A self-storage developer purchased a 5-acre parcel of land next to a shopping mall in Oklahoma City, Okla., to develop a 93,000-square-foot self-storage facility.
Mustang Self Storage LLC bought the land near Shepherd Mall for $444,000 from VTA Oklahoma City LLC. Mustang currently owns two other self-storage facilities in the area.
Construction on the facility, to be named Shepherd Self Storage, will begin in the next 60 to 90 days, said The Grant Group's Casey Massegee, who handled the transaction for the seller and buyer.
The facility will consist of 630 units built in two phases. The first phase will encompass about 30,000 square feet.
Source: OKC Biz, Shepherd Mall Owners Sell Land for $444,000