Heitman Supplies $65M Bridge Loan on Sun Belt Self Storage Portfolio

The portfolio totals more than 597,000 square feet across 3,963 units in Florida, North Carolina and Texas.” A joint venture between Andover Properties and Angelo Gordon has landed $65 million of bridge financing for a seven-asset self storage portfolio across the Sun Belt region, Commercial Observer has learned. The lender was not provided by the JV, but sources told CO it was real estate investment firm Heitman that provided the nonrecourse loan. Proceeds from the debt package cover first-time financing and partial refinancing. The portfolio totals more than 597,000 square…

California Ice Rink Slated for Self Storage Conversion

The permit calls for building two single-level storage buildings with a total of nearly 44,000 square feet and building a 103,000 square-foot RV/boat storage area.” Gateway Ice Center, the last permanent indoor ice rink in California’s Central Valley, may be converted into a self-story facility. San Francisco-based Baco Properties has proposed to convert the Fresno-based facility into storage, expanding its existing facility next door. Ariel Valli of Valli Architectural Group in Aliso Viejo filed a conditional-use permit application on behalf of Baco, pertaining to about 8.5 acres. The architectural group…

Storage Facility Planned for Loon Hill Road Property in Dracut

The Planning Board recently approved True Storage’s project site plan and granted a special permit for what was described as a self-storage, mini-warehouse facility.” The future of 55 Loon Hill Road now seems settled after several years of inaction on its disposition and sale. True Storage, based in Manchester, N.H., bought the 3.67-acre lot for nearly $1.4 million in a deal put together by Mansard, a real estate firm based in Andover specializing in commercial properties. The Planning Board recently approved True Storage’s project site plan and granted a special…

U-Haul to Produce Jobs, Self Storage with Land Acquisition in San Luis Obispo

  A modern U-Haul® retail, moving and self storage facility is coming to San Luis Obispo thanks to the Company’s recent land acquisition of 4.03 acres at 1109 Kendall Road. U-Haul Moving & Storage of San Luis Obispo is scheduled for completion in 2025. Preliminary plans call for the creation of a multi-story self storage building including at least 700 indoor, ADA-accessible units with climate-control options and high-tech security features at affordable price points. U-Haul also plans to build a separate warehouse for portable moving containers. “Expanding our self storage…

Public Storage Plans New 301,451 Sq Ft Building in Los Angeles’ Baldwin Hills Neighborhood

The new six-story building would consist of approximately 294,731 square feet of self storage use and approximately 6,720 square feet of ground-floor retail use, for a total of approximately 301,451 square feet of floor area.” Los Angeles’ Baldwin Hills neighborhood could soon see some much-needed self storage added to the area, according to a recent proposal submitted to the City. The proposal comes from Public Storage with designs by Ware Malcomb and would include a six-story building with both retail and self storage uses. The project site is located at…

Store Space Forms Join Venture with Storage Point Capital to Pursue Self Storage Acquisitions

We want to be a conduit to help Store Space reach its goal of 500 facilities nationwide,”  – Matthew Horne, Co-Founder and CEO of Storage Point. As Store Space continues to expand, this partnership will help maintain and create a robust acquisition pipeline,”  – Rob Consalvo, Co-Founder and President of Store Space Store Space Self Storage, which operates more than 100 facilities, has entered a joint venture agreement with real estate investment firm Storage Point Capital to pursue acquisitions. The partnership includes the deployment of a Storage Point feeder-fund investment…

Berlin Turnpike Storage Facility Approved

The facility will have nearly 630 interior self-storage units, office space, an employee break room, a retail area, and more than 20 units with outside entrances. The property is 11 acres total, with 7.6 of them in Wethersfield, and located just south of the Route 175/Berlin Turnpike interchange.” A developer has gained approval to build a self-storage facility at 2176 and 2180 Berlin Turnpike on the Newington-Wethersfield line. Applicants Robert Pryor, director of engineering for Solli Engineering LLC and White Plains-based BDC Holdings Inc., are planning a three-story, 99,360-square-foot self…

InSite to Build Five-Story Self Storage Facility in Glendale

InSite bought the property for $6.6 million in January. It was sold along with an adjacent lot at 111 Concord Street.” Torrance-based firm InSite plans to convert a Glendale industrial site into a five-story self-storage facility. The property, located at 127 Concord Street, currently contains a 22,000-square-foot structure leased to printing company Chromatic. InSite, which specializes in self-storage projects, is looking to replace the existing building with a five-story, 112,200-square-foot facility, according to documents filed with Glendale’s planning department. Plans for the site also include two levels for a subterranean…

Major Self Storage Expansion in Upper East Side, New York City

Manhattan Mini Storage Announces Expansion Plans to Add 65,000 Square Feet of Self-Storage in Upper East Side.” Manhattan Mini Storage is expanding its reach on the Upper East Side with plans to repurpose the former CMX Cinema into self-storage. The 6-level conversion will add 65,000 net rentable square feet of storage and 1,200 climate-controlled units to the area by 2024. Manhattan Mini Storage has taken a strong stance on green building practices and sustainable construction solutions with this project. Weyen Burnam, Global Director of Real Estate said, “Upcycling unused or…

New Self Storage Facility Set to Open in Fayetteville, NC

  We take pride in filling a need for high-quality self storage units for our nation’s service members. In terms of investment, adjacency to military bases offers a solid and stable return for investors, which is why we selected this market.” MV Investment is set to open a new self storage facility in Fayetteville, North Carolina, on April 1. Located at 5234 Raeford Road, the 105,000 gross square-foot complex offers 808 units ranging in size from 5×5 to 10×20. The complex will address an acute need for climate-controlled self storage…