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DEVELOPMENT: Westport Properties completes a 183,000 SF self-storage facility at 529 Cutter Way in Covina, California. The new property offers approximately 1,400 climate-controlled storage units and features AI-powered security systems, 24/7 video surveillance, gated keypad access, and motion-sensor lighting. The facility is managed under the US Storage Centers brand. Charles Byerly highlighted the completion as part of Westport Properties' continued growth, with its US Storage Centers platform now managing more than 15.4 million SF of self-storage nationwide.

EXPANSION: Storelocal Storage expands its national network with four new and newly acquired facilities across Texas, California, and Arizona. The expansion includes Storelocal Storage Irving in Irving, Texas; a Class A facility in Tesoro Viejo, Madera County, California; the renovated Storelocal Storage Cibolo in Cibolo, Texas; and a newly developed facility in Benson, Arizona. Together, the properties add climate-controlled storage, RV and boat parking, and technology-enabled amenities. Genevieve, Randel Mathias, Collin Gee, and Lindsey Barrett highlighted the expansion, while G4 Investors LLC and Storage IQC joined the Storelocal platform as new operating partners.

FINANCING: JLL arranges a $160M credit facility for Safely Store Self Storage to support the platform’s continued acquisition and development growth. The financing, provided by J.P. Morgan, is secured by an 11-property institutional-quality self-storage portfolio totaling more than 872,000 RSF across seven major U.S. metropolitan areas. The facility includes a $60M term loan and a $100M accordion feature for future acquisitions and development projects. Brian Somoza, John Bauman, Jordan Buck, and Shishir Reddy of JLL’s Capital Markets Debt Advisory team represented the borrower, while Tyler Colpini serves as CEO of Safely Store Self Storage.

DEVELOPMENT: West Coast Self-Storage opens West Coast Self-Storage Grand Mound in the Grand Mound area near Rochester, Washington. The new facility offers 478 storage units totaling 67,540 RSF, with heated indoor and drive-up units, advanced security, touchless gate access, and mobile account management. The property is owned by WCSS Grand Mound LLC, developed by Drew Bowlds, designed by Stephen Bourne of Site + Plan + Mix LLC, and built by Bowlds Development Company. Matthew Cook highlighted the opening as part of West Coast Self-Storage's continued expansion in the region. A grand opening celebration is scheduled for July 18.

30,000 SF Building | 7.57% Cap Rate | 95% Occupancy

9,592 SF Building | 49 Units | 6.01% Cap Rate

85,225 SF Building | 704 Units | Access to Hilo International Airport

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