage Facilities

In a bold move that sets a new benchmark in the self-storage sector, StorSafe Self Storage, a leader in the industry with 27 locations across the Midwest and Southeast, is proud to announce its strategic expansion into third-party management. This initiative is set to leverage StorSafe’s extensive operational expertise, cutting-edge technology, and unparalleled customer-centric approach. Tom Bretz, CEO of StorSafe, emphasizes the transformative nature of this expansion, “Our new division represents a significant leap beyond traditional storage services. We are bringing together operational efficiency, innovative technology and dedicated customer service…

New Self-Storage Facility Under Construction on Wiles Road in Coconut Creek, FL

A new self-storage facility is under construction near Monarch High School in Coconut Creek. The four-story, roughly 89,000-square-foot building will go up at 5479 Wiles Road, according to Scott Stoudenmire, sustainability director for Coconut Creek. The Self-Storage at Solaire is one of two new storage facilities approved in Coconut Creek. Last year, the city approved the other self-storage facility, Sentry with 120,164-square-foot, as part of a new development with a new grocery store (Sprouts Farmers Market) and a drive-through coffee shop (Cali Coffee) in the southwest corner of Coconut Creek…

1784 Holdings Lands $53 Million for Self Storage Development in Bethesda, MD

Talonvest Capital Inc. has secured a $53 million construction loan on behalf of 1784 Holdings LLC, for the development of a Class A self-storage facility in Bethesda, Maryland. According to Montgomery County records, the loan retires previous debt. The unpaid outstanding principal on the original mortgage refinanced was $20 million. The Ardent Cos. provided the financing. The note has a maturity date set for 2026, includes two extension options, full-term interest-only payments, an earnout funding upon receipt of the full certificate of occupancy and no lease-up covenants. The Talonvest Capital…

Go Store It Opens Self-Storage Facility in Monterey Park, CA

Go Store It, an affiliate of Madison Capital Group, has entered the California market with the opening of a 70,000-square-foot self storage facility in Monterey Park, California. The project broke ground in November 2022. The property was subject to a $14 million construction loan, originated by Farmers and Merchants Bank of Long Beach. The newly constructed facility is a three-story building that offers 802 climate-controlled units, ranging between 25 and 300 square feet. Amenities include video surveillance, moving supplies, dolly and flatbed carts, roll-up doors, elevator access, security lighting and…

U-Haul Opens a New Self Storage facility in Apache Junction, AZ

U-Haul has opened a new, 117,154-square-foot retail and self-storage facility in Apache Junction, Ariz. Development began in 2018. The three-story building offers 900 non-climate- and climate-controlled units, ranging between 25 and 200 square feet. The property also includes 144 covered RV spots with electric hookups and a warehouse that can store more than 650 portable moving containers. Amenities include 24-hour video surveillance, elevator access, moving supplies, towing equipment, individually alarmed rooms, drive-up and gated access and on-site manager. The facility is at 3395 S. Idaho Road, has access to U.S.…

Cook Properties Opens New Self Storage Facility in Spencerport, NY

Cook Properties, a family-owned real estate development and management firm headquartered in Rochester, has opened a new self-storage facility in Spencerport. Village Woods Storage is a 20,760-square-foot space featuring 177 climate-controlled units. The facility is located on the lower level of Village Woods, an office and retail plaza at 42 Nichols St. Units range in size from 5-by-10 feet to 10-by-23 feet, with a limited number of 9-by-20 and 10-by-20 units that feature drive-up access to accommodate a vehicle or boat. The location was chosen because of residential and commercial…

Mitra Investment Partners Secures $36 Million for Inaugural Fund Targeting Self-Storage and Industrial-Flex Real Estate

Mitra Investment Partners (“Mitra”), an emerging private real estate investment manager, proudly announces the successful closing of Mitra Diversified Fund I, raises its inaugural investment fund focused on value-add self-storage and industrial flex real estate across the country. Fundraising Success: Mitra significantly surpasses its initial target of $25 million underscored by a total fundraising of $36 million in just 9 months. Deployment Momentum: Mitra is outpacing their deployment schedule for the fund, having successfully executed 10 acquisitions across 7 states, totaling 356,000 net rentable square feet, constructing a diversified portfolio…

SecureSpace Announces Opening of New Self-Storage Facility in Philadelphia, PA

SecureSpace Self Storage today announced the grand opening of a new self-storage facility, SecureSpace Philadelphia Grays Ferry, located in and serving the city of Philadelphia, PA. The newly-built Class A facility is strategically located at 3114 Grays Ferry Avenue and offers 104,992 square feet of 100% climate-controlled self-storage space with units ranging from 2’x5’ to 11’x25’. The facility offers badly needed supply to nearby dense residential neighborhoods, with a three-mile population of 497,000, who currently have less than 2.5 square feet per capita of storage options. The new store is…

Recent Transactions: 1.23.2024 – 1.29.2024

Property: Shelbyville Storage Location: Shelbyville, IN Address:450 Industrial Park Dr, Shelbyville, IN 46176 Year Built: 1990 Brokers and Brokerage: Frank DeSalvo and David Perlleshi of Franklin Street NRSF: 17,200 Unit Count: 110 Seller Testimonial: “Frank and Dave have sold 6 self storage facilities for us so far and for prices that we’d have not thought possible when we bought them. I highly recommend them to anyone wanting to sell a storage deal on the open market. They can broker your deal in just about any state.”     Property: First…