Author: Shinil Krishnan

U-Haul Growing Self-Storage Footprint in Warner Robins, GA

U-Haul® will use its eco-friendly Adaptive Reuse program to convert a former Sunbelt Rentals warehouse at 2069 Watson Blvd. into a full-service retail, moving and self-storage facility. U-Haul Storage at Watson Blvd. is already offering trailer and truck rentals, boxes and moving supplies, towing equipment and more out of a temporary showroom. U-Haul acquired the 4.99-acre property on March 31. In addition to renovating and reusing the existing warehouse, U-Haul will add a state-of-the-art, three-story self-storage building and a separate warehouse for portable moving containers. “Expanding our self-storage footprint here…

Allegany Crossing Self Storage Sets Soft Opening this Week in Allegany, NY

Allegany Crossing Self Storage, the new facility with indoor, climate-controlled space as well as outside storage space and located in the former Kmart plaza on Route 417, is quietly opening this week. The 21-acre site includes the 100,000-square-foot building, which was renovated inside and out, with about 60,000 square feet for indoor storage and the remainder for retail, commercial or light manufacturing. There is more outdoor secure storage to complement hundreds of indoor storage spaces of all sizes The owner is Cornell Capital Holdings, headquartered in Olean and which built…

Chick-fil-A Property Owners Propose Self Storage Facility on Park Boulevard in Seminole, FL

Another self-storage facility could be coming to Park Boulevard. At an Aug. 8 workshop following its regular bimonthly meeting, the City Council authorized city staff to negotiate a development agreement with the owners of a 6.2-acre property at 10890 Park Blvd. for a 90,000-square-foot, climate-controlled storage facility. The self-storage facility — to be called Seminole Storage — would make at least a half-dozen such businesses situated along the stretch of busy roadway running between Pinellas Park and Seminole. John-Mary Enterprises Ltd. of Tampa owns the property, which sits near Park…

Talonvest Structures $10 Million Bridge Loan for a Self Storage Facility in Eatontown, NJ

Talonvest Capital, Inc., a boutique self storage and commercial real estate advisory firm, along with their client, Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private company that intends to qualify as a real estate investment trust sponsored by an affiliate of SmartStop® Self Storage REIT, Inc. (“SmartStop”), is pleased to announce the successful closing of a $10 million loan for a self storage facility located in Eatontown, New Jersey. The facility consists of approximately 730 interior, climate-controlled units, totaling approximately 65,800 net rentable square feet, and services affluent…

Recent Transactions: 8.15.2023 – 8.21.2023

Property: Affordable Self Storage Location: Denton, TX Brokers and Brokerage: Danny Cunningham and Brandon Karr of The Karr & Cunningham Group of Marcus & Millichap NRSF: 47,108 Unit Count: 332   Property: Westrock Indoor Sports & Entertainment Complex (operating as Cube Smart Self Storage) Location: Bardonia, NY Closing Deal: $35 Million Buyer: Prime Storage Nanuet, LLC Seller: 21 Pralle Owner, LLC (affiliate of the Renatus Group Square Feet: 70,000     Property: River Rock Storage Location: Gastonia, NC Brokers and Brokerage: Jonathan Spencer, Scott Heckert and Jonathan Spencer of Storage…

StoreEase Virtual Management Announces the Launch of Virtual Software-as-a-Service (SaaS)

StoreEase announces the launch of their cutting-edge Virtual Technology Platform as a software-as-a-service (SaaS) to complement its existing third-party management service. This new offering provides a White Label Solution for self-storage operators to revolutionize their existing management platforms. Pre-announcement StoreEase has procured multiple partnerships with top operators to beta-test the platform across a significant number of stores. The groundbreaking technology platform features proprietary hardware and software enabling self-storage operators’ access to industry-leading efficiencies and benefits. The Virtual solution is designed to help operators of all sized facilities overcome the challenges…

Market of the Month: Lakewood, OH

StorTrack’s featured market this month is Lakewood, OH. Lakewood is a city in Cuyahoga County, and is located about 6 mile west of Downtown Cleveland. This city has a total of 32,000 housing units citywide including 12,700 one- or two-family homes. How is Lakewood 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 Lakewood, OH (5 mile radius analysis)   Current Supply:…

Recent Transactions: 8.08.2023 – 8.13.2023

Property: Box Self Storage Location: Panama City Beach, FL Buyer: Evelyn Capital Seller: Hickory Capital Group (HCG) Broker and Brokerage: Ashley Compton of Colliers Acreage: 2.45 acres NRSF: 75,225 Unit Count: 670 Highlights: Drive-through loading lane that provides immediate access to two freight elevators Surrounded by an estimated 14,402 individuals (5-mile radius) 16+ multifamily complexes     Property: River Rock Storage Location: Gastonia, NC Brokers and Brokerage: Jonathan Spencer and Scott Eckert of The Storage Acquisition Group Acreage: 11.20 acres Square Feet: 124,374 Unit Count: 631

Featured Broker: Brian Somoza

Brian is a Senior Managing Director and National Self Storage Group leader based out of the Los Angeles office of JLL Capital Markets, Americas. He specializes in self storage asset sales, equity placement and advisory. He has been directly involved in more than $7.5 billion of self storage property transactions throughout his career, including the development, operation and management of self storage. Prior to joining JLL, Brian was an acquisitions manager at Public Storage, the largest publicly-traded REIT focusing on self storage properties. Public Storage Responsibilities: Devoted full-time efforts to…

BWE Arranges $10 Million Loan for Self Storage Project in Lancaster, CA

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…