A former corporate headquarters and bank building on Route 206 may be converted into a self-storage facility. Melillo Equities, of Far Hills, is scheduled to appear before the borough’s Land Use Board on Nov. 20 with a proposal to repurpose and expand the existing 10,090-square-foot, two-story office building at 158 Route 206 into a three-story, 21,545-square-foot self-storage building. The building served as the corporate headquarters for Fedders, once the world’s largest air conditioner company that filed for bankruptcy in 2006, and later as administrative offices of Peapack-Gladstone Bank. Melillo also…
Category: Development News
Newmark Secures $315 Million Loan for Self-Storage Assets Across 24 Markets in 11 US States
Newmark Group (NASDAQ:NMRK), Inc. has facilitated a $315 million refinancing deal for a national portfolio of self-storage facilities, representing a significant transaction within the alternative real estate sector. The loan was arranged by Newmark’s top executives for TPG Angelo Gordon, in partnership with Andover Properties, and was provided by a consortium of lenders including Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS), and 3650 REIT. The refinanced portfolio comprises 43 properties with over 21,300 units, totaling 3.1 million rentable square feet and operating under the Storage King USA brand. These facilities are…
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…
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,…
Rosewood and Diamond Point Partner Breaks Ground on a Self-Storage Facility in Carmel, NY
Rosewood Property Co. and Diamond Point Development have broken ground on an 81,000-square-foot, three-story self-storage facility in Carmel, N.Y. Upon completion in late 2025, it will include 800 climate-controlled units set to be managed by Extra Space Storage. Dallas-based Rosewood is the majority equity partner with Atlanta-based Diamond Point Development leading development of the project in Carmel, which is located about 62 miles north of New York City. Situated at the intersection of U.S. 6 and Baldwin Place Road, it will be Rosewood’s second location in New York’s Hudson Valley.…
U-Haul Opens a New Self-Storage Facility in Olive Branch, MS
U-Haul® announced the opening of its first retail, moving and self-storage center in Olive Branch to better meet the needs of residents in and around DeSoto County. U-Haul Moving & Storage of Olive Branch at 4209 Goodman Road began serving the public on Oct. 18. Store hours are 7 a.m.-7 p.m. Monday-Thursday and Saturday; 7 a.m.-8 p.m. Friday; and 9 a.m.-5 p.m. Sunday. Reserve storage or moving equipment on the U-Haul app or call U-Haul of Olive Branch at (662) 782-2318. The Company’s 14th owned-and-operated store in Mississippi sits on…
Battlefield Storage Opens New Self-Storage Facility in Fort Oglethorpe, GA
Battlefield Storage announces the grand opening of its new self-storage facility, at 115 Lakeshore Dr. in Fort Oglethorpe. The facility offers 644 climate-controlled units, available in a variety of sizes ranging from 5’x5′ to 10’x25′. The facility’s hours of operation are Monday through Friday, 9:30 a.m.-5:30 p.m., and Saturday from 9 a.m.-3 p.m. Gate access is available to tenants from 6 a.m.-10 p.m. daily. Battlefield Storage provides ample, well-lit parking and an office where customers can purchase a selection of retail packing and moving supplies. To celebrate the grand opening,…