News: Front Section
Posted: August 16, 2024
True Storage delivers 633,216 rentable s/f to market in first half of 2024
Manchester, NH True Storage, a New Hampshire based self-storage developer, is off to a strong start throughout the first half of 2024. The company has completed 9 developments across 5 states combining for a total of 633,216 rentable s/f delivered to market. The developer focuses on conversions of retail and industrial buildings as well as ground up self-storage Buildings across the country.
Throughout the first half of the year True Storage has completed projects in the following areas: Jacksonville, FL, Tonawanda, NY, Wilbraham, MA, Fitchburg, MA, Burton, MI, Syracuse, NY, Attleboro, MA, Woonsocket, RI, New Bedford, MA. Two of these developments were ground up builds and the remainder were conversions.
The deliveries through the first half of the year included conversions of a Gander Mountain sports, former charter school, Harley Davidson Dealership, Strip Mall, industrial warehouses, and 2 historic Mill buildings.
“All of our developments in 2024 have showcased our ability to transform properties across the country and transform communities we develop in” said Chris Lewis, director of architecture & design for True Storage.
Management of the new store openings have been handled by 3rd party managers, Cubesmart and Extra Space while True Storage retains ownership of the properties.
“Development activity is expected to keep pace for the company for another record-breaking year as we are evaluating new property opportunities every day” said Josh Sullivan, head of acquisitions and due diligence, and Ben Kfoury, investment analyst, from True Storage.
New deliveries to market over the first half of the year were consistent with the company’s growth since inception in 2020. True storage continues to have a pipeline of 12 projects under construction and various others in the acquisition pipeline.
True Storage, a self-storage developer that focuses on bringing value and lifestyle experiences to communities across the country, has developed several other Class A facilities in Massachusetts, New Hampshire, Maine, Georgia, Rhode Island, Florida, Indiana, Connecticut, Wisconsin, Illinois, New York, and Kentucky. In addition to breaking ground on facilities in Michigan, Ohio, New York, Florida, and throughout the New England area, with a dozen more in the pipeline.
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