Baranof Holdings Breaks Ground on 4 New Self-Storage Facilities
- May 30, 2016
Austin, Texas—Self-storage developer Baranof Holdings of Dallas has broken ground on four self-storage facilities spread across Texas, Oregon and North Carolina. Construction on all four properties is expected to be complete by the end of the year.
The company raised equity for the projects via a fund advised by Crow Holdings Capital-Real Estate, an asset manager of private-equity real estate funds. The company is sponsored by Memphis-based Value Acquisition Fund. All facilities will be managed by third-party REITs. The developments are:
- 620 Self-Storage at 11200 Ranch Road in the Northwest submarket of Austin, Texas. The facility will total 91,600 square feet of space displayed in 601 climate-controlled units. The property will also offer boat and RV storage;
- Walden Park Self-Storage at 12100 Ranch Road 620 in Austin’s Cedar Park, on the Northeast corner of Texas State Highway 45 and U.S. Route 183 interchange. The facility will encompass 101,645 square feet of space in 709 climate-controlled units;
- I-84 Self-Storage at 6006 NE. Holladay in Portland, Ore., near Interstate 84, at Northeast 60th. Roughly 115,438 square feet of space will be displayed in 868 climate-controlled units;
- 7901 Glenwood Avenue Self-Storage at 7901 Glenwood Ave. in Raleigh, N.C., along Route 70. This facility will consist of 70,104 square feet of climate-controlled space in 452 units.
Additionally, Baranof Holdings has another four projects in the wings in Portland, Ore., Raleigh, N.C., Seattle and Vancouver, Wash., with start dates set for the third quarter of 2016.
Images courtesy of Baranof Holdings