Safeguard Self Storage continues to ramp up its development activity in the Chicago, IL, market.
On Oct. 15, the storage operator bought a piece of land on West 95th Street in Chicago’s Beverly neighborhood for what will be its 14th facility in the Chicago area. Earlier this month, the company announced it had purchased land in Chicago for its 13th local facility. The company’s 11th and 12th facilities in the Chicago market are in the works.
The price tags for the two recent land deals weren’t available.
“The Chicago area is an important market for Safeguard and will build on the company’s efforts to increase its critical mass in this city,” said Mark Rinder, Safeguard’s chief financial officer. “We have focused on Chicago as an important next step for the company as it continues to grow.”
The 58,000-square-foot-facility on West 95th will feature 790 climate-controlled units, a drive-up loading area, computer-controlled building access, and digital and video surveillance of the property.
“This store, similar to all our Chicago facilities, will fill a real need in this dense urban area of the city where there are few other options for storage,” said Ken Finlay, Safeguard’s senior vice president of operations.
Safeguard closed Oct. 2 on a site at 2751 N. Clybourn Ave. for its 13th facility in the Chicago area. The 68,000-square-foot facility will feature 880 units with climate control, drive-up loading and computer-controlled access.
Once the West 95th facility is finished, Safeguard will have 74 facilities in the U.S. Atlanta, GA-based Safeguard, founded in 1989, is owned and operated by Morgan Stanley’s Prime Property Fund.
Alexander Harris contributed information to this story.