Real estate developer Ziff Properties Inc. has acquired the former US Golf & Sports Centers Inc. retail store in Knoxville, Tenn., which it intends to convert to self-storage. Once the renovation is complete, the 6.02-acre property at 11775 Snyder Road will comprise 65,000 square feet of storage space.
The site is near Interstate 40 and Turkey Creek, a mixed-use development that includes retail and restaurants. It’ll be managed by self-storage real estate investment trust Extra Space Storage and branded under its name, according to a press release.
“With the nearby residential growth, we believe this storage facility will be well-received, and [we] look forward to fulfilling the storage needs of the community,” said Christian Chamblee, chief operating officer for Ziff.
Ziff has converted several properties to storage in recent years. In 2016, it purchased the 52,000-square-foot Buncombe Plaza shopping center in Greenville, S.C. The same year, it acquired Mountain Creek Village Shopping Center in a joint venture with Reliant Self Storage. Plans for the 5-acre lot included transforming the space into 81,728 square feet of storage in 718 units.
Based in Mount Pleasant, S.C., Ziff specializes in the acquisition, development and management of commercial properties in the Southeast. Founded in 1992 by Stephen Ziff, the company owns a portfolio including 3 million square feet of self-storage, shopping centers and office buildings.