A new self-storage facility and coffeehouse-smoothie bar will promote their businesses with two ribbon-cutting ceremonies next Wednesday. The ribbon-cutting for Cosmic Coffehouse + Smoothie Bar will be held at 282 South Main St. at 10:30 a.m. while the ribbon cutting for Blue Rock Storage Newtown will be held at 12 Commerce Road at 1:30 p.m. The public is invited to attend both events. “Both of these new businesses have been opened in Newtown by a couple of dynamic entrepreneurs who recognize the desire for the particular services they offer,” said…
Recent Transactions: 11.21.2023 – 11.27.2023
Portfolio: Acme Self-Storage Portfolio Location: Morehead City, NC Closing Deal: $5 Million Buyer: Freedom Storage Group Brokers and Brokerage: Andreas Makris, Kevin Bledsoe, Matthew Junkin and Ben Yelm of Marcus & Millichap NRSF: 46,375 Unit Count: 125 non-climate-controlled units and 193 climate-controlled units Physical Occupancy: 98% Vehicles Per Day: 9,200-33,000 Portfolio Properties: 1217 N 20th Street, Morehead City, North Carolina 204 Jacob Drive, Morehead City, North Carolina 5458 US-70, Morehead City, North Carolina Property: Lake Avenue Lock-Up Location: Wilmette, IL Brokers and Brokerage: Jeffrey L. Herrmann and Sean M.…
Inland Private Capital, Devon Delivers New Self Storage Facility in Springfield, MO
Inland Private Capital Corp., in partnership with Devon Self Storage, has completed a new self-storage conversion in Springfield, Mo. The 81,500-square-foot, Class A facility marks the ninth redevelopment delivery on behalf of an affiliate of IPC. The building previously served as a newspaper processing facility and the home of The Springfield News-Leader publication since 1933. The property was destroyed by fire in 1947 and then rebuilt. Decades later in 2002, a new printing press was added as an extension. In 2021, the property was sold to be converted into a…
Basis Industrial Lands Financing for a Self Storage Project in Melbourne, FL
Basis Industrial has received an $11 million construction loan for the development of a 955-unit self-storage facility in Melbourne, Florida. In a transaction arranged by Berkadia, American Momentum Bank provided the financing for the 126,741-square-foot property, which will be managed by Extra Space Storage. Basis Industrial purchased the site in November 2022, along with a small bay portfolio, for a combined $30 million. Marcus & Millichap First Vice President Kenneth Hobson represented the seller, and Basis Industrial was represented in-house by President Anthony Scavo. The company broke ground on the…
Compass Self Storage Announces the Opening of Brand-New, High-Tech Storage Center in Wildwood, FL
Compass Self Storage, a member of the Amsdell family of companies, proudly announces the opening of their brand new state-of-the-art, Class A self-storage center located at 3402 North US-301 in Wildwood, Florida. This location has over 82,000 net rentable square feet and represents the company’s 26th location in the state of Florida. Compass Self Storage has over 100 locations nationwide. The newest Compass Self Storage location offers smart lock units on every unit. Customers can use an app on their smartphone or a key fob to access the smart lock…
SmartStop Self Storage REIT, Inc. Open New Self-Storage Facility in San Gabriel, CA
SmartStop Self Storage REIT, Inc. has announced the opening of a new storage facility in San Gabriel, California. The three-story building has a total of 78,000 square feet and offers approximately 790 storage units. The facility includes features such as drive-up access, climate control, and video surveillance to ensure the security and convenience of its customers. SmartStop, a self-managed and fully integrated self-storage company, has been experiencing strong growth in its diversified portfolio, particularly in Canada. While the U.S. self-storage industry has faced increased competition due to the pandemic, SmartStop’s…
Inland Private Capital Corporation (IPC) Delivers Self-Storage Property in Springfield, MO
Inland Private Capital Corporation (IPC), a real estate investment manager, and Devon Self-Storage Holdings, a privately held national storage operator and developer, announced the delivery of a 731-unit self-storage property located in Springfield, Missouri. The opening marks the ninth self-storage redevelopment delivery on behalf of an affiliate of IPC. Located close to downtown Springfield and Missouri State University’s campus, the former newspaper processing facility was converted into approximately 81,500 square feet of state-of-the-art, class-A self-storage. To date, IPC’s self-storage portfolio includes 179 properties across 30 states. “We are thrilled to…
Wedgewood Avenue Receives Planning Permission For a 5 Story Self Storage Facility in Downtown Nashville, TN
Developer Wedgewood Avenue recently received MPC approval for what could be the only asset type of its kind in the East Bank. Metro council voted to approve an SP that would permit a Class A Climate Controlled 5-story self-service storage facility at 304 Oldham Street. Entitling land for self-storage on prime corridors in Nashville has proven to be extremely difficult given the city’s preference for housing. However, this particular site’s location at the end of a cul-de-sac and among Nashville’s “Spaghetti Junction” interstate infrastructure make it ideal for this asset…
Recent Transactions: 11.14.2023 – 11.20.2023
Portfolio: Santa Fe Storage Portfolio Location: Santa Fe, TX Brokers and Brokerage: Dave Knobler and Charles LeClaire of The LeClaire-Schlosser Group of Marcus & Millichap Acreage: 4.3 acres Square Feet: 97,090 Unit Count: 654 non-climate-controlled units and 24 outdoor parking spaces Highlights: Two small office spaces Billboard Efficiency apartment Property: Self Storage Property (SecureSpace Blue Bell) Location: Blue Bell, PA Buyer: SecureSpace Highlights: Friendly staff Free Wi-Fi Locks and Boxes sales State-of-the-art security system Modern lobby Property: Hanley Storage Location: Coeur d’Alene, ID NRSF: 53,920 Unit Count: 218…
Self Storage Plus in Partnership with Bonaventure Expands to Virginia Beach, VA
Self Storage Plus, a leading provider of storage solutions in the Mid-Atlantic, is pleased to announce expansion of its management services into Virginia Beach. The facility marks the 68th property managed by Self Storage Plus and the first self-storage facility for Bonaventure. “We are excited to work with the Bonaventure team to bring Class-A storage solutions to the Virginia Beach area,” said Jennifer Martinez, Director of Operations for Self Storage Plus. “We look forward to providing the same excellent customer service and experience that has been the hallmark of our…