Category: Development News

Centerbridge Partners, L.P. (“Centerbridge”) and Reframe Holdings LLC (“Reframe”) today announced the formation of a programmatic joint venture. Including leverage, the venture will be positioned to aggregate and own over $500 million of self-storage facilities across the United States. The partnership will focus on acquiring existing Class A and institutional-quality Class B facilities in top metropolitan statistical areas (MSAs) nationwide, utilizing leading third-party property managers to oversee operations. The platform combines Centerbridge’s deep experience and track record in self-storage with Reframe’s principals’ experience in acquisitions, development, and management of self-storage…

Inland Real Estate Investment Corporation and Devon Self Storage have completed construction of an approximate 85,330-square-foot Class-A self-storage facility located in Fraser, Michigan. Located at 31475 Utica Road in Fraser, approximately 15 miles northeast of downtown Detroit, the property formerly served as a light industrial facility originally built in 1975. The property now consists of a two-story climate-controlled building, along with various exterior non-climate-controlled buildings, offering a total of approximately 750 storage units, a 24-hour security system and a drive-in area providing access to the main interior storage area. “Surrounded…

Middletown Self Storage will host a ribbon-cutting ceremony for its newest location at 101 Valley Road on Monday, Oct. 27, at noon. The event, held in partnership with the Newport Chamber of Commerce, will feature facility tours, light refreshments and giveaways. The company is offering first month free to all new customers who rent a unit on the day of the ribbon cutting, with the promotion applying to rentals with a minimum lease period across various unit sizes. “We are excited to continue our growth here on Aquidneck Island,” said…

At its Oct. 20 meeting, the Blaine City Council approved both a rezoning request and a conditional use permit for a proposed self-storage development at Central Avenue in the Community Commercial/Highway 65 Overlay district. The property owner, Farmers Insurance agent Scott Uram, requested the approvals for a three-story self-storage and retail facility. The rezoning from R-1 (Single-Family Residential) to B-2 (Community Commercial) passed 6–1, with Council Member Tom Newland voting no. The conditional use permit passed 5–2, with Newland and Council Member Jess Robertson opposed. Interim Community Development Director Sheila…

A part of the former Simon and Schuster building on Radcliffe Street in Bristol Borough could become a self-storage facility. Matt McHugh, the attorney for River Group Equities, outlined the concept for the 2207 Radcliffe Street property for Bristol Borough Council last week. The proposal focuses on a section of the 600,000-square-foot warehouse that is situated across from the Radcliffe Court townhomes. The former Simon & Schuster building sits on a 23-acre parcel in what was once a busy industrial area. The project would include 56,000 square feet of indoor…

Great American Self Storage is proud to announce the grand opening of its newest location at 40 Pulehu Pl, Kahului, HI, 96732. This state-of-the-art facility marks the company’s second location in Hawaii, following the success of its Kona site, which was awarded Best of West Hawaii, yet again for 2025. The Kahului facility offers a wide range of storage solutions designed to meet the needs of residents, businesses, and travelers. Features include commercial and drive-up units, air-conditioned spaces, wide turning radii for large vehicles, double-door access, luggage storage, private mailboxes…

A project proposed for a site in Santa Fe’s midtown area along Cerrillos Road has seen a major overhaul under new developers, swapping in a self-storage facility for a four-story apartment complex that had drawn neighbors’ complaints earlier this year. Still, residents raised a few concerns about the more than 100,000-square-foot Empire Cerrillos Road Redevelopment at a neighborhood meeting earlier this month: Would it contribute to gentrification of the area and how it might affect locally owned self-storage businesses? The project will be the subject of a second virtual early…

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…

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…