Jumbo Under Construction in Boston Suburb

Jumbo Self Storage plans a six-story facility at 1901 Revere Beach Pkwy in Everett, Massachusetts.

Connolly Brothers, a general construction contractor, has partnered with Jumbo Capital Management, LLC, to construct the 130,000-square-foot building. The facility will include over 1,200 climate-controlled units.

The project required demolition of an existing machine shop built in the early 1990s on the 1.3-acre urban site.

Jumbo Capital Management, LLC, was founded in 2009, and invests in commercial real estate.

Georgia Grocer Will Convert to Storage

A former grocery store in Sycamore, Georgia, has gained City Council approval to be repurposed into self storage.

Doug Olson, president of KEEP Rentals, will invest about $2 million to convert the former Brown’s County Market store into storage and two other 1,500-square-foot stores. Improvements will include a new roof, painting the exterior and restriping the parking lot.

A special use permit required for the project received unanimous support from the city council. Sycamore is south of Macon, Ga.

U-Haul Builds in Staten Island

U-Haul is building a seven-story moving and self storage facility in Port Richmond, Staten Island, New York.

The storage facility will be built on a 9.36-acre parcel of land at 2111 Richmond Terrace. The site formerly housed an Atlantic Express headquarters and a few auto body shops.

The facility, which has yet to be designed, is expected to deliver in 2020. U-Haul is already operating in a building on the site.

Ziff Properties Plans Tennessee Conversion

Ziff Properties Inc. has acquired the former U.S. Golf & Tennis Center in Farragut, Tennessee, and plans to convert the building into a 65,000-square-foot self storage facility.

The building is located on six acres, roughly 17 miles west of Knoxville. Extra Space Storage will manage the facility, which will include climate and non-climate-controlled units.

Based in Mount Pleasant, South Carolina, Ziff Properties is an entrepreneurial real estate firm focused on the development, acquisition and ownership of shopping centers, office buildings, flex centers, light industrial and self storage properties.

Liberty Invests in Tampa Storage Market

Liberty Investment Properties has opened a new self storage facility on Cypress Road in Tampa, Florida.

The three-story facility includes 550 climate-controlled units in Tampa’s Westshore District. It is managed by Extra Space.

Lock Up Opens Largest Facility Yet

The Lock Up Self Storage has opened a new facility at 3705 N. Lincoln Avenue in Chicago.

The new Lakeview Self Storage location is the largest of all the Lock Up locations nationwide with two separate buildings totaling 112,700 square feet and 1,400 climate-controlled units. Lock Up transformed a former factory into storage.

Lock Up Self Storage is a family-owned business that has been in the storage industry since 1976. The company owns and manages more than 1.6 million square feet of storage.

Midway Sells in Augusta

Marcus & Millichap advised on the sale of Midway Storage and Rentals, a 21,664-NRSF self storage facility located in Augusta, Georgia.

Michael A. Mele and Brian Fulton, investment specialists in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. They also represented the buyer, a private investor. Michael J. Fasano, Broker and Regional Manager, assisted in closing this transaction.

Midway Storage and Rentals is located at 1735 Barton Chapel Road in Augusta and includes 175 units.

Schwartz Honored Among Entrepreneurs

SmartStop Asset Management CEO H. Michael Schwartz has been selected as a semifinalist for the EY Entrepreneur of the Year 2018 Orange County Region Award. Winners of the award will be announced in June.

“I am honored to be selected as a semifinalist for the prestigious and competitive Entrepreneur of the Year awards program, amongst so many game-changing professionals who are breaking the mold,” Schwartz said.

SmartStop is a diversified real estate company with 114 self storage facilities throughout the United States and Canada.

TD Makes Plans Near Atlanta

TD Storage has proposed a five-story self storage building on Buford Highway in the Brookhaven community north of Atlanta.

The building would be 83,800 square feet on slightly more than one acre at 2991 Buford Highway. The planning commission will vote in early May. TD Storage has 10 locations in the southeast.

NKF Sells Facility Near Boston

NKF Capital Markets Self Storage Group completed the sale of Stor-U-Self in Peabody, Massachusetts. The 39,600-square-foot facility includes 488 units. It’s a three-story building on 1.6 acres.

NKF Capital Markets professionals Aaron Swerdlin, Kenneth Cox and Geoffrey Millerd represented the seller. The buyer was a private equity group.  

NKF Capital Markets is based in Houston, Texas, and has completed $6 billion in transactions across 540 properties.

Raleigh Leading Way on Storage Development

The Raleigh, North Carolina, metro area will see a 23 percent increase in self storage supply, according to STR Inc., a research and analytics firm in Hendersonville, TN. That growth rate puts Raleigh first among the 50 largest metro areas for projects, a one-year rise in self storage supply.

The firm’s latest report indicates 1.9 million net rentable square feet will come online from February 2018 through January 2019.

In Raleigh there are currently 13 new projects under construction, 12 expansions of existing facilities underway, and four new projects in the final planning stages. Another 19 projects are on the drawing board.