Lock-It-Up LLC, which operates 16 self-storage facilities in Michigan and Ohio, is near completion on a $700,000 expansion and renovation of its property in Bowling Green, Ohio. The company plans to embark on a similar project this spring at its facility in Oregon, Ohio, according to the source.
The makeover of the property at 20945 Midstar Drive is part of a multi-year effort to upgrade all the Lock-It-Up facilities, which are owned by Tolson Enterprises. Modern updates have been completed at its facilities in Adrian, Fremont and Sylvania, Mich.
“We’re going to go in and do branding and facelift and office remodels on all of our sites,” said Steven Speranza, president of Tolson. “Some of them are getting aged, and as we do new stuff, it makes the older stuff look older. So we’ve done a big review, and we’re in the process of bidding out a ton of work for us to decide how much of this we can bite off each year.”
Tolson purchased the Bowling Green facility in late 2015 for $975,000, the source reported. Since the acquisition, the company has added two buildings, one of which is climate-controlled, and expanded the number of units by 67 percent. “Over the last five years, our [method of operation] has been to expand existing facilities like this,” Speranza said.
Founded in 1985, Lock-It-Up accounts for 20 percent of Tolson Enterprises’ revenue, the source reported.
Based in Toledo, Ohio, and founded by Harvey Tolson in 1991, Tolson Enterprises owns commercial, industrial and office properties in Indiana, Kentucky, Michigan and Ohio.
Sources:
- The Toledo Blade: Local Storage Business Expanding
