Category: Development News

Glacier Global Partners and Next Century Self Storage today announced the formation of a strategic joint-venture partnership focused on the programmatic acquisition, management, and long-term value creation of self-storage properties. The partnership aligns Glacier Global Partners’ institutional investment platform, capital markets expertise, and structuring capabilities with Next Century Self Storage’s sourcing, operating, technology-enabled operating efficiencies, and hands-on asset management strengths. Together, the firms intend to pursue a scalable and disciplined self-storage acquisition strategy across select US markets. “This partnership reflects Glacier’s strategy of expanding its investment platforms by backing best-in-class…

Wentworth Property has secured $73.3 million to acquire a portfolio of 13 self-storage assets that include more than 7,100 units and almost 840,000 square feet spread across the U.S., Commercial Observer has learned. Madison Realty Capital provided the acquisition financing, while CBRE’s Tom Rugg, Tom Traynor and Arman Samouk arranged the transaction, sources said. The self-storage properties within the 13-asset portfolio are all stabilized, according to a source close to the deal. The locations of the 13 properties were not disclosed. Wentworth Property was founded in 2005 and is based…

The Ardent Companies (Ardent) and Ironwood Development Partners announced the opening of their newest Class-A self-storage facility. Located in Copiague, N.Y., the facility will open Dec. 16, reinforcing Ardent’s proven approach of delivering institutional-quality, climate controlled, self-storage developments. The project represents Ardent’s first partnership with Ironwood Development Partners, a key milestone in the firm’s strategy to deepen its presence in high-barrier, supply-constrained markets. “Our expansion into Long Island underscores the opportunity to partner with experienced local teams that share our commitment to quality and execution,” said Ricardo De Rojas, Managing…

A two-story, 122,000-square-foot storage facility previously granted land use approval by the Winslow Zoning Board is now scheduled to seek full major site plan approval. Although the project is located on Cross Keys Road, the building will sit back from the roadway, positioned behind the existing Aldi and Wendy’s on an undeveloped parcel of land. The site plan includes 61,000 square feet of building footprint; with two floors, the total building area doubles to 122,000 square feet. If approved, the new storage facility will utilize existing internal roadways within the…

When Daniel Contreras rounded out Buellton’s five-member Planning Commission, one of his first goals was to help the city make better use of existing properties that become idle for one reason or another. “[We] have a lot of facilities and parcels that are just gathering dust at the moment, and we’re not revitalizing those areas,” he told the Sun in October. “I think it’s very important that we get to revitalize those areas before we go on to [develop] our open spaces.” Two months later, Contreras was part of the…

St. Johns County is adapting to its rapid growth with the introduction of new RV storage facilities and an upscale apartment complex. As the population has surged by over 74% since 2010, local businesses and developers are stepping up to provide innovative solutions to meet the needs of residents. New storage options and the luxury apartment community known as ‘Terrassa’ are aimed at enhancing infrastructure and accommodating the growing population. St. Johns County Expands with New RV Storage and Apartment Complex A look at how St. Johns County is adapting…

The self-storage industry has exploded over the last several years, rising 8% to $44.3 billion, according to the 2024 Self-Storage Almanac. The industry is expected to reach $50 billion by 2029. There are currently an estimated 52,301 self-storage facilities in the United States, covering nearly 2.1 billion square feet. Just over 11% of U.S. households, about 14.6 million, currently maintain a self-storage space. Where is it? The new Franklin Self-Storage site will be located at 10700 Railroad Drive, according to the city’s permit and licensing page. The new self-storage site…