Growing surrounding population: the population has increased by 16% since 2000 within a five-mile radius
LSC Development LLC of Barrington, IL finished building a 90,136 NRSF structure, with 1,691 units, at 62-05 30th Ave. in Woodside, NY. It’s located in Northwest Queens near LaGuardia Airport and the Brooklyn Queens Expressway. Chicago-IL-based ByLine Bank provided the construction financing, and Racanelli Construction was a general contractor for the project. Life Storage Inc. will manage the facility. LSC has bought, developed and operated 84 self storage properties totaling about 6.5 million square feet. Its current portfolio and development pipeline has more than 3 million square feet.
Rivercrest Realty Investors bought a 93,000-square-foot property in Union Village in Monroe, NC, and plans to redevelop it into a self storage site. Phil Corriher of Colliers \ Charlotte represented the seller in the sale. Source: ConnectCRE
Kirchhoff Acquisitions, based in Poughkeepsie, NY, bought a Bridgeport Avenue site in Darien, CT for $4 million. The seller is 917 Bridgeport Avenue LLC. Bruce Wettenstein, a partner with Vidal/Wettenstein, negotiated for both parties on the sale. Wettenstein said the new owners will convert the building into a self-storage site. Extra Space Storage will manage the property. Source: Darien Times
Rob Schick, who represents Indiana for Argus Self Storage Advisors, represented the seller in the sale of a four-building self storage development site in Muncie, IN. The site has 2.32 acres and entitlements in place for 22,000 square feet. Source: Argus Self Storage Advisors
In Florida, the Palm Coast Planning Board approved a special exception for Horizon Self-Storage, a 98,400-square-foot facility on 7 acres off U.S. 1, across from the Sawmill Creek development. R&B Holdings of Palm Coast owns the parcel. Source: FlaglerLive
Cogent Capital Management has requested to change the zoning of 4.33 acres to C-2 commercial zoning in order to build a 94,000-square-foot self storage facility at 2575 Harden Blvd. in Lakeland, FL. The site is next to the Azalea Park retirement community, east of Muirfield Village condominiums and south of Beacon Terrace Mobile Home Park. Neighboring residents and Lakeland officials denied an earlier request from Cogent. Proposed changes to the plan lowered the warehouse size by 8%, mainly by eliminating the third story. Cogent also eliminated its request for 17 outdoor storage spaces for RVs and boats on the west side of the building. The Beacon Terrace HOA has sent a letter of objection plus a petition to the city’s Planning and Zoning Board. Source: Winter Haven News Chief
In Pennsylvania, the South Whitehall Township Planning Commission has heard a preliminary/final plan review request for a proposed self storage facility on Walbert Avenue in Allentown. The developer is Montar Group LLC and it’s proposing a three-story, 112,800-square-foot site with 16 parking spaces at 3350 and 3354 Walbert Ave. Feb. 16 is the next planning commission meeting. Source: WFMZ
In New Jersey, the Springfield Board of Adjustment approved two variances to applicant Springfield Holdings LLC wishing to open a self storage facility at 109 Victory Road, near the Millburn border and I-78. The changes include removing the fifth floor, which lowers the height from 55 feet to 43.7 feet. Also, the applicant added a turnaround for a fire truck around the building. Source: Tap into Springfield
Arcland Property Co. delivered a new self storage facility to Maryland to a site at 9127 Liberty Road in Randallstown in suburban Baltimore. The facility has 825 units spread across 110,000 square feet. It also has 95 drive-up units and 48 storage spaces for RV, boat and car parking. Self Storage Plus will manage the property, its 31st in Maryland.