Category: Self Storage News

Florida-based development and investment firm Basis Industrial has received a $27 million construction loan for a self-storage project that will be located in the Long Island community of Rockville Centre. Public Storage will operate the facility, which will comprise 121,500 gross square feet of space across 957 units. NexBank is the senior lender on the project, and NexPoint is the mezzanine lender. Construction is underway and is expected to be complete in early 2027. Source

Blue Vista Capital Management, LLC (“Blue Vista”), in collaboration with UBS’s Unified Global Alternatives – Real Estate (UGA RE) business and Extra Space Storage (“EXR”), today announced the formation of a strategic collaboration to invest in self-storage assets in the U.S., which will have approximately $600 million in buying power to build a diversified self-storage portfolio. The strategy is to identify core/core-plus, value-add, and development opportunities across the U.S., with the goal of creating a portfolio of self-storage assets designed for a perpetual life investment vehicle. EXR will manage all…

DECA Companies secured critical financing for a self-storage construction project from Affinius Capital and Axonic Capital. The $45.2 million debt will fund construction of a 1,600-unit Extra Space self-storage development at 2270 McKinnon Avenue, Commercial Observer reported. Talonvest Capital’s Kim Bishop arranged the deal. The development will span 175,000 square feet across five stories. The ground floor will have light industrial space, while the top four stories will have self-storage. National self-storage company Extra Space will manage the property. The project, in San Francisco’s Produce Market neighborhood, is one of…

The Sherman Municipal Zoning Board conducted a public hearing about a proposed storage facility on Osborne Street near Interstate 86 at their meeting this month. The proposed construction would consist of two metal buildings, which would house approximately 75 self-storage units. Micah Meredith, who plans to build the storage facility, presented plans for two 30-by-160-foot metal buildings. Sherman Mayor Colleen Meeder read the drafted minutes of the Sept. 22 Planning Board meeting, which detailed the board’s discussion of the proposed storage facility, their recommendations, and their referral to the Municipal…

A self-storage facility named Oak Grove Storage is currently under construction at 2030 Pat Booker Road in Universal City. What you need to know The 578-unit, climate-controlled storage facility is being developed by Capco General Contracting. Construction began in May and is anticipated to be completed in summer 2026. Oak Grove Storage will be adjacent to The Grand at Oak Grove Apartments, said Michael Cassata, Universal City’s development services and economic development corporation director, in an email to Community Impact. The Grand at Oak Grove Apartments is a 268-unit multifamily…

Bernard Financial Group (BFG) has arranged a $13.6 million construction loan for a self-storage project in Auburn Hills. Adam Ferguson of BFG arranged the loan with a banking institution. The borrowing entity was Opdyke/S Blvd Self-Storage LLC & 975 Opdyke II LLC. Source

The entity CS Bright Place Yonkers LLC is proposing to build a six story self-storage building to be operated as a CubeSmart facility at 12 Bright Place in Yonkers. The estimated cost of the project shown in a document filed with the city is $5,075,000. According to Attorney Maximillian R. Mahalek of the White Plains-based law firm Cuddy & Feder, the site for the proposed building is a 0.70-acre lot along the south side of Bright Place and the east side of School Street. Bright Place becomes School Street. The…

Basis Industrial has secured a $27 million construction loan for a 121,500-square-foot self storage development in Long Island’s Rockville Centre, N.Y. NexBank and NexPoint provided the senior and mezzanine loans, respectively. The facility is scheduled to break ground immediately and come online in early spring 2027. Basis Industrial President & Managing Partner Anthony Scavo arranged the deal, while NexPoint Director Taylor Colbert led the financing. Attorney Mike Mendelow represented NexBank in the transaction. The development site traded in the fourth quarter of 2022 for $5.5 million. The present transaction marks…

UPG Spaces is excited to announce the opening of Signature Storage, a premium self-storage facility located at 550 N. Farm to Market 148 in Crandall, TX 75114. This state-of-the art property is open for business and invites residents and business owners alike to enjoy its “Best Space. Best Price. Best Service – It’s Our Signature” amenities. “This is a beautiful property and includes the latest innovative industry technology. We will operate it with our HelloSpace+ team that understands self-storage needs must be met quickly and conveniently upon demand,” stated Julie…