Metro Self Storage, a storage operator with more than 90 facilities, continues to ramp up development with the acquisition of a former liquor distribution center in suburban Milwaukee.
Metro plans to convert the building at 4059 W. Bradley Road in Brown Deer, WI, into a self-storage facility and add three buildings for a total of 107,458 square feet of storage space. The operator is aiming to open the 638-unit facility in the fourth quarter of 2014.
Beloit Beverage sold the property to Lake Forest, IL-based Metro.
This is the third acquisition of a development site made by Metro so far this quarter. In June, RK Kliebenstein, the company’s vice president of acquisitions, told attendees at a storage conference in New York that Metro has more than 20 development projects in its pipeline.
One potential project the company is pursuing is the conversion of a vacant industrial building at 2121 Shermer Road in Northbrook, IL. Metro Storage recently applied for a newly created zoning classification that would let it operate a self-storage facility there. Metro hasn’t purchased the property yet.
Six years ago, an unnamed developer sought to establish a storage facility on the same property but was blocked by local officials, according to the Northbrook Star.
Amerco Real Estate Co., the property acquisition arm of U-Haul’s parent company, bought a former Fun Expedition gaming center at 2805 N. Roan St. in Johnson City, TN, for $2.2 million. The property originally was a Lowe’s store.
The company has moved an existing truck rental operation to the building, which it will renovate to include self-storage units. The three existing buildings cover more than 90,900 square feet.
Meadows Land Investment
Warren Mitchell and Jim Anderson of Meadows Land Investment are seeking a zoning change in Chatham County, NC, to develop a four-story storage facility at 12330 U.S. Highway 15-501 North in Chapel Hill. The facility would consist of two buildings, totaling more than 122,000 square feet.
24 Hr Self Storage
Dr. Richard Bowie, operator of automated self-storage chain 24 Hr Self Storage, is planning to develop a facility in Bristol, TN, on a vacant 8-acre parcel at 2851 Highway 394.
The land, next to a Honda dealership, has been up for sale for more than 30 years, according to TriCities.com.
In June, regional planning commissioners approved a special-use permit that would let Bowie build the facility if certain conditions were met. Bowie also will need final approval from the City Council.
Bowie’s 24 Hr Self Storage operates seven facilities, mostly in Tennessee. None of the facilities have employees.
Alex Simic, owner of Storage Master, has received approval from local officials to convert a former Buick dealership at S66 W14444 Janesville Road in Muskego, WI, into a storage facility.
The facility is set to open by Thanksgiving, according to Muskego Now. As part of the facility, Simic plans to open a coffee shop called Muskego Urban Gathering (MUG) Place. Muskego is southwest of Milwaukee.
Storage Master operates four other facilities in Wisconsin.
Fox Den Store-It
The operator of Fox Den Store-It is developing its fourth storage facility at 11301 N. Goede Road in Edgerton, WI, north of Janesville. Site work began in May on the five-building, 209-unit facility.
Owner Justin Fox told The Gazette that he was in the process of choosing a construction company to build the facility. The facility will open in October, he said.
The facility will operate under the name County Line Self Storage. Planning commissioners recommended approval of the project July 1; final approval is set for July 21.