Category: Development News

$24M Construction Loan Clears Path for New Self-Storage Project in Wayne, NJ

Basis Industrial has secured a $24 million construction loan from NexBank and NexPoint to develop a 586-unit self-storage facility at 555 Hamburg Turnpike in Wayne, New Jersey. The 85,330-square-foot project is set to break ground in August, with completion expected in February 2028. The financing follows a three-year approval process, reflecting the regulatory complexity common to high-barrier suburban markets. The transaction points to sustained capital interest in supply-constrained submarkets where new self-storage development remains difficult to advance. Read the Full Article Source: Real Estate NJ

New Self-Storage Facility Opens With Climate Control and RV Parking in Port Richey, Florida

A new self-storage facility has opened on Ridge Road in Port Richey, Florida, offering climate-controlled indoor units across three floors alongside paved outdoor parking for boats, RVs, and trailers. The facility enters a Gulf Coast market where seasonal activity, vehicle storage needs, and hurricane preparedness tend to sustain demand. The opening represents additional supply in a Florida coastal submarket and points to continued operator interest in regions where weather-driven storage patterns support consistent utilization. Read the Full Article Source: The National Law Review

U-Haul Opens New Moving and Storage Facility in South Haven, Michigan

U-Haul has opened a new facility at 72710 Light House Blvd in South Haven, Michigan, offering self-storage alongside truck rentals, trailers, and moving supplies. The storage component includes climate-controlled units, indoor options, and electronic access controls. The opening is consistent with U-Haul’s broader approach of combining moving and storage services in smaller regional markets, a format that differentiates the brand from operators focused solely on self-storage. Read the Full Article Source: PMG (Paxton Media Group)

SecureSpace Opens First Long Island Location in Deer Park, NY

SecureSpace Self Storage has opened its first Long Island location at 999 Long Island Ave in Deer Park, NY, bringing the brand’s total New York City metro presence to 11 facilities. The three-story, climate-controlled building spans 49,875 square feet across 537 units and is currently undergoing renovations that include AI-enabled security upgrades. The opening adds to a pattern of self-storage operators targeting dense suburban markets on the edges of major metros, where population density and limited space continue to support storage demand. Read the Full Article Source: PR Newswire (by…

Town Council Approves Self-Storage Expansion on Broad River Road in Irmo, South Carolina

Irmo, South Carolina’s town council voted 3-2 to approve a zoning change permitting a 42,000-square-foot self-storage expansion at 7949 Broad River Road, an existing PrimeSpace Storage site. The project repurposes vacant commercial space, and approval came with conditions requiring landscaping and facade improvements. The decision ran counter to zoning restrictions the town adopted in 2023, limiting new storage development to light manufacturing areas. The case reflects a recurring dynamic in suburban markets where operators seek to expand into commercial corridors amid continued community and regulatory resistance. Read the Full Article…

Shenango Township Approves New Self-Storage Facility on Ellwood Road in New Castle, Pennsylvania

Shenango Township supervisors in Pennsylvania have approved a conditional use request from Alpha DHZ Properties LLC to build a self-storage facility at 2515 Ellwood Road. The 16-unit structure will be constructed at the rear of an existing AT&T parking lot owned by the same developer, screened by fencing and vegetation. The small-scale project illustrates a broader pattern of self-storage development on underutilized commercial parcels, a dynamic worth noting for those tracking new supply in smaller markets. Read the Full Article Source: New Castle News

Self-Storage Asset Recapitalized at $15.2M by VOC Partners in Lehigh Valley, Pennsylvania

VOC Partners completed a $15.2M recapitalization of its Lehigh Street self-storage property in Whitehall, Pennsylvania, returning 42% of original invested capital to existing partners while retaining ownership of the asset. The transaction refinanced existing debt and brought in new equity, creating a liquidity event short of an outright sale. The 81,500-square-foot climate-controlled facility comprises 713 units and has reached 58% occupancy since opening in mid-2024. The deal offers a notable example of how self-storage investors can structure returns without divesting stabilizing assets. Read the Full Article Source: PR Newswire (by…

Self-Storage Facility Approved for Three-Story Climate-Controlled Addition in Menifee, California

The Menifee Planning Commission approved an expansion of the Prime Self-Storage facility at Normandy and Berea roads on June 10. The project calls for a three-story, 69,266-square-foot climate-controlled building that will replace part of the site’s existing RV storage area, bringing total facility space to more than 186,000 square feet. Units will range from 50 to 600 square feet with elevator access throughout. The approval points to sustained storage demand in a growing Southern California market and continued industry movement toward larger, climate-controlled assets. Read the Full Article Source: Menifee…

Bethlehem Planning Commission Approves Storage Facility With Operational Conditions in Bethlehem, Pennsylvania

The Bethlehem Planning Commission approved a land development plan for an 84-unit self-storage facility at 2955 Linden St., with the project submitted by Linden Street Self Storage LLC and presented by Storage First CEO Byron Anstine. The facility will offer a mix of drive-up and climate-controlled units in the city’s commercial shopping zone. Approval was granted with conditions addressing vehicle size, fencing, and hours of access. The case is a representative example of the local regulatory process self-storage projects commonly face in smaller urban markets. Read the Full Article Source:…

Self-Storage to Proceed on a Site as Housing Plan Stalls in Cypress Park, Los Angeles

A mixed-use development at 3200 N. Figueroa Street in Los Angeles’ Cypress Park neighborhood has been scaled back, with the 160-unit residential component placed on indefinite hold. Developer Gaw Capital USA pointed to the spread between new construction costs and current multifamily valuations as the deciding factor. The self-storage portion of the project is proceeding and is expected to wrap up by the end of next year. The case underscores a broader dynamic in which self-storage development continues while residential projects face mounting financial barriers. Read the Full Article Source:…