Seven Hills Realty Trust Closes $23.8 Million Mortgage Loan to Recapitalize a Self-Storage Property in Los Angeles, CA

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $23.8 million first mortgage floating rate loan to recapitalize 2515 S Broadway, a newly constructed, Extra Space Storage branded 80,000 square foot self-storage facility located in Los Angeles, CA. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JLL, which advised Staley Point Capital, the Los Angeles-based sponsor. Tom Lorenzini, President and Chief Investment Officer of SEVN,…

My Attic Storage Adds RV Storage at its Facilities in Toccoa, GA

My Attic Storage has introduced RV storage at its Pond Street and Mize Road facilities to expand its storage solutions while offering standard drive-up storage units. This addition aims to meet the growing demand for secure, convenient RV storage facilities in the Toccoa area. Recognizing the increasing customer requests for RV storage, My Attic Storage has upgraded its facilities to accommodate this growing demand. The new RV storage units are designed with ample space to facilitate easy maneuverability and access for large vehicles. Equipped with modern security features, such as…

Go Store It Self Storage Announces Grand Opening Of New Facility in Opa-locka, FL

Go Store It Self Storage, an affiliate of Madison Capital Group Holdings, has opened its latest state-of-the-art facility in Opa-locka, Florida. The new facility at 12940 NW 27th Avenue will serve the Miami-Dade market, offering 777 climate-controlled storage units in a Class A building. “We are thrilled to expand our footprint in the Miami-Dade market with the opening of our Opa-locka facility,” said Evan Stephens, Chief Investment Officer at GSI. “This project not only demonstrates our commitment to providing top-tier storage solutions but also pays homage to the city’s unique…

Developers Building $32 Million Self-Storage Project in Surprise, AZ

A group headed up by Cedar Creek Capital, Attorney Ken Pinkard, HGTV star Tareq el-Moussa and former Congressman Barry Goldwater Jr. are teaming up on a project to build a 186,000-square-foot self-storage facility in Surprise. The $32 million project is about halfway done. It will be under the Storelocal Storage brand, a membership organization with 1,500 members nationwide. When completed later this year, the self-storage facility will feature 925 climate-controlled storage units, bays, and spaces with drive-up access, as well as 54 RV and boat storage spaces. James A. Campbell…

Self-Storage Coming to Buck Business Park Along Merrill Road in Jacksonville, FL

Buck Business Park in Arlington is gaining two developments – a self-storage center and a combined Mexican restaurant and grocery store. The park is at southwest Merrill and Fort Caroline roads, east of Interstate 295. The city issued permits on June 24 for Pepe’s Hacienda and Restaurant and for the Merrill Road Storage Center. For Pepe’s, AEC Integrated of Jacksonville is the contractor for the 7,500-square-foot build-out for a restaurant and grocery store at 9239 Merrill Road, Unit 1, at a project cost of $950,000. Plans show seating for 183…

Marc Tropp of Eastern Union Secures $10.1 Million in Financing for Construction of a Self-Storage Facility in Davenport, FL

Marc Tropp, a senior managing director with Eastern Union, has arranged $10.1 million in financing toward the ground-up construction of a five-story, 690-unit, self-storage facility in Davenport, FL. Davenport is situated approximately 65 miles east of Tampa. Eastern Union, based in New York, is one of America’s largest providers of commercial mortgage brokerage and capital markets advisory services. Together with senior managing director David Merkin, Mr. Tropp oversees the firm’s Mid-Atlantic Region office in Bethesda, MD. The climate-controlled property will have gross square footage of 103,020 square feet and 76,431…

Self-Storage Developers Plans to Develop Former Sears Store at The Mall at Greece Ridge in Rochester, NY

Plans to convert the former Sears store at The Mall at Greece Ridge into a self-storage center are moving forward. SGRC LLC, an affiliate of mall owner Wilmorite Management Group, LLC, completed the sale of the former Sears retail property to a series of entities connected to True Storage. Headquartered in Manchester, N.H., True Storage specializes in the conversion of former big-box stores into self-storage facilities, which are then managed by third-party operators such as Cube Smart, National Storage and Store Space. 2527, LLC; Bourne Acquisition, LLC; Greece Ridge Property,…

Region Self Storage Announces Grand Opening and Future Expansion in Hobart, IN

Region Self Storage, a locally owned complex, is pleased to announce the completion of phase one at its new 13+ acre site located at 8300 Clay Street, at the intersection of Clay Street and Route 30. Phase one features one 11,200 square foot commercial building and five self-storage buildings consisting of 132 units. The complex officially opened on May 20. The development, when completed, will have five – 11,200 square foot commercial buildings and eight self-storage buildings boasting 230+ units ranging in sizes from 10×10 to 10×30. Each commercial building…

Noble Self Storage breaks ground on Batavia Square in Batavia, IL

Noble Self Storage breaks ground this week on Batavia Square on a new 130,000 square-foot two-story climate-controlled self-storage facility and a 44,729 SF high-end electric car dealership. Two years in the making, Noble Self Storage acquired the closed Sam’s Club building located at 510 N. Randall Road in Batavia in March 2024. Linda Kost represented the seller, 501 N. Randall Rd Batavia LLC Inc., and the buyer, Noble Self Storage/Bradley Financial Corp., Atlanta, GA. Linda Kost from Grid 7 Properties dba Realty Metrix Commercial was the sole broker in the…

Megacenter Miramar Expands its Climate-Controlled Storage Solutions in Miramar, FL

Megacenter Miramar offers secure, climate-controlled storage and flexible leases in Miramar, Florida, suitable for sensitive items. Megacenter Miramar is establishing itself as a reliable choice for climate-controlled storage solutions in Miramar, Florida, offering units designed to protect possessions from extreme temperatures and humidity. Located in Miramar, Megacenter Miramar is a self-storage facility that caters to the storage needs of both residential and business customers in the area. Positioned near key locations like Wendy’s, Taco Bell, and KFC, the center is easily accessible to customers throughout Broward County and surrounding regions.…