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NEWS ROUNDUP

DISPOSITION: Mill Creek Self Storage Owner LP sells self-storage facility in Mill Creek, WA for $23M. The property at 17811 Bothell Everett Highway was acquired by the seller for approximately $26.2M in 2021 and was formerly branded as an Extra Space Storage facility.

DEVELOPMENT: NAN Realty Holdings receives approval for 85,740 SF self-storage facility in Somerville, NJ. The five-story facility at 79 Route 206 was approved by the Zoning Board of Adjustment in a 5-2 vote following concerns over flooding, scale, neighborhood impact, and visibility. Jason Tuvel represented NAN Realty, with design revisions including increased landscaping, improved site circulation and elevated first-floor storage areas. Mike Prothero was among local residents who spoke against the project.

ACQUISITION: STORExpress acquires 168,000 SF self-storage facility in Youngstown, OH for $1.48M. The nearly 100-year-old facility on North Avenue is currently operating and will be renovated into a state-of-the-art drive-thru storage facility, with improvements expected to be completed by spring 2027. Steve Mitnick, owner of STORExpress, led the acquisition.

DEVELOPMENT: SecureSpace opens 72,625 SF self-storage facility in Seattle, WA. The four-story, Class A facility at 5890 South 129th Street features 822 climate-controlled units and is being upgraded with a contemporary leasing office, AI-enabled security cameras and sensors, and high-speed Wi-Fi. The opening expands SecureSpace’s presence in Seattle’s south end, adding to its nearby Tukwila and Beacon Hill locations.