Day: August 5, 2024

Featured Brokers: Jeffery A. Gorden, CCIM and Donnie Dodson

Jeff Gorden, CCIM has been a top producing broker since 2003. He has been active in commercial real estate for over a decade with experience in retail, office, industrial, and self-storage properties. Jeff is an advocate for community stewardship serving as the Chairman of the Chandler Board of Adjustment, previously as Chairman of the Chandler Leadership Institute, and as a member of several industry groups such as the National Association of Realtors, CCIM Institute, and currently the President of the Arizona Self Storage Association. Jeff earned degrees from both Temple…

U-Haul Plans 3-Story Self-Storage Facility in Hammond, IN

U-Haul purchased 2.7 acres in May to build a new facility in Hammond. Plans for a three-story building at 6303 Calumet Ave. include 676 indoor self-storage units. The new U-Box Moving & Storage of Hammond facility is slated for completion in summer of 2026. The current facility, U-Haul Moving & Storage of Hammond at 822 165th St., will continue operations remotely. The new units will be climate-controlled and offer high-tech security. “We are excited to develop land that has long sat empty and add to our current services available in…

Recent Transactions: 7.30.2024 – 8.05.2024

Property: Bear Valley RV Park and Self Storage (managed by Right Move Storage) Location: Hesperia, CA Address: 18435 Bear Valley Rd Hesperia, California Year Built: 1996 Buyer: Merit Hill Capital (Real Estate Investment Firm in Brooklyn, New York) Broker and Brokerage: Brian Somoza of The JLL Capital Markets Self-Storage team of JLL Acreage: 49.6 acres Unit Count: 726 units Occupancy: 87% VPD: 52,500 Vehicles Per Day Highlights: Consists of a mixture of single-story Permanent structure RV parking units Surface parking units Portable storage units Electronic gate access 24-hour video surveillance…

Direct Equity Source Announces Strategic Partnership with AAA Storage to Expand Self-Storage Portfolio across the United States

Direct Equity Source, a leading real estate private equity firm, is pleased to announce a strategic partnership with AAA Storage, an industry-leading self-storage company. Direct Equity Source, via its recently formed fund, will be the largest single investor in AAA Storage’s current multi-property Growth Fund I, and significantly expand its self-storage portfolio across the United States. This partnership combines Direct Equity Source’s extensive experience in real estate private equity and financial acumen with AAA Storage’s operational expertise and industry-leading storage solutions. Direct Equity Source’s investment will expand AAA’s ability to…

U-Haul Repurposes Abandoned Retail Lot for New Self-Storage in Warren, OH

U-Haul is now serving customers at 3394 Elm Road NE in Warren, site of the former Chase bank and Tops Friendly Market grocery store locations. The 7.8-acre property was purchased on July 30. U-Haul Moving & Storage of Warren North is currently serving customers out of a temporary retail showroom and is scheduled to complete renovations by the summer of 2025. Services available immediately include moving truck rentals, trailers, towing devices, boxes and moving supplies, and more. Download the U-Haul app for reservations or contact U-Haul of Warren North at…

California Developer Adding Self-Storage at Gateway Town Center in Jacksonville, FL

Gateway Town Center in the Brentwood area is in line for redevelopment as the California investor that bought about 10.7 acres there intends to add retail stores, self-storage and affordable housing. “It will be a full mixed-use project and I think it will be a nice fit for what is already there,” Global Building LLC President Joseph Zummo said July 30. There are no renderings, he said, and did not estimate a total investment. “We are still trying to look at all of the different possibilities and come up with…