Category: Development News

Miami Self-Storage Investor Scores $10.3M Construction Loan for a Self Storage Facility near Doral, FL

The fact of the matter is, Americans keep buying more stuff. And when stuff starts piling up, they need a place to put it. More than one in five Americans rent a self storage unit. And that number is growing by the day. So has rent. Self-storage rent has increased 6.1% year-over-year to $176 for a standard 10-foot-by-10-foot unit, according to RentCafe. South Florida had the seventh-most self-storage construction activity during the last decade with 9.1 million square feet of new storage. DXD Capital obtained a $10.33 million construction loan…

10 Federal Storage Raises $80 Million in Nine Months via Fourth Self-Storage Offering in Georgetown, TX, with a Strong Performance Across Portfolio

  10 Federal, a prominent and innovative leader in the self-storage sector, proudly announces a highly successful capital infusion of $21 million in equity during the third quarter for their Fourth Self Storage offering. This achievement has propelled 10 Federal’s total capital raised for its fourth offering to an impressive $80 million, approaching the company’s ambitious $100 million year-end target. “We are excited to share that we have successfully secured an additional $20 million in equity funding during the third quarter, bringing our total capital raise to $80 million within…

SecureSpace Announces Opening of New Self-Storage Facility in Philadelphia, PA

SecureSpace Self Storage today announced the grand opening of a new self-storage facility, SecureSpace Philadelphia Glenwood, located in and serving the Glenwood community in Philadelphia, PA. The newly built Class A facility is strategically located at 2501 North 15th Street and offers 120,260 square feet of 100% climate-controlled self-storage space with units ranging from 5’x5’ to 10’x25’. With a three-mile radius self-storage supply of 3.6 sf/capita, well below the national average, the store also boasts direct visibility from Cumberland and Broad St, where over 55k vehicles pass by daily, as…

New 4-Story Self-Storage Unit and Wine Cellar Proposed for Sardis Road – Asheville, NC

A new four-story self-storage facility has been proposed for Sardis Road, according to plans submitted to the city on Sept. 26. The development will act as a storage unit but will also offer units dedicated to wine fermentation. The facility, developed by Bee Safe Storage, will be the second Bee Safe Storage in Asheville. Bee Safe has another Asheville storage site, which also acts as a wine cellar, at 1292 Hendersonville Road. The development is next to DeBruhl’s Used Car Superstore and the Sardis Road and Sand Hill Road intersection.…

National Storage Opens at Frenchtown Township’s Former Kmart Site in Monroe, MI

The former Kmart and adjacent Kmart Service Center buildings have been transformed into a self-storage center. Land parcels in the parking lot are for sale, and other businesses are expected to be built at the site. On Thursday, a ribbon-cutting and grand opening event took place at National Storage, 1290 N. Monroe St. The business employs two and offers 782 rentable, climate-controlled storage units. “We have over 70,000 square feet of rental,” Jacob Fuller, True Storage operations manager, said. “The former tire store is where the rents office is located,…

Go Store It Opens New Site in Baton Rouge, LA

Go Store It is now open at 1683 O’Neal Lane in Baton Rouge. The facility features 86,680 square feet of space, with more than 550 storage units. Climate-controlled units are available. This is the first Baton Rouge location for North Carolina-based Go Store It. The company has 88 locations across the U.S., including one in Lake Charles. The self-storage business is located in a former Hobby Lobby building, which Go Store It bought in May 2021 for $3.9 million. Source

StorSafe Self Storage Expands Facility in Merrillville, IN

StorSafe Self Storage of Merrillville recently expanded by two new buildings. The additions offer 12,000 square feet more vehicle space, which is climate controlled. The parking recently was repaved and ready for a variety of recreational vehicles. “This expansion is more than just offering the area’s self-storage consumers a unique market service, it’s also about enhancing operational efficiency and setting the stage for substantial investor ROI,” said Tom Bretz, CEO of StorSafe. “Our focus is always on delivering profitability, in part by delivering the very best customer experiences.” StorSafe (Merrillville):…

Cooper Companies Inc. Announces the Completion of Site Improvements for its Self-Storage Facility in Flagstaff, AZ

Arizona self-storage developer and operator, Cooper Companies Inc., has announced the completion of site improvements of the 104,672-sf three-story climate-controlled self-storage facility at 1683 West Route 66 in Flagstaff, AZ. The excavation work on the new construction site took 2 months to complete. The contractors, TLW Construction and 108 Excavating, completed the excavation with a portion of the rock removed to be reused during construction and landscaping. “Finishing the challenging site improvements was an important step towards completion of this project,” said Mark Hanneken of Cooper Companies, Inc. The General…

City Approves Self-Storage Facility at Former Lockley Manufacturing Site in New Castle, PA

City officials on Monday paved the way for the demolition of the vacant Lockley Manufacturing building for the construction of a four-story self-storage facility. “This is an opportunity,” attorney Angelo Papa, who represents the developer, told the Zoning Hearing Board of Appeals during a Monday hearing. “This town has to survive and find new ways to use properties. This isn’t a tattoo parlor, but a $5 million building. This area will be beautiful.” Zoning Hearing Board members Rich Gormley, Bess Ondako and Ronald Davis agreed to waive zoning requirements for…

Lawrenceburg Self Storage Celebrates Grand Opening Next to Lawrenceburg Fairgrounds, IN

Giveaways, a food truck and kids activities highlighted a beautiful Saturday at Lawrenceburg Self Storage. The new storage facility at 200 Speedway Drive, next to the Lawrenceburg Fairgrounds, celebrated their Grand Opening on Saturday. They did so by giving away a 65-inch TV, gift cards, and first month free storage to a number of attendees. Lawrenceburg Self Storage features a variety of storage units that are open for access 24 hours a day for residential and commercial customers. The top-quality climate-controlled units keep your items both cool and dry no…