Cost Segregation: A Smart Strategy for Renovation Savings

In the self-storage industry, maintaining an attractive and secure facility is crucial to attracting and retaining customers. Today’s consumers seek not only a safe place to store their valuables but also a well-maintained environment that gives them peace of mind. Renovations, such as installing new unit doors, enhance both the appeal and safety of the facility. And when you take advantage of a tax strategy called cost segregation it can significantly offset these expenses. Understanding Cost Segregation Cost segregation is a tax strategy that allows building owners to accelerate depreciation…

Extra Space Storage Opens New Self-Storage Facility in Shelton, CT

A new 100,000-square-foot, class-A self-storage facility recently opened on Bridgeport Avenue in Shelton. Conveniently located at a traffic light on the corner of Bridgeport Avenue and Avalon Drive, the new facility was developed by Kirchhoff, a real estate investment firm based in New York’s Hudson Valley, according to Greater Valley Chamber of Commerce President Bill Purcell. “Kirchhoff operates on a national basis and specializes in self-storage, student housing, multifamily and medical properties,” Purcell said to Patch. “This project is the firm’s first investment in Shelton.” A grand opening celebration and…

Construction Advances on Two Self-Storage Facilities Along Route 13 by Green Lane, PA

Construction on two self-storage warehouses along Route 13 in Bristol Township is progressing. The work began in the spring following approvals by the Bristol Township Council last year. Bristol Pike Storage LLC is developing a four-story self-storage facility spanning 121,392 square feet on a 3.57-acre site at the end of Pacific Avenue, along Route 13 by Green Lane and next to the Pennsylvania Turnpike/I-95. Representatives for the project said last year that the building could host up to 900 units and would offer access with a right-in and right-out driveway…

A New Self Storage, Peshastin Storage, Opens in Peshastin, WA

Navi and Inder Boyal, owners of Wedge Mountain Inn, celebrated the opening of their new self-storage business, Peshastin Storage, with a ribbon-cutting ceremony on Aug. 20. “For the hotel, my mindset is always on tourists and people traveling usually, but [with] the storage units, I feel like it’s going to be more of our local community, which actually makes me really excited that we’re catering to the community,” said Navi Boyal. Opening the storage facility fulfills a longtime entrepreneurial dream for the Boyals, who are first—and second-generation Indian immigrants who…

Go Store It Opens New State-Of-The-Art Facility in Paramount, CA

Go Store It Self Storage, an affiliate of Madison Capital Group, announces the grand opening of its latest state-of-the-art facility in Paramount, California. This new location offers expansive storage solutions and features a striking mural by renowned Mexican-American artist Ms.Yellow, bringing life, color and beauty to the Los Angeles County self-storage site. Go Store It Paramount offers 75,000 square feet of climate-controlled rentable space across 850 units. The variety of units cater to a wide range of storage requirements, providing tenants with reliable and secure solutions. The facility’s state-of-the-art security…

Self Storage Market of the Month: Lowell, MA

StorTrack’s featured market this month is Lowell, MA. Lowell has a steadily growing local economy, driven by a mix of advanced manufacturing, healthcare, education, and technology sectors, with ongoing revitalization efforts boosting small businesses and attracting new investments to the city. How is Lowell 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 Lowell, MA We’ve utilized StorTrack Explorer’s new Polygon…

Hernandez Development Opens New Self-Storage in Carol Stream, IL

Hernandez Development has unveiled a new Class A self-storage facility in Carol Stream, Illinois. The development is set on a 2.71-acre site along North Avenue, bringing much-needed climate-controlled storage solutions to the area. The new facility will feature a modern three-story building along with an additional one-story structure, offering a combined 72,860 net rentable square feet. Designed to meet the diverse storage needs of the community, the facility will house 638 climate-controlled and non-climate-controlled storage units, including 50 premium drive-up units, providing easy access and optimal protection for stored items.…

SecureSpace Announces Opening of New Self-Storage Facility in Honolulu, HI

SecureSpace Self Storage today announced the grand opening of a new self-storage facility, SecureSpace Kapolei, located in and serving the Honolulu suburb of Kapolei on the island of Oahu, Hawaii. The newly-built Class A facility is strategically located on Kapolei Kai Street and offers 105,050 square feet of 100% climate-controlled self-storage space with units ranging from 4’x5′ to 10’x30′. The facility sits near Interstate H 1, the busiest highway in Honolulu, within a three-mile trade area that has a rapidly growing population and a high median income of $116,399. The…

Andover Properties Opens a New Storage King USA Facility in Palm Coast, FL

Andover Properties, a leading real estate investment firm, has announced the opening of a new Storage King USA facility in Palm Coast. The state-of-the-art facility is located at 5622 E. State Road 100. The storage facility has 564 climate-controlled units and 92 non-climate-controlled units. According to a press release, the facility has 105,330 square feet of total space, a 5,400 square-foot canopy-covered drive-thru, 564 climate-controlled units, protecting belongings from extreme conditions, 92 non-climate-controlled units and 38 outdoor parking spaces with power availability for vehicles, boats and RVs. “We are pleased…

Recent Transactions: 8.20.2024 – 8.26.2024

Property: Self-Storage Development Site Location: Boynton Beach, FL Address: 9905 Acme Dairy Road, Boynton Beach, Florida Closing Deal: $6 Million Buyer: Shadowbrook Development, LLC Brokers and Brokerage: Sean Delaney, Jeff Herrmann and Ryan Nee of Marcus & Millichap Acreage: 3.09 acres Square Feet: 130,000 NRSF: 77,475 Unit Count: 575 units plus 42 uncovered parking spaces Highlights: Has space for RV parking, and parcel and MUPD site work Nearby national retailers include Chick-fil-A, Publix, ABC Fine Wine & Spirits, Starbucks and Wawa     Property: Aero Treasure Coast Storage Location: Vero…