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Arborwood Self-Storage LLC purchased an 8.77-acre parcel at the northwest corner of Treeline Avenue and Daniels Parkway in Fort Myers on June 15 from Courtelis Co. for an undisclosed price. The buyer plans to break ground on a 100,000-square-foot climate-controlled storage facility branded by Life Storage. A second phase of storage is planned for future development. Mike Maurer with William Raveis Real Estate in Naples represented the buyer. Source
An increasing demand for places to stow personal items and equipment is driving a proposal to convert the vacant former Kmart building, and its parking lot, on Western Avenue into self storage space. The effort is part of a larger trend of repurposing large box stores that were driven out of business into storage facilities. I appreciate the concept, I think repurposing these types of large box retail spaces — since retail is being done differently these days, thank you Amazon — is something that needs to be done.” Several…
The incoming owners of property currently occupied by Zap Zone, an indoor amusement center, have plans to invest more than $5 million to turn the existing building and space around it into a large self storage facility with space for recreational vehicle parking. As that project moves ahead, Zap Zone will leave the building on Mall Drive East and move to a now-vacant building in the Lansing Mall, said Jacob Rosberg, an associate with Cohn Commercial Properties. The agency is representing Zap Zone in the sale of its current building,…
A partnership between San Antonio-based Bakke Development Corp. and Batson-Cook Development will, together, work on two separate self storage facilities. The two projects, one in Brownsville and the other in McAllen, are mirror-images of each other. They will both comprise 781 units and 87,000 feet of rentable space. Alamo Architects is the architect for both facilities and Independent Contractors Inc. is the general contractor. Both projects are expected to be completed by the middle of next year. Source
1784 Capital Holdings LLC has landed $24.9 million in construction financing for the development of Annapolis Self Storage, a 751-unit facility in Annapolis, Md. Talonvest Capital arranged the loan, funded by ACRES Capital Corp. Managing Director James Bracco of the company’s Miami office originated the financing. The current deal completes a previous $3 million loan funded by Revere Capital Debt Funds and another $3.3 million loan provided by West Bay Capital. The development will span seven acres and will comprise a six-story Class A building and 71,360 net rentable square…
The William Warren Group has completed a new 52,332 square-foot self storage facility, under its StorQuest brand, in Phoenix. Farmers and Merchants Bank of Long Beach provided $3.9 million in construction financing in 2020. Completed in January of this year, the property encompasses eight single-story buildings, spread across 3.2 acres, offering climate-controlled units, ranging from 25 to 300 square feet. Most of the units also offer drive-up access. Other facilities include 24/7 storage access and a virtual rental center. Located at 3750 S. 51st Ave., the newly-developed asset is one…
Aries Capital is pleased to announce that the firm’s Director of Capital Markets, Brandon Perdeck, has arranged a $19.875 million, interest-only loan for a 54,000-square-foot, climate-controlled wine and self storage facility, Vineburg Wine and Self Storage, in Sonoma, California. “The borrower was seeking to refinance an existing construction loan, as well as to finance a second phase of the project,” said Perdeck. “Given the property’s broad wine storage offerings and current waitlists for storage unit availability locally, we were able to source a qualified lender through our network and arrange…
When a new self storage facility opened near the Dock Shopping Center in 2020, the town government praising the development, stating it would bring revenue to the town. With two new self storage buildings in the planning stages, Economic and Community Development Director Mary Dean said it is becoming too much. Dean recently presented a moratorium proposal to the Economic Development Commission that would put a stop to additional self storage building developments in town. She said the town had become saturated with them and a pause would allow the town to…
Trojan Storage is planning to include 27 residential units in a 200,000-square-foot development anchored by a self storage facility at 13260 West Maclay Street in the San Fernando Valley district of Sylmar, according to a report from Urbanize, citing city planning documents. Plans call for the storage units to be surrounded by a mix of one-bedroom and two-bedroom apartments, all set to be market-rate. The complex will also include 78 parking spaces. Self storage would take up around 150,000 square feet of space at the new complex, which is set…
During a special meeting Thursday, Maumee City Council passed a temporary moratorium on mini-warehouse facilities in the city, halting the approval of any permits, plans and applications for new construction. Jerry Sawicki, co-owner of a property that was planned to be sold and developed for the expansion of a self storage business, said the passage of the moratorium was underhanded and nontransparent. “It’s unconscionable to spring this,” he said. “It’s wrong to deny us what is otherwise a permitted use under their own zoning code.” The property that Mr. Sawicki co-owns…