SmartStop Opens New Self-Storage Facility in San Gabriel, CA

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, announced today that it has opened an approximately 78,000-square-foot storage facility in San Gabriel, California. The newly converted industrial property is a three-story building with approximately 790 units, drive-up access, climate control, and video surveillance. The Class A facility on Walnut Grove Avenue is surrounded predominantly by residential homes and apartments. The location is in an undersupplied area with strong demographics, including above-average household incomes and population density. In addition, the Company intends to…

Recent Transactions: 10.17.2023 – 10.23.2023

Property: StoreYour Self Storage Location: Delano, MN Broker and Brokerage: Alex Ihrke, Tom Flannigan, Matt Haugen and Nathan Gottlieb of Argus Acreage: 3.2 acres NRSF: 26,812 Square Feet: 11,400 (leased commercial industrial space)   Property: Madison Southside Storage Location: Madison, MN Closing Deal: $418,200 Broker and Brokerage: Nathan Gottlieb, Alex Ihrke, Matt Haugen and Tom Flannigan of Argus NRSF: 13,940 Unit Count: 77 drive-up units   Property: Self Storage Development Property Location: Westridge Industrial Blvd & Westridge Pkwy, GA Buyer: Boardwalk Development Group Acreage: 6.14 acres Square Feet: 86,550 Unit…

Newark Self-Storage Facility Lands $19 Million Construction Loan

JLL Capital Markets led the financing efforts for 305 Wilson Avenue, a to-be-built, 1,332-unit self-storage facility in the Ironbound District of Newark, New Jersey” JLL Capital Markets announced that it has arranged $19 million in construction financing for 305 Wilson Avenue, a 1,332-unit self-storage development in Newark, New Jersey. JLL worked on behalf of the borrower, a joint venture between CrownPoint Group and Lamar Companies, to secure the construction loan through Provident Bank. 305 Wilson Avenue, which formerly housed an auto salvage facility, will be a newly constructed, six-story self-storage…

Self Storage Market of the Month: Evanston, IL

StorTrack’s featured market this month is Evanston, IL. Evanston is located 12 miles north of Downtown Chicago. Northwestern University, NorthShore University HealthSystem and Evanston-Skokie School District 65 are a few top employers in the city. Evanston has a thriving business economy, several shopping areas and public lakefront recreation activities. How is Evanston as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.   Self Storage Market Metrics for Evanston,…

It’s Halloween Season – Is Your Facility Spooky?

  Having a spooky yard this time of year is great. But a spooky self-storage facility, not so much. If the upkeep of your self-storage facility is giving you more tricks than treats, Janus R3> and the Nokē Smart Entry system have the solutions to transform your facility from underperforming to thriving.” Having a spooky yard this time of year is one of the things that makes the Halloween season so much fun. Having a spooky self-storage facility, however, is not something to aspire to. And we’re not talking 12-foot…

Stor It USA Self Storage Opens New Facility in Levelland, TX

Stor It USA Self Storage is proud to announce the opening of its newest location in Levelland, TX. Located at 908 12th St., this state-of-the-art facility provides customers with convenient storage solutions for both residential and commercial needs. Stor It USA Self Storage understands that storage can be a stressful experience and are committed to providing top-tier service with every customer interaction. The facility’s expert staff is trained to provide helpful advice and ensure that its customers can access the best storage solutions for their needs. In this new place,…

The #1 Key For New Self-Storage Development Today? – By Marc Goodin

Price of Land? No! We have had multiple franchise owners find land for what I would consider half our price goal. We are seeing more and more lowball offers getting accepted. Even if you saved $500,000 on the land cost that is around $3,000 interest a month saved when financed. But certainly not enough to make or break a site. And certainly, no reason to pay less for an inferior location. Loan Interest rate? No! I built my first self storage in 2008 with an 8.5 percent interest rate. Was…

Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two Self-Storage Facilities in Atlanta and Fayetteville, GA

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia. 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 Talonvest Capital, which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.…

Adventure Boat and RV Storage Permitted to Build a Self Storage Unit in Wright City, MO

Wright City Aldermen approved a conditional use permit that allows Adventure Boat and RV Storage to build a self-storage unit. Aldermen approved the decision by a vote of 4-0. The vote came one week after Warren County Commissioners approved a zoning change that requires self-storage businesses to acquire a conditional use permit before building on land zoned for agricultural use. “It’s a bit ironic that earlier this week, the board approached the county asking for more restrictive rules around outdoor storage units and here we are as a city expanding…

Bronson City Council Approves Rezoning For Proposed Self Storage Facility in the East Side of Bronson, MI

A rezoning request on the east side of Bronson was approved Monday night by the Bronson City Council following a public hearing. Applicant Tyler Stritzinger wants to rezone almost seven acres of property at 150 Wayne Street from the current R-3 Multi-Family District to B-3 Community Commercial District. City Manager Brandon Mersman says Stritzinger wants to use the property for a commercial self-storage facility with the option for further commercial retail development in the future. But the Bronson Planning Commission voted 3-2 on September 14 against recommending that the zoning…