Metro Storage LLC has acquired a former Dodge auto dealership in the Minneapolis suburb of Blaine, Minn., which it plans to convert to a Metro Self Storage facility. The 627-unit property will feature multiple stories and is slated to open in the first quarter of 2015.
The current design includes 75,000 square feet of storage space, with a drive-through that will connect the renovated existing building to a new building. It will also feature a covered loading and unloading area, controlled access, 24-hour video surveillance, motion-sensor lighting, and storage-to-office communication points.
“This is a great acquisition for us,” said CEO Blair Nagel. “It’s in an outstanding location with tremendous visibility, and it will enable us to begin to leverage the Metro brand across the Minneapolis market.”
Metro Self Storage also operates a facility in nearby Maple Grove.
“We've had great success in the Minneapolis market and are looking forward to launching our expansion with the repurposing of this auto dealership into a state-of-the-art, consumer friendly, self-storage facility,” said Matthew Nagel, company chairman.
Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. The company operates 90 stores in 11 states.
A rendering of the new facility in Blaine, Minn.