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Self-Storage Development and Zoning Activity: February 2021

Update 2/25/21 – The global self-storage development pipeline continues to be extremely dynamic.
Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is additional activity taking place in February 2021.
Self-storage owners
Carey and
Jim Abraham are renovating and expanding Howell Storage in Marion Township, Mich. The married couple acquired the former McGowan Mini Storage property at 1650 Pinckney Road last summer. In addition to capital improvements, they intend to add 50 to 70 units. Depending on township approvals, the project could be complete this fall. Built in the 1980s, the facility comprises 300 units. The Abrahams also own Abe’s Storage in Holly, Mich., and Abe’s Storage North in Grand Blanc, Mich. ....

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The self-storage story: Little glamour, but steady returns drive the market

When Falmouth native Mike Pride retired from the merchant marine after 21 years, he began his “chapter two” by investing in commercial real estate.
Several years ago, F.O. Bailey Real Estate broker Thomas Gadbois introduced him to the self-storage sector, showing him a facility at 226 Gorham Road in Scarborough and another at 14 Tory Hill Drive in Buxton.
“I thought, “It’s a business but not a lot of employees, so I can run it myself,’” Pride recalls.
Pride bought the properties with a bit of skepticism.
“I’m thinking, ‘Who puts their stuff in storage?’” he says.
After fixing them up and doing some marketing, he soon had the answer plenty of folks. Now Pride is building a third facility 550 units across 10 buildings at the Innovation District at the Downs in Scarborough. Since he got into the business, he found the clientele is diverse and, apparently, never-ending. Customers include small business owners who rent units to store th ....

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