Author: Shinil Krishnan

This Closed Tillinghast Gem Will be Replaced by a Self-Storage Facility and a CarMax in New Jersey

CarMax and self-storage facility CubeSmart on Route 36, along with 145 age-restricted single-family homes off Monmouth Road, will replace the links at the Old Orchard Country Club. At an upcoming meeting, the borough Planning Board is set to finalize its approval of a proposal by Surrey Equities LLC to redevelop the 18-hole golf course, a 136-acre plot that was designed by famed architect A.W. Tillinghast and opened in 1929. The project culminates years of efforts to build on the property. More than 15 years ago, a proposal to build 700…

Talonvest Capital Negotiates $18 Million Full Capital Stack for a Self-Storage Development in Nashville, TN

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with its client Wedgewood Avenue are pleased to announce the successful closing of a joint venture equity investment along with construction financing for a best-in-class, institutional quality self-storage development located at 304 Oldham Street in Nashville, TN. Upon completion, the class A development will include 90,032 NRSF within a 3-story facility benefiting from exceptional visibility from major roadways, which average 250,000 vehicles per day, including Interstate-24, Ellington Parkway, and Spring Street. Beau Fowler, Managing Principal at Wedgewood…

Self-Storage Facility Opens with Professional Management in Easley, SC

Local owners of Boxville Storage proudly announce the opening of the self-storage facility at 4510 Calhoun Memorial Highway Easley, SC 29640. This facility, being managed by Absolute Storage Management (Absolute), features 662 units totaling 68,960 rentable square feet. It offers safe and secure non-climate unit options to the local communities of Dacusville, Cedar Rock and Easley. BVS Easley SC, LLC has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services, and the facility is officially under Absolute’s management as of October 28, 2024. Residents and businesses in…

U-Haul Opened its Newest Self-Storage Facility in Hershey, PA

U-Haul® is pleased to announce the opening of Pennsylvania’s newest self-storage center in Hershey after acquiring the property in early 2022. U-Haul Moving & Storage of Hershey at 1000 Old W. Chocolate Ave. opened on Oct. 28. Located off Highway 422, it is about a 20-minute drive from Harrisburg. It is the Company’s first owned-and-operated store in Hershey. The property was previously home to a small business that served as a U-Haul dealer location. The 1.79-acre lot is now home to a state-of-the-art, four-story facility with 1,000 climate-controlled storage units…

JLL Capital Markets Led the Sales Effort for the Self-Storage Portfolio in Philadelphia and West Florida

JLL Capital Markets announced today that it has completed the sale of a six-property self-storage portfolio totalling 468,266 rentable square feet in the Philadelphia MSA and the Tampa, Sarasota and Fort Myers areas of West Florida. JLL’s National Self-Storage team represented the seller, a partnership between Metro Self Storage and Heitman, and procured the buyer, Andover Properties. The properties were operated and managed under the Metro Self Storage brand at the time of sale and will be rebranded to Andover’s Storage King USA brand. The portfolio consists of three properties…

Recent Transactions: 10.29.2024 – 11.04.2024

Portfolio: Six-Property Self-Storage Portfolio Locations: Philadelphia MSA and West Florida (Tampa, Sarasota, Fort Myers) Philadelphia MSA Properties: 1354 Hook Rd., Sharon Hill 3952 N Providence Rd., Newtown Square 4440 E Bristol Rd., Trevose Florida Properties: 3501 Gandy Blvd., Pinellas Park 619 Cattlemen Rd., Sarasota 17625 Tamiami Trail, Fort Myers Seller: Partnership between Metro Self Storage and Heitman Buyer: Andover Properties Brokerage: National Self-Storage team of JLL NRSF: 468,266 Highlights: The properties were operated and managed under the Metro Self Storage brand at the time of sale Will be rebranded to…

Featured Broker: Stuart LaGroue

Stuart P. LaGroue, Sr., has been involved in commercial real estate and specializing in self-storage brokerage since 2004. He is licensed in Alabama, Mississippi, Florida and Louisiana. Stuart served on the Board of the Alabama Self Storage Association (ALSSA) from 2007 – 2012. In 2009, he served as President of ALSSA and for the two years prior to that he served as Treasurer. Stuart is a board member of the Spanish Fort Fire & Rescue Department. He is married to Shelly LaGroue, owner of Shelly B. LaGroue CPA, LLC, a…

Featured Broker: Michael Johnson

Michael is a Principal at Versal, a leading real estate brokerage firm based in Austin, TX. With a career spanning over a decade, he has honed his expertise specifically on the sale and refinancing of self-storage properties across the United States. Since entering the self-storage industry in 2012, Michael has dedicated himself as a trusted advisor for clients looking to navigate their acquisition and disposition strategy. He has successfully completed over 330 real estate transactions ranging from small independent facilities to large portfolios. His deep knowledge of market trends and…

Recent Transactions: 10.22.2024 – 10.28.2024

The recent self-storage transactions across Carbondale, Illinois and Texas markets (Georgetown, Denton, and Conroe) highlight a trend toward acquiring established facilities in rapidly growing areas. Texas, in particular, shows strong investor interest, likely due to its population growth and economic expansion, which bolster demand for self-storage. The properties’ varied features—ranging from climate control and drive-up units to advanced security measures—demonstrate a competitive focus on diverse customer needs and facility functionality, reflecting an emphasis on enhancing service offerings in high-demand markets.   Portfolio: Four-Property Self Storage Portfolio Location: Carbondale, IL Brokers…

West Coast Self-Storage Opens New Location in Santa Rosa, CA

West Coast Self-Storage is excited to announce the opening of its brand-new self-storage facility in Santa Rosa, CA. West Coast Self-Storage Santa Rosa – Piner is located at 970 Piner Road in North Santa Rosa, and features 613 storage units encompassing 46,910 rentable square feet. The facility is designed to cater to a wide variety of storage needs with unit sizes ranging from small lockers to larger spaces, ideal for personal, business, and student storage. The property is equipped with climate-controlled units and advanced security measures, including 24-hour surveillance cameras,…