Author: Alison DeJaeger

Development Approved in Peoria, AZ

The Peoria, Arizona Planning and Zoning Commission approved a conditional-use permit request from RKAA Architects Inc. to allow the development of a self storage facility on 5.6 acres near the northwest corner of 75th Avenue and Cactus Road. The project will comprise about 79,700 square feet of interior self storage, along with 60 outdoor boat/RV-storage spaces, of which 35 will be covered. The site is zoned as intermediate commercial and has been used to farm alfalfa for several years. Founded in 1976, RKAA is a full-service design firm that specializes…

Featured Broker: Steve Mellon

Steve Mellon is a managing director in the Houston office of JLL Capital Markets, Americas, and is the leader of the firm’s national self storage group. He specializes in acquisitions and dispositions in the self storage asset class and has been involved in $3.0 billion in property sales and structured financing/equity placement. His experience also includes performing valuation and value enhancement consulting assignments to help clients identify and boost their property values. Additional assignments include unit mix analysis, demographic and market analysis and inspection and lock checks. Prior to joining…

RaceTrac Sells Buck Business Park Land for Self Storage

RaceTrac Petroleum Inc. will not be developing a gas station and convenience store in Buck Business Park in Arlington after all. It sold the land June 9 to a self storage project developer for $1.43 million. Atlanta-based RaceTrac paid $1.25 million in December 2018 for 3 acres at the split of Merrill and Fort Caroline roads, east of Interstate 295 and the Southside Connector. RaceTrac wanted to develop a 5,411-square-foot gas station and convenience store. It already operates a 4,861-square-foot location developed in 2011 on almost 4 acres at 8240…

Storage Unit Business Approved for Old Virginia College Location on Eisenhower Pkwy.

Macon-Bibb Planning and Zoning has approved a new business for Eisenhower Parkway. P&Z documents show that the two-story storage unit business will take over the property where Virginia College formerly operated. The business would have two entry points — one from Paul Walsh Drive and one from South Heron Street — as well as security gates in the back. The plans show that there will be 850 self storage units. The facility would be open seven days each week from 6 a.m. to 10 p.m. Office hours would be Monday…

West Coast Self-Storage Opens in Hillsboro, Oregon

West Coast Self-Storage today announced the opening of their newest storage facility in Hillsboro, Oregon. The business is named West Coast Self-Storage Hillsboro and is located at 2650 SE Imlay Ave, near the corner of SE Imlay Ave. and OR-8 (SW Tualatin Valley Hwy.) The self storage property is being built in two phases. Phase one has been built and features 345 storage units totaling 33,584 sq. ft. of rentable space. The bulk of the units are interior access with a handful of drive-up access units, ranging in size from…

SROA Expands Self Storage Portfolio with 26-Facility Deal

SROA Capital LLC has scooped up an additional 26 self storage facilities, bringing the Florida-based investment firm’s portfolio to more than 200 storage properties spread out mostly in secondary and tertiary markets east of the Mississippi River. SROA Capital operates self storage facilities under the Storage Rentals of America brand name. Acquiring StayLock Storage SROA Capital announced last week that it has purchased StayLock Storage for an undisclosed sum from two private investment firms based in St. Louis—Cequel III and Thompson Street Capital Partners. In the same announcement, SROA Capital…

Recent Closings: 8.10.2021 – 8.16.2021

Property: Former Macy’s Conversion Location: Canton, OH Brokers and Brokerage: Thomas K. Gustafson and Matt Davis of Colliers NRSF: 100,000+ Units: 950+ Highlights: Adjacent to High-Performing Super Walmart (Built 2005) 100% Climate Control (Planned) NOKĒ Smart Entry System (Planned – All Units) Two Floors | Both with Ground Level Access High Traffic Retail Corridor Location No Climate Control Competition within Over Three Miles Property: Mini Storage Depot Location: Fort Wayne, IN Brokers and Brokerage: Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 45,200 Units:…

Andover Properties Closes on “Extra Space Storage (Managed)” in Phoenix, AZ

Andover Properties, LLC (dba Storage King USA) has recently acquired Extra Space Storage (Managed) in Phoenix, AZ, marking its fourth acquisition in the Phoenix MSA and ninth facility in the state. The ~55,000 NRSF and 670-unit facility consists of predominantly drive-up units, in addition to interior climate and non- climate controlled units and open parking. The facility has great visibility and is located on N 19th Ave, which sees nearly 28,000 vehicles per day. “We are continuing to make great strides expanding our portfolio in the fastest growing county in…

Self Storage Facility Near Washington, D.C. Sells

JLL Capital Markets announced today that it has closed the sale of Oakville Self Storage, a 934-unit self storage facility in the heart of the Oakville Triangle master-planned redevelopment in the Washington, D.C. community of Alexandria, Virginia. JLL worked on behalf of the seller, an institutional investor. Potomac Yard Mini U Storage, LLC, a Delaware Limited Liability Company with Dahn Corporation as general partner, in partnership with Elevation Fund 8, LLC purchased the asset, which is now operating under the Mini U Storage brand. The facility was managed by Self…