Category: Self Storage News

New Self Storage Facility Opens in Parkland, Florida

The new storage facility in Parkland on Loxahatchee Road is now open, and they’re offering a first-month special for residents who sign up for new space. Extra Space Storage is now open, and they’re offering the first month free. They have small spaces available for $42/month, medium for $134/month, and large starting at $257/month. Extra Space Storage has three additional locations in the Parkland area, including two in Coconut Creek and one in Boca Raton. The storage spaces are all indoor and climate controlled. The 150,000 square foot storage facility…

$23.44 Million Construction Loan Secured for Chula Vista Self-Storage Development

JLL Capital Markets secured life company financing to fund the 1,284-unit project in the San Diego area JLL Capital Markets announced today that it has arranged $23.44 million in non-recourse construction financing for Chula Vista Storage, a 1,284-unit, to-be-built self-storage facility in Chula Vista, California. JLL worked on behalf of the borrower/developer, UTEX Storage Partners, to secure the four-year, floating-rate non-recourse construction loan through a top-tier life insurance company. Chula Vista Storage will be operated and managed by a best-in-class, REIT third-party management platform. Upon delivery in 2026, Chula Vista Storage…

Prime Group to Receive $505 Million Refinance for Self Storage Portfolio Across 14 States and one U.S. Territory

Prime Group Holdings is expected to receive a $505 million commercial mortgage loan for a 32-property self-storage portfolio and two mixed-use properties, located across 14 states and one U.S. territory, according to Fitch Ratings. The ownership will also receive a $70 million mezzanine loan in the same transaction. Citi Real Estate Funding Inc. and Goldman Sachs Bank USA will issue the five-year, fixed-rate note. The deal is scheduled to close next week, on Oct. 17. The loan will retire an existing $482.4 million debt, as well as pay closing costs…

StowAway Climate Control Storage Expands With Two New Climate-Controlled Buildings in Fulton, Texas

StowAway Climate Control Storage, a trusted self-storage provider in Fulton near Rockport, proudly announces the addition of two new climate-controlled buildings. This expansion reflects the company’s commitment to delivering secure, temperature-regulated storage solutions to meet the growing needs of the Coastal Bend region. The two newly constructed climate-controlled buildings also introduce convenient drive-up access, allowing customers to load and unload directly from their vehicles. The facility also offers on-site packing supplies—boxes, tape, and more—to protect belongings during storage. Friendly, knowledgeable staff are available to guide customers every step of the…

SurePoint Development LLC Begins Construction in Rosharon, Texas

Clint Wynn, Robert Loeb, Jeff Bailey, and Brian Cisarik of SurePoint Development are pleased to announce that construction has begun on their latest self-storage development in the Houston area. Located in Rosharon on FM 521 just south of Sienna Parkway, the single-story Class A facility will feature 95,000 rentable square feet of climate controlled and standard storage units, complementing SurePoint’s 102,000 square foot property which opened in 2021 within Sienna, a Johnson Development master-planned community. Opening in the spring of 2026, this project will be their eighth in the Houston…

MMCC Secures Financing for Self-Storage Construction Project in Homestead, Florida

Marcus & Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC’s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36…

Developer to Build Self-Storage Lot on Site of Vacant Landfill in Sterling Heights, Michigan

A Warren homeowner says she will move now that officials have given the green light to a developer to build a storage facility on the site of a closed landfill across the street from her home in neighboring Sterling Heights. Nancy Warnars, a licensed counselor and former teacher, recently told the Sterling Heights City Council she is “heartbroken” over their decision to allow the project, which she says will result in methane leaks from the former dump. “My patience is absolutely gone for people who disrupt our environment,” she told…

New Self-Storage Facility Opens in Ferguson Township, Pennsylvania

One of several new self-storage facilities planned around the State College area recently opened its doors. Brickwork Self Storage, 222 Science Park Road in Ferguson Township, offers 560 climate-controlled units in a various sizes, from compact 5-by-5 units to large 10-by-31 units, as well as drive-up units with power access. Developed by Roeshot Construction of State College and managed by Storage Asset Management, the three-story, 72,000-square-foot facility utilizes keypad entry, 24/7 recording security cameras, on-site management and a smart entry system that allows renters to open their storage units with…

Affinius Capital Provides Refinancing Loan For Self-Storage Portfolio in New York City

Affinius Capital has provided a $120 million loan for the refinancing of the Prime NYC Self-Storage Portfolio, a collection of three self-storage facilities totaling 7,230 units in New York City. The names and addresses of the properties, which exclusively offer climate-controlled space, were not disclosed, but the locations span Brooklyn, Queens and The Bronx. Drew Anderman of CBRE arranged the loan through Affinius Capital on behalf of the owner, Prime Group Holdings. Miami-based lender 3650 Capital provided an undisclosed amount of junior mezzanine financing for the deal. Source

NexPoint Fully Subscribes $45 Million Self-Storage DST

NexPoint, a multibillion-dollar alternative investment firm, today announced that it has fully subscribed its NexPoint Storage VI DST, a Delaware Statutory Trust (“DST”) offering. The offering has reached its total goal of $45 million in equity raised since its launch in January. NexPoint Storage VI includes two GenerationV (“GenV”), Class-A storage facilities located in Temple Hills, Maryland, and Nashville, Tennessee. Both properties are managed by Extra Space Storage, a leading third-party manager of self-storage properties in the United States. The properties benefit from being accessible to stable-growth metropolitan statistical areas.…