Metro Storage LLC Opens New Store in Wall Township, New Jersey

    Metro Storage LLC announced the opening of its newest store in Wall New Jersey. Located at 2274 Route 34 in Wall Township, the new, three-story 81,400 GSF state-of-the-art facility offers 59,245 RSF of climate-controlled storage. It is the 10th Metro Self Storage store in New Jersey. “New Jersey is an exciting market with lots of opportunity through the population density, and this new facility is a valuable addition to our portfolio,” said Metro Storage LLC President Martin Gallagher. “Metro is well established in this market with an operational…

Talonvest Arranges $14.1 Million Construction Loan for CA Development

The site is uniquely positioned adjacent to two recently delivered RV/Boat storage facilities and, upon completion, will consist of 373 climate-controlled units and 461 drive-up units totaling 114,752 NRSF.” Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, along with their client, Madison Capital, is pleased to announce the successful closing of a $14.1 million loan for the construction of a single-story class A, self storage development located at the Southeast Corner of Wabash Ave and Naples Ave in Redlands, CA. The site is uniquely positioned…

Ivanhoé Cambridge Makes First Investment in Self Storage Alongside Strategic Partners

Ivanhoé Cambridge alongside another global institutional investor and Safely Store will be investing an initial US$400 million in equity to be deployed nationally over the next few years, with the potential to scale up further over time.” Ivanhoé Cambridge, a global real estate industry leader, is pleased to announce its new strategic partnership with Safely Store Self Storage (“Safely Store”), targeting the self storage sector in the United States, marking its first entry into this alternative industrial asset class. Safely Store is a self storage dedicated investment platform formed by…

Recent Transactions: 6.27.2023 – 7.04.2023

Portfolio: Storage Zone Portfolio (5 Property Portfolio) Location: Lubbock, TX Brokers and Brokerage: John Owens of KW Commercial Investment Advisors NRSF: 306,084 (room for expansion) Unit Count: 1,772 units   Portfolio: Self Storage Portfolio (11 Properties) Location: Green Bay, WI Closing Deal: $34.2M Buyer: Rogers businessmen Patrick Byrd and Alex Baumeister Seller: Lok Safe Storage Brokers and Brokerage: Butch Gurganus of Focus Commercial Real Estate represented the buyers in the transaction and Sean Delaney of Marcus & Millichap closed the sale Square Feet: 475,141 (Combined) Occupancy: 98%   Property: Valor…

Featured Broker: Thomas Gustafson

Tom Gustafson is the Senior Vice President | Principal of the Colliers Self Storage Group, a sales investment brokerage team that transacts nationally. He services owners and sellers by creating value to their portfolios and navigating the sales process through this higher interest rate environment. Tom and his team have transacted over $1 billion in self storage assets since the team’s formation in 2014. Let Tom assist you in understanding the best course of action for your assets by providing a free Market Valuation. Contact: Tom Gustafson 216-409-3186 Thomas.gustafson@colliers.com

West Glendale Parcel Targeted for Apartment Complex, Self Storage Facility

A new apartment complex and a self-storage facility look to be coming to a spot on the west side of Glendale. The city council at its Tuesday voting session will consider adopting an ordinance to approve a rezoning application for a 24-acre project titled 101 & Northern Avenue (Thompson Thrift Storage) at the southeast corner of Northern and 99th avenues. The planned area development narrative calls for an apartment complex consisting of three buildings totaling 234 units on 11 acres. The other portion of the parcel is targeted for a…

Rochester’s Menards Store to Build a 538-Unit Self Storage Center

The plans for the new Menards project show the 538 units plus 106 parking stalls to be built on an 8-acre parcel. The proposal for the facility includes 203 units measuring 10′ by 15′, 245 10′ by 20′ units and 90 10′ by 25′ units.” Menards wants to do more than just sell stuff to Rochester area shoppers. It wants to also store that stuff. The Wisconsin-based home improvement retailer filed a general site development plan this week to build a 538-unit self-storage facility on open land just north of…

New Self-Storage Facility Approved For Construction

Another self-storage facility will be coming to Bristol Township. Last week, Bristol Township Council approved preliminary and final land development for Poverni Sheikh Group. The council also voted to approve a zoning change for the site to reclassifying it from Light Manufacturing to Commercial. The 36,000-square-foot, three-story facility will be constructed along Route 13 at Airport Road and Silvi Avenue. There will be entrances and exits on Airport Road, as well as two on Silvi Avenue. The Baltimore-based developer will consolidate the two lots, which totals to 2.5 acres, and…

Cooper Companies Announces the Start of Construction on its Climate-Controlled Self Storage Facility on West Route 66 in Flagstaff

Arizona self-storage developer and operator, Cooper Companies, has announced the start of construction of a 104,672 sf three-story climate-controlled self-storage facility at 1683 West Route 66 in Flagstaff, AZ. The General Contractor of this marque location along the iconic Route 66, is TLW Construction, and the architect is national firm, RKAA. 108 Excavating, SWI Engineering and Morning Dew Landscaping, all locally owned and operated Flagstaff companies, have been hired as the excavating contractor, civil engineer, and landscaping design firm. The project will feature 694 energy-efficient climate control units, three climate-friendly…

Progress Now Easily Seen on Storage Unit Project in Kirksville

Visible progress is being made on the climate-controlled storage unit project on the south side of Kirksville. The former Gordmans sign has been taken down and has been replaced by a Smartlock Self Storage sign. Construction is still ongoing, but the goal is to have phase one of this project completed by the end of this summer. Phase one only includes installing these storage units inside the former Gordmans building. In future phases of this project, storage units will be installed in the former JCPenney building. Smartlock Self Storage has…