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An Update to Current Development, Expansions & Acquisitions

Jul 06, 2015

The following information has been gleaned from various sources and is not intended to be a comprehensive list of all developments, expansions, and acquisitions within Texas.  We can only provide information that is made available to us.  If you would like to have your project included, please send information and photos (if available) to TSSA.

LifeStorage an owner, acquirer and operator of self-storage facilities announced that it has secured a new $300MM Acquisition Facility & Term Loan from a consortium led by Citigroup Global Markets Inc. (“Citi”) and BMO Capital Markets Corp. (“BMO”) together as Joint Lead Arranger, with participation from Raymond James Bank.  LifeStorage will use the $300MM financing to support its growth strategy of acquiring premier properties in the top 50 markets across the U.S.  In October 2014, TPG Real Estate (“TPG”), the real estate platform of TPG, a leading global private investment firm invested $120MM in LifeStorage.  Founded in 2011, LifeStorage is headquartered in Roseville, CA. The company currently owns, has under purchase agreement and operates 73 properties in 9 states across the U.S. as of August 15, 2014.

Brad Tidwell received approval of a specific use permit for a self-storage facility near the corner of Miles Avenue and Southwest Wilshire Boulevard in Burleson. The proposed 30-foot-tall facility would be more than 100,000 sq. ft. and allow users to drive into the facility to unload items for storage, making it different from anything the city already has.

Rocket Self Storage in Converse received approval from the City Council for a zoning change to allow for future expansion at its FM 78 property, which it has operated for the past 16 years. The Fields of Dover Homeowners Association currently owns the parcel of land but intends to sell it to Rocket Self Storage following the zoning change.

Storage Max LLC is building a $1.05 million 23,975 square-foot storage facility at 4911 Old Jacksonville Hwy in Tyler.

Public Storage will open at 1501 Louis Henna Blvd. in Round Rock in late 2015. Public Storage has 2,200 locations in the U.S. and Europe.

In May, Joe and Vicki Lindsey, opened Tall Pines at Lake Conroe, just north of The Woodlands in Conroe.  

We previously reported on the new Love’s Self Storage facility in Sweetwater.  A second Love’s Self Storage location recently opened in El Paso in the 1300 block of Horizon Blvd.

Oso Mini Storage and Action Mini Storage, both in Corpus Christi, are undertaking major expansion and renovation projects. 

Scott and Kathy Tautenhahn announced that Amazing Spaces® Storage Centers has officially closed on another property location on Holzwarth and Spring Stuebner in Spring, Texas. This new 98,000 (approx.) square foot location will be opening only 0.7 miles from the new Exxon Campus and just south of The Woodlands. This location marks the 2nd new location Amazing Spaces will open in 2016 and will be the 6th addition to the company’s storage properties. Construction on the new property is set to begin in early 2016, with an anticipated opening date in fall of 2016.  The new building will be built according to green-friendly building standards and serve as an official Green Spot Drop Off, offering complementary electronic recycling solutions.