Self-storage developer Warden Storage Old Louisville LLC, based in Nashville, Tenn., has acquired the former Alton Box Co. building in Louisville, Ky., for $1.18 million from Hill Street Properties LLC, according to the source. The company intends to convert the 112,850-square-foot structure at 646 W. Hill St. to storage. The project is expected to begin later this year.

The building is near the University of Louisville campus and down the street from two large student-housing developments. The developer liked the property because it’s in an area underserved by self-storage, Hawkins Entrekin, founder and managing principal at Warden Capital, told the source. The project will include renovation to parts of the exterior. When complete, it’ll target faculty, staff and students. “It will be a nice project,” Entrekin said.

The one-story, wood-frame building dates back to around 1920. The property sale was announced by Stephen Lannert, a realtor with the Harry K. Moore Co., who represented the seller in the transaction.

Warden Capital is a real estate investment firm with offices in Chicago and Nashville. It focuses its investments on self-storage, industrial, multi-family, office and retail properties in Chicago, Columbus, Ohio, Indianapolis, Louisville and Nashville, according to its website.

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