News

  • Amsdell/Compass Self Storage Opens Conversion Project in River Grove, IL
    The Amsdell family of companies recently converted the former Fort Lock Corp. property in River Grove, Ill., which has been vacant since 2006, into a 90,000-square-foot storage facility. The 3.5-acre property at 3000 River Road opened this week and will be operated by Compass Self Storage LLC.

  • Dash’s Markets Plan to Convert Former Grocery Store to Self-Storage Rejected in Buffalo, NY
    Update 4/24/15 – The Buffalo Zoning Board of Appeals unanimously rejected the Dash’s Markets proposal to convert one of its former grocery stores into self-storage. Board members voted 3-0 against the plan in an effort to preserve the retail-commercial environment in that portion of the neighborhood, according to the source.

  • World Class Capital Group Buys 4 Self-Storage Properties in IL, NY
    Real estate investment firm World Class Capital Group LLC (WCCG) recently purchased two separate self-storage portfolios containing two properties each in Illinois and New York. The facilities will be rebranded and managed by Great Value Storage, the firm’s storage-management platform.

  • South Florida needs more self-storage space, commercial real estate broker says
    The late George Carlin famously kvetched about needing a place for his stuff. Self-storage developers in South Florida haven’t heeded his call, according to a new report from commercial real estate brokerage Marcus & Millichap.

    “Nationwide, self-storage supply is estimated at 8.3 square feet per capita,” the company says. “The self-storage supply in the Miami-Fort Lauderdale-West Palm Beach MSA is well-below the national average at 5.2 square feet per capita. It also falls well below the state average of 9.4 square feet per capita.”

    At least one developer sees opportunity, though. Elite Stor last year paid $750,000 for a former mattress warehouse at 1016 Clare Ave. in West Palm Beach. It says its 20,000-square-foot, high-tech storage facility opens this month.
  • Valet Self-Storage Startup DBox Launches in Vancouver, Canada
    DBox Storage Inc., a startup business specializing in valet self-storage services, recently launched in Vancouver, British Columbia, Canada. The company uses an online platform that allows customers to schedule free item pickup, maintain an image catalog of belongings, and schedule delivery of items to their home.