With one facility completely occupied, self-storage operator Ken Waddell is developing a second facility in Greeley, CO.
Waddell is converting an old 84 Lumber location (pictured above) into a storage facility. The first phase consists of 32,000 square feet of rentable space; he plans to ultimately develop about 100,000 square feet at the 7-acre site. Waddell said final development costs are earmarked at a little more than $3 million.
The facility, at 2450 W. 29th St., is scheduled to open in a few months.
Waddell said he wanted to develop the second facility because his current one is full, as are other facilities in Greeley. According to the Greeley Tribune, several local storage facilities are fully leased, and many of them have waiting lists.
“We went looking for a site and didn’t have to look very far — I’ve been driving by it all these years,” Waddell said.
Waddell bought the site last July; it had been vacant since 2008. He expects to start work on the second phase in early 2015.
“There is pent-up demand right now,” Waddell said. “Once we open, we’ll take the initial demand right way.”
The facility will feature drive-through access, individual door alarms and an on-site manager.
Waddell bought his first storage facility in Greeley — American Self-Serv Storage at 2858 31st Ave. — in the 1980s from a failed savings and loan. He also owns a facility in Alberta, Canada, where he lives.
Greeley, home to the University of North Colorado, is about 50 miles northeast of Denver.
Retail conversion in Indiana
A Florida developer plans to convert a former retail store in South Bend, IN, into a self-storage facility. The property was sold at a bank auction in January 2013, according to Loopnet.
The property most recently was a Steve & Barry’s clothing store and earlier was a Target retail store.
The local zoning commission has unanimously recommended a proposed rezoning and special use exception for the property, which is at 605 N. Hickory St. The project awaits approval by the South Bend Common Council, according to the South Bend Tribune.
Ground-up development near Springfield, MA
J.R. Clisham and Ron Clisham, owners of CT Self-Stor, are developing a 77,300-square-foot storage facility at 2350 Boston Road in Wilbraham, MA. Their company, Baystate Self-Stor Wilbraham, bought the 10-acre parcel in October for $725,000.
The facility is expected to open in June, according to Business West. Wilbraham is a suburb of Springfield, MA.
CT Self-Stor operates nine other facilities: eight in Connecticut and one in Massachusetts. The company’s facility in Massachusetts goes by the name Stor & Go Self-Storage.
Florida company buys site
Lakewood Ranch Xpress Storage, owned by the managing partner of Sarasota, FL-based Hide-Away Storage, bought a 3-acre parcel at 10415 Portal Crossing in East Manatee, FL, for $1.4 million, according to the Bradenton Herald. A storage facility likely will be built on the land.
Sarasota, FL-based Hide-Away Storage operates 12 storage facilities in southwest Florida, according to its website.