LSC DEVELOPMENT is a fully integrated real estate operating company that focuses on the acquisition, development, and ownership of commercial and self storage properties.

History of LSC Development

1989
Facilitec, a leading kitchen exhaust cleaning and grease containment solutions company was founded by Chris Barry and Jean Jodoin
2001
Facilitec grew to 265 employees and 26 offices nationwide and was sold to Ecolab, Inc
2002
Chris Barry & Jean Jodoin cofounded LifeStorage, acquiring their first property in Hoffman Estates, IL
2005
Sold a portfolio of 6 properties, consisting of 3 in lease-up and 3 under construction to Simply Storage for $50 MM
2010
Won Self Storage Association conversion facility of the year for the State Street project
2012
Formed LifeStorage, LP a private self storage REIT. Won Self Storage Association conversion facility of the year for the Ohio Street project
2014
Texas Pacific Group (TPG) invests $120 MM in LifeStorage, LP, Citigroup provides a $100 MM revolving line of credit
2015
Citigroup, BMO Capital Markets Corp, and Raymond James Bank provide LifeStorage a $300 MM revolving line of credit
2016
Life Storage, LP is sold to Sovran Self Storage (NYSE: SSS) for $1.35 Billion. Sovran changes its corporate and store brand from Uncle Bob’s to Life Storage. LSC sells six properties in Chicago for $68 MM
2017
5 New York property portfolio sold to Extra Space Storage at certificate of occupancy for approximately $241 MM
2019
Began construction of the property in Hell’s Kitchen neighborhood of Manhattan. Opened 3 properties in NY and Chicago managed by Extra Space Storage and Public Storage
2020
During the Covid-19 pandemic:
  • Refinanced portfolio of Long Island, NY properties with $60 MM non-recourse loan with ARES Capital, extending the maturities by 4 years
  • Obtained $18 MM construction loan for a New York development project
  • Sold Wauconda property to Extra Space Storage
2021
Opened 2 self storage facilities in Flushing and Inwood, NY. Both are managed by Life Storage
1989
Facilitec, a leading kitchen exhaust cleaning and grease containment solutions company was founded by Chris Barry and Jean Jodoin
2001
Facilitec grew to 265 employees and 26 offices nationwide and was sold to Ecolab, Inc
2002
Chris Barry & Jean Jodoin cofounded LifeStorage, acquiring their first property in Hoffman Estates, IL
2005
Sold a portfolio of 6 properties, consisting of 3 in lease-up and 3 under construction to Simply Storage for $50 MM
2010
Won Self Storage Association conversion facility of the year for the State Street project
2012
Formed LifeStorage, LP a private self storage REIT. Won Self Storage Association conversion facility of the year for the Ohio Street project
2014
Texas Pacific Group (TPG) invests $120 MM in LifeStorage, LP, Citigroup provides a $100 MM revolving line of credit
2015
Citigroup, BMO Capital Markets Corp, and Raymond James Bank provide LifeStorage a $300 MM revolving line of credit
2016
Life Storage, LP is sold to Sovran Self Storage (NYSE: SSS) for $1.35 Billion. Sovran changes its corporate and store brand from Uncle Bob’s to Life Storage. LSC sells six properties in Chicago for $68 MM
2017
5 New York property portfolio sold to Extra Space Storage at certificate of occupancy for approximately $241 MM
2019
Began construction of the property in Hell’s Kitchen neighborhood of Manhattan. Opened 3 properties in NY and Chicago managed by Extra Space Storage and Public Storage
2020
During the Covid-19 pandemic:
  • Refinanced portfolio of Long Island, NY properties with $60 MM non-recourse loan with ARES Capital, extending the maturities by 4 years
  • Obtained $18 MM construction loan for a New York development project
  • Sold Wauconda property to Extra Space Storage
2021
Opened 2 self storage facilities in Flushing and Inwood, NY. Both are managed by Life Storage
1989
Facilitec, a leading kitchen exhaust cleaning and grease containment solutions company was founded by Chris Barry and Jean Jodoin
1989
2001
Facilitec grew to 265 employees and 26 offices nationwide and was sold to Ecolab, Inc.
2001
2002
Chris Barry & Jean Jodoin cofounded LifeStorage, acquiring their first property in Hoffman Estates, IL
2002
2005
Sold a portfolio of 6 properties, consisting of 3 in lease-up and 3 under construction to Simply Storage for $50 MM
2005
2010
Won Self Storage Association conversion facility of the year for the State Street project
2010
2012
Formed LifeStorage, LP a private self storage REIT. Won Self Storage Association conversion facility of the year for the Ohio Street project
2012
2014
Texas Pacific Group (TPG) invests $120 MM in LifeStorage, LP, Citigroup provides a $100 MM revolving line of credit
2014
2015
Citigroup, BMO Capital Markets Corp, and Raymond James Bank provide LifeStorage a $300 MM revolving line of credit
2015
2016
Life Storage, LP is sold to Sovran Self Storage (NYSE: SSS) for $1.35 Billion. Sovran changes its corporate and store brand from Uncle Bob’s to Life Storage. LSC sells six properties in Chicago for $68 MM
2016
2017
5 New York property portfolio sold to Extra Space Storage at certificate of occupancy for approximately $241 MM
2017
2019
Began construction of the property in Hell’s Kitchen neighborhood of Manhattan. Opened 3 properties in NY and Chicago managed by Extra Space Storage and Public Storage
2019
2020
During the Covid-19 pandemic:
  • Refinanced portfolio of Long Island, NY properties with $60 MM non-recourse loan with ARES Capital, extending the maturities by 4 years
  • Obtained $18 MM construction loan for a New York development project
  • Sold Wauconda property to Extra Space Storage
2020
2021
Opened 2 self storage facilities in Flushing and Inwood, NY. Both are managed by Life Storage
2021

