BWE closed a $10,000,000 construction loan for the ground-up development of a new 733-unit self-storage facility in downtown Lancaster, CA. Arash Kouhi, VP in BWE’s Phoenix office, originated the loan from a credit union on behalf of Frontera Real Estate Investments. The loan has a 15-year term with three years of interest-only payments. “We worked closely with our partners at Frontera Real Estate to complete this deal despite the adverse market conditions, and we’re proud to help them develop this project in an area that’s seeing high demand for reliable…
Farrell Pitches Huge Self-Storage Complex in 251 Butter Lane, Bridgehampton, NY
Farrell Companies was before the Southampton Town Planning Board on July 13 with two intertwined applications that could result in 156,162 square feet of self-storage space spread over four buildings, with additional outdoor storage areas and nearly 100 parking spots, at 251 Butter Lane in Bridgehampton. One application was for the subdivision of the lots, and the other was for a site-plan review. To put that into perspective, the Home Sweet Home storage facility application that has been tied up in knots before the East Hampton Town Planning Board for…
Davis Cos., Highland Development Complete 6,000-Unit Self-Storage Facility in 155 West 29th St in Manhattan, NY
A joint venture between The Davis Cos., a Boston-based development and investment firm, and Highland Development Ventures has completed a 6,000-unit self-storage facility at 155 West 29th St. in Manhattan’s Chelsea neighborhood. Public Storage will operate the facility, which rises 18 stories and spans roughly 180,000 net rentable square feet. Project partners included Mancini Duffy (architect of record), Cauldwell Wingate Construction (general contractor), GEA Consulting Engineers (mechanical, electrical, plumbing and fire protection engineer) and McNamara Salvia (structural engineer). Source
Devon Self Storage Facility Coming to 124-128 Delsea Drive, Glassboro, NJ at Former Liscio’s Property
A new Devon Self Storage facility is being developed on Delsea Drive at the site of the former Liscio’s Bakery facilities. The plans for the self storage facility at 124-128 Delsea Drive include a new two-story drive-thru self storage building that will connect to the existing older warehouse structure (which will also be used for self-storage). Recently the former free-standing retail store building on the site (closer to the Delsea Drive roadway) was demolished. Currently, workers are focused on the larger warehouse-style building at the rear of the property, removing…
Store Space Transforms an Underused Industrial Space into Self-Storage Facility in 40 Edison St, New Bedford, MA
We have transformed an underutilized industrial space into a beneficial asset for the community. We are excited to continue revitalizing and reusing spaces in new markets, bringing premium self-storage to the communities we serve.” – Rob Consalvo, Store Space President Store Space today announced the newest addition to its rapidly growing portfolio, a 114,652 sq. ft. converted industrial space in New Bedford, MA. The facility, located at 40 Edison Street, is easily accessible from major thoroughfares, including I-195, MA-140 and Kings Highway. The facility is comprised of 800 climate-controlled units.…
Victoria (Canada) Approves Self Storage Building on Douglas Street
The City of Victoria has waived a public hearing for a project that will transform a parking lot on three city lots into a four-storey mixed-use commercial building at the northwest corner of Douglas Street and Queens Avenue. Council unanimously gave initial approval this week for the $17-million four-storey building, which will feature retail and light manufacturing space on the ground floor and a self-storage warehouse in the rest of the building. The retail spaces facing Douglas Street will range in size from 335 to 2,534 square feet. The 56,500-square-foot…
Storage Facility Proposed for Former Lockley Plant Building in Grove St. New Castle, PA
A four-story self-storage facility is being proposed at the location of the former Lockley Manufacturing building in New Castle. The New Castle planning commission heard a presentation Wednesday for the proposed 119,050-square-foot facility to be located at 306-310 Grove St. It is proposed that the current building, owned by Asset Realty & Construction Group, would be torn down for the new facility, which would include interior loading, surface parking, new driveways and associated site improvements. The planning commission voted 3-1 to recommend city council approve a conditional use request for…
Storage Containers Planned for Overgrown Land in Dysart
Plans to site ten self-storage containers on overgrown land in Dysart have been given the go-ahead by Fife Council. The change of use request for the yard at 87-89 Normand Road came from AGM Storage, based in the town’s Valley View. It sought approval from the local authority to site 10 self-storage containers, and put up fencing. A supporting statement said the owner’s family, David Pearson Plant Hire, has had the yard since 1940 and it has been used commercially since then for storing building materials, siting up to 30…
Recent Transactions: 8.01.2023 – 8.07.2023
Property: TEPCO Storage Location: New Braunfels, TX Brokers and Brokerage: Jon Danklefs and Sean M. Delaney of Marcus & Millichap Acreage: 1.43 acres Unit Count: 45 Property: Kansas Self Storage Development Site (for a new ground up 4-story class A self-storage facility) Location: Princeton, NJ Buyer: Blue Sky Princeton, LLC Seller: Downtown Equities II, LC Developer: Uplift Development Broker and Brokerage: Larry Goldman of Argus Square Feet: 98,000 Vehicles Per Day: 12,000 Property: Access Mini Storage Location: Zeeland, MI Broker and Brokerage: Sean Delaney of Marcus & Millichap…
Featured Broker: Jamey Cox
Jamey has been active in the commercial construction, real estate brokerage and development business since early 2000. All of these were based in the Charlotte, NC region with projects along the east coast. Project types have included office buildings, industrial and flex space, and mixed-use developments. Jamey shifted to commercial real estate in 2011. He worked with clients throughout the region. His work included site selection and land use evaluation. In addition to land sales, Jamey worked on assignments that included industrial and office leasing and multifamily sales. Jamey joined…