U-Haul Self-Storage: Acquisition and Development November 2016

Phoenix-based U-Haul International Inc., which operates more than 1,300 self-storage locations across North America, continues to expand existing properties as well as acquire empty buildings to convert to self-storage. The company recently announced several projects and transactions.

Phoenix-based U-Haul International Inc., which operates more than 1,300 self-storage locations across North America, continues to expand existing properties as well as acquire empty buildings to convert to self-storage. The company recently announced the following projects and transactions:

  • The conversion of three Reichhold Industries Ltd. Buildings in Kamloops, British Columbia, Canada. U-Haul Moving & Storage of Kamloops North Shore at 690 Kingston Ave. offers truck and trailer rentals, moving supplies and other services. Renovations are underway to add 699 indoor, climate-controlled units, 2,300 drive-up units and 28 covered vehicle-parking spots, according to the source. The 4-acre property will also offer U-Box portable-storage containers, hitch installation and towing equipment, and propane sales.
  • The conversion of a former warehouse in Asheville, N.C. U-Haul Moving & Storage of South Asheville is already offering hitch installation, moving supplies, trailer and truck rentals, and towing equipment on the 4.64-acre site at 3161 Sweeten Creek Road. The company acquired the 58,487-square-foot building in June and plans to add 900 interior storage units. The building was constructed in 1967.
  • The conversion of a former strip mall in Bristol, Pa. The company acquired the 30.7-acre property in January and is currently offering trailer and truck rentals as U-Haul Moving & Storage of Bristol. It intends to convert the 145,935-square-foot facility at 2683 Durham Road to include more than 600 indoor storage units. The property will feature a covered loading/unloading area for indoor units as well as offer drive-up, exterior units. Additional services include hitch installation, moving supplies, towing equipment and U-Box portable-storage containers.
  • The conversion of the former Southgate Shopping Center in Urbana, Ill. U-Haul Moving & Storage at Southgate is currently offering moving supplies, trailer and truck rentals and U-Box containers on the 5.6-acre site at 2010 S. Philo Road. The company acquired the 55,711-square-foot building in August and plans more than 600 climate-controlled storage units. Additional services will include hitch installation, propane and towing equipment. The project is expected to be complete in the spring.

Established in 1945, U-Haul operates more than 49 million square feet of storage space. The company’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, has led to dozens of conversion projects in recent years.

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