The Roll Up: Vacant office slated for self-storage conversion purchased

Bruce Goldberg
February 21, 2024

A Winston-Salem, NC group has purchased the former Inmar headquarters building off Coliseum Drive for $3.06 million, easing the way for the vacant office building to become a self-storage center with residential housing nearby. The property is at 2650 Pilgrim Court and has 108,000 square feet of space. Pilgrim Acquisition is the buyer and Pilgrim Associates II, also of Winston-Salem, is the seller. A rezoning covered about 11 acres on the south side of Coliseum Drive and stretching to 25th Street.

Source: Winston-Salem Journal

Planned

Two Hundred Five Monroe Turnpike LLC wants to build a four-floor self-storage facility of 100,000 square feet in the back of Town Line Plaza at 205 Monroe Turnpike in Monroe, CT. It would take the place of a planned four-story medical building. The Inland Wetlands Commission set a hearing date of March 13 to discuss a wetlands permit. The proposal would mean a net decrease of 0.2 acres of disturbance for the project. The site would have 21 parking spaces and could share other spaces with a grocery store. Source: The Monroe Sun

In Pennsylvania, the Lawrence County Planning Commission is concerned about zoning variances for a planned self-storage site in New Castle. Asset Realty and Construction Group has presented plans to build a 119,050-square-foot facility at 306-310 Grove St., site of the former Lockley Manufacturing building in the C-1 General Business District. The storage facility would be climate-controlled and cost $10 million to $20 million, which would be privately funded. The site would have 800 to 1,000 units. Source: New Castle News

U-Haul purchased an 11-acre construction site in Ingram Park of San Antonio, TX, to build a three-story building with 750 climate-controlled units. It is scheduled to open in 2026. The facility will go up at 7616 N.W. Loop 410, which is 13 miles from downtown San Antonio. Source: Connect CRE

U-Haul is coming to Rapid City, SD following the purchase of 7.5 acres on East Summer Road. Now called U-Haul Moving & Storage Blvd., it is expected to open in early 2025. It will have a three-story building with more than 80,000 square feet and at least 900 indoor, ADA-accessible rooms. Plans also show a separate warehouse for portable moving containers. Source: Financial Times 

Completed

U-Haul of Apache Junction, a three-story building with 900 self-storage units at 3395 S. Idaho Road in Apache Junction, AZ, opened in January. The site includes 144 covered RV spaces plus a warehouse to store more than 650 portable moving containers. U-Haul began building the facility in 2018. Source: Apache Junction/Gold Canyon Independent

U-Haul converted a former paper recycling plant on Central Avenue in Chattanooga, TN, into a warehouse for a growing portable storage container business. It bought the former Greif Chattanooga recycling plant at 1721 Central Ave. and renovated the 76,890-square-foot site into a U-box warehouse. It also has 2.6 acres for parking. Source: Times Free Press

Complete Storage has opened a climate-controlled self-storage facility at 905 E. Main St in Salem, IL. Source: EIN Presswire.com

Public Storage has opened at Electric Road and East Main Street in Salem, VA. It’s the fifth Roanoke Valley site that’s branded as Public Storage. Source: The Roanoke Times

Smart Space Self Storage opened Jan. 1 at 10900 Virginia Parkway in McKinney, TX (above). Source: Community Impact

BestBox Storage has opened two locations in northeast Houston, TX. The Missouri-based company has nine facilities nationwide. It recently added locations at 26210 FM 1485 in New Caney, TX and at 22041 FM 1314 in Porter, TX. Source: Community Impact

Under construction

Bakke Development – teaming with BCDC – broke ground on an 85,825 NRSF facility at 2100 S. McColl Road in McAllen, TX. Alamo Architects, civil engineer Halff and general contractor Independent Contractors Inc. all worked on the facility. Security State Bank provide an $81 million construction loan. The three-story building will have 762 climate-controlled units. It will be one of 11 storage facilities available within a 3-mile radius. Source: Multi-Housing News

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