Meet Our Team

Christopher S. Barry

Christopher Barry is the Co-Founder and a Partner of LSC Development, LLC and is responsible for setting the strategic direction for LSC Development, he is actively involved in acquisitions, developments, dispositions and management. He founded Life Storage in 2002 together with Jean Jodoin. Previously, Chris was a Co-Founder and Partner at Facilitec, LLC, a professional restaurant service company focused on kitchen exhaust cleaning and grease containment solutions and invented the “Grease Guard”, which prevented grease buildup on restaurant roofing systems. He cofounded Facilitec with Jean Jodoin and two other partners and after 13 years sold the company to Ecolab, Inc. out of St. Paul Minnesota. Chris graduated from Eastern Illinois University with a Bachelor of Science in Business Administration with majors in Business, Management, Marketing and Related Support Services.

Jean L. Jodoin

Jean Jodoin is the Co-Founder and a Partner of LSC Development, LLC. Jean is responsible for setting the strategic direction for LSC Development he is actively involved in acquisitions, developments, dispositions and management. He founded Life Storage in 2002 together with Chris Barry. Previously, Jean was a Co-Founder and Partner at Facilitec, LLC, a professional restaurant service company focused on kitchen exhaust cleaning and grease containment solutions and invented the “Grease Guard”, which prevented grease buildup on restaurant roofing systems. He cofounded Facilitec with Chris Barry and two other partners and after 13 years sold the company to Ecolab, Inc. out of St. Paul Minnesota. Jean received a Bachelor of Science in Business Administration with majors in Marketing and Management from Eastern Illinois University.

John R. Nikolich

John Nikolich is the Chief Operating Officer at LSC Development. Prior to joining LSC Development, John was Executive Vice President at Banner Apartments, LLC, where he established their multifamily development initiative and created and operated Banner Storage Group. Prior to Banner, John founded Flint Creek Partners, a boutique real estate investment bank. John has over 25 years of experience in the real estate industry and has raised more than $6 billion for real estate companies. He began his real estate career at LaSalle Investment Management (formerly LaSalle Partners) and then joined the Real Estate Investment Banking group at First Union Securities (formerly EVEREN Securities). John began his career at Accenture and received a Master of Business Administration degree in Finance & Marketing from the Booth School of Business at The University of Chicago and a Bachelor of Arts degree in Economics from Northwestern University.

Paul Bergin

Paul Bergin is the Executive Vice President of Construction for LSC Development/Cobalt Commercial Construction and responsible for all LSC’s/Cobalt Construction’s development efforts. He has an extensive development background having developed over 5 million square feet over his career. Prior to joining LSC, Paul was a Project Director Manager for Novak Construction, Inc. for 16 years. Paul was also a Director with Capitol Construction Corporation for 14 years. Paul received a Bachelor of Science in Architecture from Western/Interior Architecture from Harrington.

Mario Estevez

Mario Estevez is the Controller at LSC Development. Prior to joining LSC Development, Mario was the CFO/Controller at American Heritage Investment / Group Fox Inc. where he oversaw a 107% increase in revenue and 125% increase in the asset base during a 3-year period and successfully restructured debt and established credit terms to increase cash flows and improve NOI while also managing the company’s budget, preparing monthly financial statements and assisting with due diligence of retail/office tenants and acquisitions. Prior to American Heritage Investment / Group Fox Inc., Mario worked with a number of private equity firms as a Controller with their portfolio companies. He began his real estate career at Vornado Realty Trust as a member of their accounting team. Mario received a Bachelor of Science degree in Accounting from Northeastern Illinois University and is also a licensed CPA.

Brian Sheahan

Brian Sheahan is the Director of Asset Management at LSC Development. Prior to joining LSC, Brian was the Director of Commercial Real Estate for Group Fox, Inc., one of Chicago’s largest privately held landlords. During his 13+ year tenure at Group Fox, he was responsible for leasing and management of a 400,000 sq. ft. mixed use commercial portfolio throughout the Chicagoland area. Brian was responsible for commercial budgeting, operating expense reconciliation and acted as a project manager for all commercial-related construction projects. He holds a degree in business management from the University of Notre Dame and is a member of the Lurie Children’s Innovators program.

News & Press

02/19/2021 -
Partnership Opens Long Island Life Storage
LSC Development in partnership with Amenity Self-Storage Holdings has opened a new self storage facility in Nassau County, New York. The facility will be managed by Life Storage, Inc.
12/15/2020 -
LSC Development Lands $60M Refi for New York Storage Assets
LSC Development has taken out a $59.5 million refinancing package for a three-property self storage portfolio encompassing approximately 311,823 square feet in Hewlett, Garden City and Oceanside, N.Y.
07/18/2016 -
Sovran/Uncle Bob's Self Storage Acquires LifeStorage for $1.3B, Commences Corporate Rebranding
Sovran has completed its acquisition of LifeStorage. The purchase was funded primarily with the proceeds from an offering of 6.9 million shares of common stock and the sale of $600 million in 10-year notes with an interest rate of 3.5 percent.