Phoenix-based AMERCO Real Estate Co., the acquisition and development entity for The U-Haul Co., has purchased a former U.S. Postal Service (USPS) facility in Eckington, Wash., that could become a self-storage facility. The 2.5-acre property at 2135 Fifth St. N.E., purchased for $12.25 million, includes a 79,380-square-foot building. AMERCO has owned the building next door at 2215 Fifth St. since 2005, according to the source.
The company has yet to determine exactly what it will do with the property, but company officials familiar with the deal said the building will likely be converted to self-storage, according to the source. Parking for U-Haul trucks will be incorporated on the surrounding lot, and AMERCO is also expected to pursue a by-right use. The property is currently zoned for distribution, medium-density commercial and production, and repair uses.
The USPS site served as the only equipment shop for the entire postal system for about five decades, the source reported. Mailbags and postal locks were manufactured at the plant.
Established in 1945, U-Haul has more than 44 million square feet of storage space at more than 1,200 owned facilities throughout North America. 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.
Sources:
- Washington Business Journal: This Huge USPS Shop in Eckington Had a Historic Purpose. Next Life, U-Haul?
