Inland Real Estate Investment Corporation and Devon Self Storage have completed the construction of a 59,837-square-foot Class-A self-storage facility located in Springfield, Massachusetts. Located at 2155 East Columbus Avenue near a major downtown thoroughfare and the I-91 overpass along the Connecticut River, the property previously served as a historic factory building. The redeveloped facility is comprised of three interconnected buildings encompassing 601 climate-controlled self-storage units, drive-thru unit capability and a 24-hour security system. “Considered a top underserved market for self-storage in 2024, we are pleased to help close the market’s…
Author: Shinil Krishnan
Self-Storage Market Update – Spring 2025
Recently I had the pleasure of moderating a panel of some of the top players within the self-storage space nationally, from REITs to small operators, developers, a general contractor and several lenders. To start 2025 the operators commented that tenants have become stickier – allowing the implementation of multiple rounds of ECRI’s (Existing Customer Rate Increases), helping increase overall portfolio incomes. While the early leasing season is showing promise it still lags well behind the peak years of 2021-2022 and is slightly below the pre-COVID years but markedly improved over…
A New Self-Storage Facility Opening Soon in Avondale, AZ
Location: Southwest corner of Indian School and Osborn roads, directly south of a neighborhood that includes residents from both Avondale and Litchfield Park. Description: Extra Space Storage is building a new 564-unit storage facility atop a 2.3-acre site that has been undeveloped for nearly 30 years. About 110,000 square feet of the facility will be used for storage space, while another 900 feet will go toward office space. History: The Avondale City Council approved a conditional use permit for the project in 2021 after city staff and the Planning and…
Newburgh Elite Self Storage Project Approved in Newburgh, NY
The Town of Newburgh Planning Board granted conditional approval for the Newburgh Elite Self Storage project at its March 6 meeting. Conditions of approval include addressing technical comments from MHE Engineering regarding storm-water management, signage, driveway reconfiguration, site access, security, and fees recommended by the planning board attorney. The project, located at 7 Paffendorf Drive, is proposed for a 9.2-acre parcel and includes four self-storage buildings totaling approximately 56,700 square feet. The property is owned by CBPS III, LLC. A public hearing on Feb. 6 drew opposition from several Paffendorf…
Great American Self Storage Opens a New Self-Storage Facility in Fort Myers, FL
Great American Self Storage is excited to announce its Fort Myers facility’s ribbon cutting ceremony on Thursday, April 3, 2025, from 3:30 PM to 5:30 PM. The storage company is partnering with the Animal Refuge Center (ARC) to host a pet adoption event during the festivities to celebrate joining the Fort Myers community. “We wanted our grand opening to be more than just about new storage units,” says Cynthia Heisler, Property Manager at Great American Self Storage Fort Myers. “We’re here to be part of this community, and what better…
Developer Submits Altered Plans to Expand Self-Storage Facility in Englewood, CO
The owner of a self-storage facility in Englewood is requesting city approval of plans to expand the business after withdrawing a similar set of plans last month. Joey Madden, president of MSC Englewood LLC and owner of Extra Space Storage located at 360 W. National Road in Englewood — which is in a former K-Mart building — submitted a request earlier this year to expand the storage facility and develop additional retail and public space along West National Road. After the planning commission recommended the denial of Madden’s request, he…
Talonvest Capital and Madison Capital Secure Bridge Loan for Class A Self Storage Facility in North Las Vegas, NV
Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, has successfully arranged an $11,900,000 bridge loan for a state-of-the-art, Class A storage facility in North Las Vegas, NV. The transaction was completed on behalf of longstanding client Madison Capital Group, reinforcing the strength of the strategic partnership. Located at 345 East Ann Road, the facility features 661 climate-controlled units and 60 non-climate units and is professionally managed by Go Store It, Madison Capital’s in-house management company. As part of the business plan, Go Store It aims to…
White Label Storage Attains Google Partner Status
We are thrilled to be recognized as a Google Partner. This achievement is a reflection of our marketing team’s expertise and relentless pursuit of delivering exceptional results for our clients. As a Google Partner, we are even more equipped to help self-storage facilities drive growth, increase occupancy, and maximize their return on investment.” – Liisi Fall, Director of Marketing at White Label Storage White Label Storage, a leader in third-party management for self-storage businesses, has officially earned Google Partner status. This achievement is a significant milestone for the company and…
Recent Self-Storage Transactions: 03.04.2025 – 03.10.2025
This past week’s self-storage transactions highlight sustained momentum, with activity spanning established urban centers and rapidly growing suburban markets. Key deals include an institutional portfolio acquisition in Chicago, suburban expansions in Texas, and a major retail conversion in Irving, reflecting a broader shift towards high-growth, underpenetrated markets. These transactions underscore self-storage’s strong fundamentals, with investors focusing on prime locations, cost-effective operations, and assets with long-term growth potential. Property: Huffman 2100 Storage Location: Huffman, TX Address: 23000 FM 2100, Huffman, Texas Year Built: 2018 (35% of the facility was…
New Rendering Released for Upcoming Self Storage Facility in Hell’s Kitchen, Manhattan – New York City, NY
A new rendering has been released for 609-615 West 46th Street, a forthcoming 14-story SecureSpace self storage facility in Hell’s Kitchen, Manhattan. Designed Mancini Duffy and developed by Insite Real Estate, the 135-foot-tall project will yield 109,658 square feet. The property comprises two interior parcels spanning 9,775 square feet between Eleventh Avenue to the east and the Hudson River Greenway to the west. The main rendering depicts a rectangular structure with copper and black metal paneling surrounding a grid of narrow windows with dark metal spandrels. An upper setback spans…