Bakke, Batson-Cook Break Ground on 773-Unit Self-Storage Facility in Weslaco, TX

A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on a 773-unit self-storage facility in the Rio Grande Valley city of Weslaco. The site at 1115 Dragonfly Ave. spans 2.6 acres, and the building will rise three stories and span 86,975 net rentable square feet. Project partners include Alamo Architects, civil engineer Halff, general contractor Independent Contractors and construction lender IBC Bank. Completion is slated for the first quarter of 2025. The project marks the sixth self-storage collaboration between the two firms.…

Diamond Point Development, LLC (DPD) Partners With Castle Hill Investors, LLC to Open CubeSmart Self Storage in Poughkeepsie, NY

Diamond Point Development, LLC (DPD), in partnership with Castle Hill Investors, LLC, recently opened CubeSmart Self Storage, at 1998 South Road, in Poughkeepsie, NY. This property is a class A, 90,000-square-foot self-storage facility located directly across the street from the Poughkeepsie Galleria, where Osho Japanese Steakhouse was previously located. CubeSmart will serve as the property management company. The principals of Diamond Point Development, brothers Jason Sommer and Aaron Sommer, are originally from Schenectady, NY and are pleased to develop another state-of-the-art self-storage facility in Upstate New York. They have recently…

SecureSpace Launches State Of The Art Climate-Controlled Storage in Seattle, WA

The new self-storage facility recently opened in Seattle, WA, marks the latest from SecureSpace Self Storage, a widely trusted brand that owns and operates similar centers all throughout the US. This new facility, in Greenwood, located at 9309 Aurora Ave N, Seattle, WA 98103, features top-tier climate-controlled storage units tailored for the Seattle climate. These units ensure your valuables are protected from extreme temperatures, humidity, and air quality issues, making them ideal for sensitive items like electronics, musical instruments, and antiques. Those looking for climate-controlled storage in Seattle can choose…

SecureSpace Self Storage Takes Over a New Storage Facility in Rosemead, CA

SecureSpace is excited to unveil its newest addition to the SecureSpace family, SecureSpace Self Storage Rosemead, conveniently located at 8635 Valley Blvd, Rosemead, CA 91770. This latest facility is set to redefine the self-storage experience for residents and businesses in Rosemead and the surrounding communities with its top-tier features and customer service. SecureSpace Self Storage Rosemead has been meticulously designed to cater to a variety of storage needs. Whether clients are looking for a small unit to store a few boxes or a large space for furniture and business inventory,…

Recent Transactions: 3.19.2024 – 3.25.2024

Property: Devon Self Storage (third-party managed asset) Location: Pasadena, TX Address: 6045 Fairmont Parkway, Pasadena, Texas Seller: Pasadena Self Storage, LLC Buyer: Extra Space Storage Brokers and Brokerage: Tom de Jong and Jacob Becher of the de Jong | Becher Self Storage Group of Colliers in partnership with Charles Fertitta of Colliers Houston NRSF: 71,505 Unit Count: 509 units (471 fixed storage units and 38 boat/RV parking spaces) Occupancy: 80%   Property: Spring Cypress Self Storage (18 single-story buildings) Location: Spring, TX Year Built: 1970 Brokers and Brokerage: Dave Knobler…

Featured Brokers: Tom de Jong, Jacob Becher, Nate Fliflet, Brendan Carney, Dana Chobor and Jack Parkan

The de Jong I Becher Self Storage Team, consisting of Tom de Jong, Jacob Becher, Nate Fliflet, Brendan Carney, Dana Chobor and Jack Parkan, has a combined 30+ years of dedicated self-storage experience with an excess of $2 billion in closed transactions throughout the United States, including small single asset sales and large multi-property portfolios. Our team has a deep network of connections within the self-storage industry ranging from single facility owners to the largest institutional owner-operators and REITs (public and private). To find out what your asset(s) is worth,…

100 – 3 – 1 The Secret to Finding Land For Your Next Self-Storage! By Marc Goodin, CEO of Storage Authority, The Only Self-Storage Franchise in The US

100 – 3 – 1 Boom Land Under Contract! Finding land is a math equation: 100-3-1 Research 100 properties Make 3 offers And purchase one property Most people research 12 properties the first month, and 10 the next month. The next month they have friends flying in and a birthday party to go to. The next month it is raining. And the next month they say it does not work. You need to understand the math ½ x 10 does not equal 5. It equals zero. You do not get…

Featured Broker: Adam Roossien

Adam is a Director in the Dallas office of JLL Capital Markets, Americas. He joined JLL as part of the HFF acquisition and has extensive experience in commercial real estate. He focuses on self-storage investment advisory with JLL Capital Market’s National Self-Storage team. During the course of his career, Adam has been involved in more than $4.5 billion in commercial real estate transactions. Adam joined HFF in 2017 and has significant experience in acquisitions and dispositions, real estate valuation and consulting services, and strategic analysis, including development feasibility study, in-depth…

Value? What Value? – By Tom de Jong (Executive Vice President) de Jong I Becher Self Storage Team of Colliers International

Self-storage buyers always ask about CAP rates. First, a capitalization (“CAP”) rate in principle is quite a simple calculation – take the Net Operating Income (NOI or EBITDA) and divide it by the asking price and the resulting number is the CAP rate. This represents the return an investor would expect over a one-year period. In some cases, it is the expected first-year income, in other cases it is the most recent (aka trailing 12-month) annual net operating income. Capitalization Rate = Net Operating Income / Current Market Value (or…

More Self Storage Units Coming to Amherst, OH

The city could soon see two more storage unit facilities as developers plan to make their way to City Council in the next two weeks. The first facility would be at Rice Road Industrial Parkway in the same lot as the Habitat for Humanity Restore. The second is proposed to be off South Leavitt north of 300 Industrial Parkway. Both facilities being proposed are very similar, Amherst Mayor Mark Costilow said. Each has gone through the district board of review to be approved. “Both of these are phase projects so…