JSM Venture Set to Open Downtown Chicago Self Storage Facility

From: Self Storage Promotions
Published: Fri Mar 23 2007

JSM Venture LLC is preparing to open another next-generation self-storage facility in Chicago. Located on the 6300 block of North Broadway next to Loyola University, Broadway Storage will open to the public this spring. The new facility offers both traditional self-storage and wine storage.

Broadway Storage is being converted from a records storage facility to a multi-story climate-controlled self-storage facility on a 1/2-acre site. The six-story, 90,000 square-foot facility offers visual appeal that compliments the feel of the neighborhood. A terra cotta exterior façade invites customers to take a closer look at the redeveloped property. Once inside, customers are welcomed by a 6,000-square-foot interior courtyard-style parking lot for convenient, secure entry and loading.

“Broadway Storage offered an attractive redevelopment opportunity because of its prime location near Loyola,” said John Mengel, principle of JSM Venture, LLC, a Chicago-based self-storage development firm that builds Class-A facilities in high growth markets. “Our customers will appreciate the total transformation and the many amenities we are offering to make their storage experience as convenient as possible.”

Beyond the courtyard-style parking lot, Broadway Storage offers 100 feet of frontage on North Broadway to make it easy for moving trucks and cars to access the property. The facility also features a new automatic freight elevator, a new and upgraded electric service, HVAC, sprinkler system, refurbished office, and a covered, heated dock loading area. Broadway will offer state-of-the-art security that is part and parcel of JSM Venture properties, including surveillance cameras, DVRs and units with individual door alarms.

Broadway Storage is poised for rapid expansion, with Loyola University planning a $400 million mixed-use project just one block north of the JSM’s latest venture. The mixed-use development includes a dense row of apartments and high-rise condominiums along the Sheridan Road lake front three blocks away.

JSM Venture selected Metro Self Storage, a Lake Bluff, Ill.-based self-storage management firm that represents clients in Florida, Georgia and Illinois, to manage the new facility.

“We are excited to expand our property management relationship with JSM Venture with its newest self storage development,” said Brian D. Blankenship, Executive Vice President, Metro Storage LLC. “John Mengel understands the role of strong property management in the success of a facility. We're excited about managing the new facility, which is sure to be one of the stars of our portfolio.”

JSM also operates McCook Self Storage, a former metal manufacturing facility site in McCook, Ill. and is nearing completion on Country Club Hills Storage in Country Club Hills. JSM recently partnered with Matrix Capital Advisors to form Matrix Midwest Self Storage LLC, a $10 million real estate equity fund organized to develop and operate institutional quality self storage properties in the greater Chicago and Milwaukee metropolitan markets.

Headquartered in Chicago, Ill., JSM Venture LLC is a self-storage development firm that builds Class-A facilities in high growth markets. John S. Mengel founded the venture in 2004 and has been actively developing properties in the Chicago metropolitan area. Mengel has a proven track record in the storage industry. Prior to launching JSM Venture, Mengel co-owned Chicago Data, a Chicago-based record storage company that was sold to Iron Mountain Corporation. Mengel developed several successful storage facilities during his tenure at Chicago Data. JSM intends to develop five to seven next-generation, institutional quality multi-story facilities over the next two to three years.

Company: Self Storage Promotions
Contact Name: Jennifer LeClaire
Contact Email: jennifer@selfstoragepromotions.com
Contact Phone: 954.454.0072

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