Author: Shinil Krishnan

Wind-Load Rated Doors Help Coastal Facilities Weather Hurricane Season

When it comes to selecting your facility’s roll-up doors, accounting for wind pressure based on geographic location is important. How wind resistant your roll-up doors need to be will depend on your geographic location, as many locations have specific codes requiring their doors to withstand a minimum amount of pressure. Coastal properties are far too familiar with preparing for hurricanes and tropical depressions. As a result, states in coastal regions tend to have more stringent requirements. When strong enough, storm winds can generate major uplift indicating a significant increase in…

Huge New Storage Facility Gets Closer to Completion in Toms River, New Jersey

  If you have been driving down Route 37 in Toms River you have seen several new construction projects. One of which is rather large and will be the future home of “Public Storage” a new storage facility under construction in Toms River. According to their website “Since opening our first self-storage facility in 1972, we’ve grown to become the largest owner and operator of self-storage facilities in the world. With thousands of locations across the U.S. and Europe, and more than 170 million net rentable square feet of real…

StorageMart Expands Idaho Presence with the Addition of Two Managed Facilities in Caldwell

International self-storage company adds more than 131,000 square feet of storage to Idaho footprint. StorageMart, the largest privately-owned self-storage company, announced its latest expansion into Caldwell, Idaho. The two storage facilities provide a combined net rentable square footage of 131,686 and an impressive 826 storage units, which include standard storage, drive-up storage, and vehicle parking options. “We are thrilled to announce the grand opening of third-party managed locations in Caldwell,” said Adam Steckler, President of truStorage, the company’s third-party property management operation. “This expansion reflects our dedication to providing top-notch…

MV Investment Breaks Ground on Second Self Storage Facility in Fayetteville

MV Investment has broken ground on its second self storage development in Fayetteville, North Carolina. Construction began in June on a Class A climate-controlled self-storage (CCSS) facility at 4247 Ramsey Street. The 107,000-gross-square-foot facility will house 800 units ranging in size from 5 x 5 to 10 x 30. Located on a high-traffic artery close to Fort Bragg, the development offers a foothold in what is considered by MV Investments to be a” high-growth corridor” that is experiencing a boom in housing construction. The two-acre site sits between a Wal-Mart…

After Raising $230 Million, SROA Capital to Expand Loan Program for Self Storage

SROA Capital is hoping to fill some of the lending void as cautious banks pull back from self-storage and other loan deals across the country. In early June, SROA Capital, the private-equity owner and operator of nearly 400 self-storage facilities in the U.S., announced it had completed the first closing of its ninth flagship fund, securing $230 million of capital commitments for its target of $750 million for SROA Capital Fund IX. The West Palm Beach, Florida-based firm also announced that it planned to expand its bridge financing program, with…

Metro Storage LLC Opens New Store in Wall Township, New Jersey

    Metro Storage LLC announced the opening of its newest store in Wall New Jersey. Located at 2274 Route 34 in Wall Township, the new, three-story 81,400 GSF state-of-the-art facility offers 59,245 RSF of climate-controlled storage. It is the 10th Metro Self Storage store in New Jersey. “New Jersey is an exciting market with lots of opportunity through the population density, and this new facility is a valuable addition to our portfolio,” said Metro Storage LLC President Martin Gallagher. “Metro is well established in this market with an operational…

Talonvest Arranges $14.1 Million Construction Loan for CA Development

The site is uniquely positioned adjacent to two recently delivered RV/Boat storage facilities and, upon completion, will consist of 373 climate-controlled units and 461 drive-up units totaling 114,752 NRSF.” Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, along with their client, Madison Capital, is pleased to announce the successful closing of a $14.1 million loan for the construction of a single-story class A, self storage development located at the Southeast Corner of Wabash Ave and Naples Ave in Redlands, CA. The site is uniquely positioned…

Ivanhoé Cambridge Makes First Investment in Self Storage Alongside Strategic Partners

Ivanhoé Cambridge alongside another global institutional investor and Safely Store will be investing an initial US$400 million in equity to be deployed nationally over the next few years, with the potential to scale up further over time.” Ivanhoé Cambridge, a global real estate industry leader, is pleased to announce its new strategic partnership with Safely Store Self Storage (“Safely Store”), targeting the self storage sector in the United States, marking its first entry into this alternative industrial asset class. Safely Store is a self storage dedicated investment platform formed by…

Recent Transactions: 6.27.2023 – 7.04.2023

Portfolio: Storage Zone Portfolio (5 Property Portfolio) Location: Lubbock, TX Brokers and Brokerage: John Owens of KW Commercial Investment Advisors NRSF: 306,084 (room for expansion) Unit Count: 1,772 units   Portfolio: Self Storage Portfolio (11 Properties) Location: Green Bay, WI Closing Deal: $34.2M Buyer: Rogers businessmen Patrick Byrd and Alex Baumeister Seller: Lok Safe Storage Brokers and Brokerage: Butch Gurganus of Focus Commercial Real Estate represented the buyers in the transaction and Sean Delaney of Marcus & Millichap closed the sale Square Feet: 475,141 (Combined) Occupancy: 98%   Property: Valor…

West Glendale Parcel Targeted for Apartment Complex, Self Storage Facility

A new apartment complex and a self-storage facility look to be coming to a spot on the west side of Glendale. The city council at its Tuesday voting session will consider adopting an ordinance to approve a rezoning application for a 24-acre project titled 101 & Northern Avenue (Thompson Thrift Storage) at the southeast corner of Northern and 99th avenues. The planned area development narrative calls for an apartment complex consisting of three buildings totaling 234 units on 11 acres. The other portion of the parcel is targeted for a…