Author: Shinil Krishnan

Market of the Month: Redmond, WA

StorTrack’s featured market this month is Redmond, WA. Redmond is located 15 miles east of Seattle. The city prides itself on its high quality of life with 57 schools, a healthy economic base, and an emphasis on quality development and protection of the natural environment. How is Redmond as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment. Self Storage Market Metrics for Redmond, WA Current Supply: There…

Big Cypress Capital, an SB360 Affiliate, 4 Rivers Property Group, Declaration Partners Form JV to Develop Self-Storage Facilities Throughout Southeastern US

Big Cypress Capital, an SB360 Capital Partners affiliate, along with 4 Rivers Property Group and Declaration Partners (the “Partnership”), announced the formation of a joint venture to develop ground-up Class A self-storage facilities in high-growth markets throughout the Southeastern US. In announcing the joint venture, the Partnership also disclosed it completed its first land acquisition in Southwest Florida in 2Q 2023. Development on the high-traffic site located on US 41 in Sarasota will commence by early 2024 and deliver approximately 12 months later. The Partnership will engage with best-in-class third-party…

Four-Story Self-Storage Facility Proposed in Sayreville, NJ

A four-story self-storage facility is proposed for Jernee Mill Road. Lot 15 Jernee Mill, LLC, of Brooklyn, New York, is seeking preliminary and final major site plan approval to construct the facility at 18 Jernee Mill Road. The 14.2-acre site is located in the Special Economic Development Zone and is undeveloped, according to public documents. The new building would have a 33,250-square-foot footprint for a total of 133,000 square feet. There are 27 parking spaces proposed. The applicant is requesting variance relief for two 100-square-foot façade signs, where the ordinance…

Five Points Shopping Center sold for $3 Million – The Site planned For a Self Storage in Fairborn, OH

A Fairborn shopping center largely vacant since losing a Kmart several years ago has been sold for $3 million, Greene County records show. The 9.5-acre Fairborn Five Points Shopping Center, the site of a planned 600-unit indoor self-storage facility, has been bought by Cobblestone Capital of Bowling Green, Ky., according to the county auditor’s office. Cobblestone Capital purchased the site at 224 E. Dayton Yellow Springs Road last month from Gator Five Points Partners, which bought it for $2.1 million in 2007, according to county records. The site is at…

Featured Broker: Adam Schlosser

Adam Schlosser leads a team of highly qualified professionals focused on the sale, acquisition, financing, research, and advisory services of self-storage assets throughout the United States. In a little over a decade, Mr. Schlosser has been directly involved in the successful completion of over 300 self-storage transactions, totaling over four billion in dollar volume. Mr. Schlosser believes a legacy of building strong client relationships and a career dedicated to a specialized niche are the cornerstones to success allowing him and his team to deliver unmatched advisory services. Through helping his…

One Stop Self Storage Expands its Reach to a New Convenient Location in Chicago, IL

One Stop Self Storage is excited to announce the grand opening of its newest facility at 1750 N Lawndale Ave, Chicago. With this expansion, One Stop Self Storage aims to meet the increasing demand for storage solutions in the vibrant city of Chicago. Located in the heart of Chicago, this new facility offers a wide range of storage options to cater to the diverse needs of the local community. Whether it’s decluttering, storing belongings during a move, or finding a secure place for extra inventory or business supplies, One Stop…

My Attic Self Storage Expands to a New Location in Toccoa, GA

My Attic Self Storage is pleased to announce the opening of its newest facility at 368 S Pond St, Toccoa, GA 30577. This expansion marks another milestone in providing reliable storage solutions to the residents and businesses of Toccoa and the surrounding areas. The newly established MyAttic Self Storage location in Toccoa offers a wide selection of storage unit sizes to accommodate various storage needs. Whether it’s for personal belongings, household items, or business inventory, the facility aims to provide convenient and accessible storage options for all customers. Located at…

Real Estate Investment Trust Hartman SPE is Converting into a Self-Storage Firm in Dallas, TX

A Houston-based investor that owns multiple Dallas-area office and retail properties has sought bankruptcy protection for its assets with more than $200 million in debt. Hartman SPE LLC has been selling off its office and retail properties to refocus the company on self-storage investments. In the Dallas area, the Hartman real estate investment trust owned 10 office buildings and three shopping centers at the start of 2023. Some of its high-profile holdings include the North Central Plaza tower and Gateway Tower on North Central Expressway in North Dallas. The real…

Safeguard Self Storage Planning to Start New Self Storage Construction in Smithtown, NY

Safeguard is very excited to bring our best-in-class self-storage product to the Smithtown community” “We look forward to breaking ground on this exciting new project.” – Stanley Bonilla, senior vice president of development for Safeguard Developers of a new self-storage facility in Smithtown are planning to start construction on the project this fall. Safeguard Self Storage is hoping to break ground in November for the construction of a three-story, 59,000-square-foot facility with 600 units on a 1.33-acre lot at 1036A West Jericho Turnpike. This will be the company’s first location…

Greystone Furnishes $14 Million CMBS Loan For a Self-Storage in Torrance, CA

Greystone has provided a $14,000,000 CMBS loan to refinance an 801-unit self-storage property, SOS Storage Center, in Torrance. The financing was originated by Anthony Cristi, managing director at Greystone. The first mortgage, provided at 59.6% loan-to-value, includes a 10-year term with interest-only payments. The property was originally constructed in 1992 as an office property. The sponsor converted it to a self-storage facility in 2008. It includes 801 self-storage units made up of predominantly standard and climate-controlled units, and also features vault storage and wine storage units, across a total of…