Category: Development News

Plans for New RV Storage in St. Johns County, Florida

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…

BlackRock Provides $102M Refi for Self Storage Portfolio Across Six Different US States

BlackRock Managed Funds and Accounts has provided Basis Industrial with a $101.5 million refinancing loan for a seven-property self storage portfolio. The assets are located across six different states, namely Massachusetts, New York, New Jersey, Pennsylvania, Michigan and Florida. Arrow Real Estate Advisors arranged the deal on behalf of the ownership. The seven facilities are the first properties within Basis Industrial’s portfolio to be developed and opened since the company began its self storage development program in 2021. Arrow Real Estate Advisors Managing Partner Morris Betesh and Senior Vice President…

Storage Post Lands $47 Million for Self-Storage Facility in Manhattan, New York

Storage Post has secured a $47 million first mortgage loan for its 1,959-unit self storage facility at 444 E. 10th St., in Manhattan’s East Village neighborhood. Nuveen Real Estate issued the note in a transaction arranged by JLL Capital Markets. Storage Post and Almanac Realty Investors acquired the property in 2022 from a private individual, for $61 million. At the time, the owners landed a $40.3 million acquisition loan held by Heitman, with an initial maturity set for April 2025. Storage Post manages two other locations under the same brand…

A New Self-Storage Facility is Coming to Northeast El Paso, Texas

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…

Self-Storage Facility Approved Next to Rising Star Baptist Church in Smithfield, Virginia

A three-story self-storage facility will soon break ground next to Rising Star Baptist Church on Battery Park Road. Tammie Clary, the town’s community development and planning director, told Smithfield’s Planning Commission on Dec. 10 that town staff had administratively approved a final site plan, which she said calls for a three-story building with 30,645 square feet and two one-story buildings at 6,500 square feet. When Commissioner Charles Bryan asked why the proposal was not previously presented to the Planning Commission, Clary cited a July 1 change in state law that…

Maple Grove Council Approves Self-Storage Concept Plan

Ebert Cos. is looking to build a new self-storage facility in Maple Grove, according to planning documents and received a concept stage plan approval from the city council last week. The Maple Grove City Council approved the concept at their Dec. 1 meeting in a unanimous vote, though one council member did ask questions of Ebert around the actual look and interest of the building. The property would be a four-story indoor storage facility with around 850 units. It would spread 121,700 square feet of space across its four stories,…

Brand New Climate-Controlled Self Storage Facility in Worcester, MA

CubeSmart Self Storage on Barber Ave brings Worcester a brand new, secure, and convenient storage option. As Worcester continues to grow, so does the need for modern, reliable storage. The new CubeSmart Self Storage facility at 80 Barber Avenue aims to fill that gap with a fully climate-controlled, state-of-the-art space designed for convenience and peace of mind. The four-story building features a covered, climate-controlled loading bay, a rare find in the area, allowing customers to move belongings in and out comfortably, no matter the weather. Inside, wide aisles, clean, well-lit…

ARCO Design/Build Breaks Ground on a New Self-Storage Development in Fort Lauderdale, Florida

ARCO Design/Build, a leading national design-build general contractor, has broken ground on a new 147,385-square-foot self-storage development for 4 Rivers Property Group and Crow Holdings at 1400 Progresso Drive in Fort Lauderdale, Florida. The groundbreaking ceremony took place on October 30 at 8:30 a.m., marking a significant milestone for one of the last self-storage facilities to be permitted within this Fort Lauderdale zone. The project, to be branded and operated by Extra Space Storage, will feature five buildings: a five-story climate-controlled structure totaling 107,394 square feet, a standalone climate-controlled single-story…

Self-Storage Developer Finalizes Purchase Of Suburban Parcel in Rochester, New York

The transfer of property at Canal Ponds Business Park in Greece will pave the way for another self-storage facility in the Greater Rochester area. Barefoot Land Co. of Cape Coral, Florida, through Barefoot Landco LLC, on Wednesday closed on a $650,000 purchase of property at 105 Pinewild Drive in Greece. The seller of the undeveloped property was 2016 Gateway Business Center LLC, whose sole member is John Loiacono. The 2.78-acre parcel sits adjacent to Bellwood Drive and state Route 390. Barefoot Landco LLC then made a lateral transfer of the…

Basis Industrial Receives Construction Loan for Self-Storage Project in Long Island, New York

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