Category: Development News

Shadowbrook Capital has closed on construction financing from Provident Bank, arranged by JLL, for a three-story, 881-unit self-storage facility at 161 Harristown Road in Glen Rock, New Jersey. The 121,384-square-foot climate-controlled project is slated for completion in 2027 and will be operated by Extra Space Storage. The transaction is the second construction loan JLL has arranged between the same borrower and lender. The deal points to sustained lender and developer interest in Bergen County, a market characterized by limited self-storage supply and above-average household incomes. Read the Full Article Source:…

A developer has filed plans with the Boston Planning Department to construct two five-story self-storage buildings on a 2.7-acre parcel at Hyde Park Avenue in Readville. Joe Federico Jr. purchased the site for $6.8 million in March 2025 after the prior owner, a residential developer, went bankrupt before breaking ground. The proposal requires full new city review and would proceed in two phases. The project is a notable example of a failed residential site being redirected toward self-storage, a trend worth watching in supply-constrained urban markets where land is scarce…

U-Haul has opened its first company-owned facility in Hot Springs, Arkansas, at 623 Files Road. The 62,825-square-foot building includes more than 850 climate-controlled storage units alongside truck and trailer rentals, U-Box portable containers, and hitch installation services.  The ground-up development marks U-Haul’s entry into the Garland County market and is consistent with the company’s broader pattern of building integrated moving and storage facilities in mid-sized U.S. communities experiencing residential growth. Read the Full Article Source: businessWire

SecureSpace Self Storage has opened two adjacent facilities at 4 and 44 Research Place in Rockville, Maryland, now operating together as SecureSpace Rockville. The three-story buildings, built in 2016 and 2020, total 127,000 square feet across 1,454 climate-controlled units with a limited number of drive-up options. Renovations, including AI-enabled security upgrades, are in progress. The entry into Rockville adds to SecureSpace’s footprint in the Washington, DC metro, a high-income suburban market where demand for institutional-quality storage remains steady. Read the Full Article Source: The Mocoshow

The Ardent Companies and Ironwood Development Partners have opened a three-story, 913-unit self-storage facility at 153 Hamlet Ave. in Woonsocket, Rhode Island. The 80,000-square-foot property was built on a formerly vacant brownfield remediated through a state environmental program and will be managed by Extra Space Storage. The project marks Ardent’s first Rhode Island development and the 10th asset delivered through its Self-Storage Development Fund II. The deal is a notable example of self-storage development being used to return contaminated urban sites to productive commercial use. Read the Full Article Source:…

Storage Authority Carolina Road has opened the first two of eight planned buildings at its new facility in Suffolk, Virginia, and has begun leasing units. The 8-acre site includes climate-controlled and drive-up units along with 29 RV parking spaces, with the remaining buildings expected to be complete within roughly three months. The project operates under the Storage Authority franchise model. The phased opening reflects a development strategy increasingly common among smaller operators, where early buildings are leased while construction on the broader site continues. Read the Full Article Source: Franchising.com

Talonvest Capital arranged a $45 million senior bridge loan to refinance a self-storage property owned by 1784 Holdings in Goleta, California. The facility totals 95,523 net rentable square feet across 972 climate-controlled units and is operated by Extra Space Storage. The loan carries a three-year initial term with two one-year extension options. The deal adds to a pattern of bridge financing activity in California coastal markets, where well-located, institutionally managed assets continue to draw lender interest. Read the Full Article Source: RE Business Online

Pack N Stor, previously operating as Stack N Stor, has opened its fourth location at 98 Boston Post Road in West Haven, Connecticut. The opening was marked by a ribbon-cutting with the Milford Regional Chamber of Commerce and coincides with a company-wide rebrand. Additional locations are planned as part of continued expansion. The West Haven facility is a representative example of small regional self-storage operators pursuing multi-site growth alongside brand repositioning in the competitive Connecticut market. Read the Full Article Source: Patch