SC Developer Brings Extra Space to Charlottesville

A new Extra Space Storage facility has opened in Charlottesville, Virginia, offering climate-controlled storage and temperature and humidity-controlled wine storage.

South Carolina-based Hydraulic Road Storage, LLC, developed the three-story property with more than 600 units. The wine storage lockers are wooden and include a back-up generator and keypad security. The $7.5 million building brings wine storage to the area.

“We offer our clients peace of mind that this is the best solution for their different storage needs,” says Bill Theus, part owner of Hydraulic Road Storage LLC.

Compass Buys 76^th Storage Facility

Compass Self Storage has purchased a self storage center in Snellville, Georgia, a suburb of Atlanta, marking its 11^th facility in the area and 76^th facility overall.

Compass, a member of the Amsdell family of companies, continues to acquire storage facilities, with three acquisitions completed in November. This facility has 58,000 NRSF. Planned upgrades include an expansion and remodel of the rental office, upgraded security and individual access control.

The Amsdell family of companies is headquartered in Cleveland, Ohio. Amsdell has owned and operated over 500 storage centers in 27 states.

Jernigan Capital Partners in Minnesota and New Hampshire

Jernigan Capital, Inc. has closed two investments in self storage in Minnesota and New Hampshire.

In St. Paul, Minnesota, Jernigan has invested $12.6 million in a proposed all-climate-controlled self storage project that is a five-story building with approximately 88,838 NRSF. The project will be located on University Avenue West. Construction is expected to begin in the second quarter of 2018 and to be completed in the second quarter of 2019. Cascade Storage Partners, LLC, based in Charlotte, North Carolina, is the developer of the proposed project. This will be the sixth development project in which Jernigan and Cascade, or its affiliates, including Pamlico Investments, Inc., have invested.

In New Hampshire, Jernigan has closed an $8.7 million investment in a proposed multi-story, climate-controlled 719-unit facility in Salem. The proposed 74,625 NRSF facility will be a ground-up, three-story project located at 10 Hampshire Road. Construction is expected to begin in early 2018 and be completed in at the end of the year. The developer is 603 Storage, headquartered in Northwood, New Hampshire. This is the first project on which 603 Storage and Jernigan have co-invested.

Jernigan Capital, Inc. is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self storage facilities.

SkyView Represents on COO Sale

SkyView Advisors represented the seller in the sale of Franklin Park Self Storage, a certificate of occupancy asset, to Compass Self Storage.

Franklin Park Self Storage in Pittsburgh, Pennsylvania, is a new facility completed in October 2017. The facility includes seven buildings with 51,488 NRSF on 5.64 acres. The property has 182 climate-controlled units and 340 non-climate-controlled units.

Tampa-based SkyView Advisors represents self storage operators in the sale of their self storage properties and provides debt and equity solutions. 

Marcus & Millichap Arranges Sales in Northwest and Ohio

Marcus & Millichap arranged the sale of a self storage facility in Federal Way, Washington, and coordinated the sale of the Stop-N-Stor portfolio, an eight-property portfolio in Oregon and Ohio.

The Stop-N-Stor portfolio includes eight properties totaling 3,050 units and 391,458 NRSF. The facilities are located in Lorain, Elyria, Cuyahoga Falls, and Northwood, Oregon, and Toledo and Stow, Ohio. The portfolio sold for $31.4 million.

The facility in Washington is Daffodil Storage, a 91,304-square-foot facility that sold for $16.35 million. The property was built in 1991 and renovated in 2016. The seller was a self storage limited liability company and the buyer was two families.

Colliers Assists in Sale of Two California Parcels

Colliers International National Self Storage Group has completed the sale of two parcels of land ready for self storage development.

In Lincoln, California, Colliers represented FollettUSA, a regional owner of self storage facilities based in Sacramento, who purchased the site from Lincoln Ranch, LLC., for $5 million. The property is an 11.9 acre parcel already entitled for up to 176,685 square feet of self storage and boat and RV storage units. The buyer plans to break ground in early 2018.

In San Jose, California, Colliers completed the sale of 1.55 acres for $3.74 million. The property is located at the intersection of Highways 680 and US 101. It is entitled for 115,000 square feet of storage. The buyer, Trojan Storage of Redondo Beach, will break ground in late 2018.

Strategic Storage Trust Buys in Texas City

Strategic Storage Trust IV, a public, non-traded REIT, has purchased a 480-unit self storage facility in Texas City, southeast of Houston. Built in 2010, the 8,000-square-foot facility is located on 10.5 acres. The property was 95 percent occupied at the time of the sale.

U-Haul Converts Mall to Storage

U-Haul will renovate a former JCPenney-anchored strip mall in Baraboo, Wisconsin, into a new U-Haul Moving & Storage location. The center is located on a 16.11 acre property. The shopping mall has been vacant for more than eight years. In November the company began offering truck rentals, moving supplies and portable containers out of a temporary showroom.

Plans call for indoor climate-controlled storage units available in early 2018. Repurposing the 175,078-square-foot facility helps the community lower its carbon footprint by reducing the amount of energy and resources required for new construction materials.

Florida Neighborhood Gets Storage

A new self storage facility is under construction in the Booklyn neighborhood of Jacksonville, Florida.

At the location of what was once Knauer’s Hardware, the Nuvo Company plans to build a 5-story, 91,700-square-foot storage facility on a .73-acre site on Myrtle Avenue. The project will have a stucco façade with decorative metal awnings.