U-Haul Co. of Long Island has acquired the former Dollar Storage facility in Calverton, N.Y., for $5.4 million and rebranded it as U-Haul Moving and Storage of Riverhead. The property at 2080 River Road is the farthest east of any of the company’s stores on Long Island, located just off Interstate 495.
Dollar Storage was previously owned by real estate developer Julius Klein. Klein filed for Chapter 11 bankruptcy protection in New York Eastern District Bankruptcy Court in January 2014 for three of his companies, including Dollar Storage LLC.
The 6.35-acre property features five single-storage self-storage buildings. The facility encompasses 68,023 square feet of storage space in 470 units, 168 of which are climate-controlled. Additional offerings include truck and van rentals.
The acquisition of Dollar Storage was driven by U-Haul’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, according to a company press release. U-Haul’s adaptive reuse of buildings eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings, U-Haul officials said.
Established in 1945, U-Haul International Inc. has more than 40 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.