Storage Master LLC Buys Milwaukee Building for Self-Storage Conversion ProjectStorage Master LLC Buys Milwaukee Building for Self-Storage Conversion Project

Storage Master LLC, which operates six self-storage properties in Milwaukee, has purchased a vacant industrial building in the Milwaukee neighborhood of Bay View that it plans to convert to a self-storage facility. The city’s planning commission approved the site plans earlier this week, according to the source.

The building at 2039 S. Lenox St. comprises 102,874 square feet of space on 1.6 acres of land. Slated to open next spring, the storage facility will include 700 storage units.

Storage Master Owner Alex Simic was attracted to the neighborhood because of the increasing number of new apartments in the area, the source reported. His company purchased the building from an affiliate of Cardinal Fabricating Corp., which bought two adjacent buildings at 2021 and 2039 S. Lenox St. in March for $900,000.

Cardinal will use the sale proceeds to renovate the 2021 S. Lenox St. location for business expansion, according to the source. The two properties had been home to Aluminum Casting & Engineering Co. for several years. Most recently, they were leased to auto-parts maker Diversified Machine Inc., which vacated the buildings in 2013.

Another self-storage conversion recently opened in the Town of Brookfield, about 11 miles from Bay View. Self Storage of Goerkes Corners opened last week at 21300 Doral Road. The 93,000-square-foot self-storage center was converted from a former Wonder Hostess Thrift Shop.

Storage Masters operates facilities in Caledonia, Franklin, Muskego, New Berlin and Racine, Wis.

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