Macritchie Storage LLC, a self-storage developer based in Calgary, Alberta, Canada, has received a conditional-use permit to convert a former SuperValu supermarket in Kenosha, Wis., to self-storage. The company intends to transform the 61,651-square-foot structure at 3401 80th St. into 122,818 gross square feet, including no more than 1,008 units, according to the source.
The planning commission approved the plan last week, though assigning several stipulations, according to Brian Wilke, the city’s development coordinator. Requirements include swapping a large portion of the existing parking with landscaping and a restriction from ever building exterior storage units in an area north of the front of the building. The former grocery store, which has been empty since 2013, will also receive a new exterior coating and signage.
The building will be converted in two phases, according to the developer. “Building out the existing building in phases allows Macritchie to see unit sizes that are in high demand so unit mix can adjust accordingly to accommodate demand in the market,” company officials wrote in a letter to the city.
The letter indicates the structure is owned by Commercial Net Lease Realty Inc. An Orlando, Fla.-based real estate investment trust by the same name rebranded as National Retail Properties Inc. in 2006. The publicly traded company specializes in long-term net leases. As of June 30, it owned 2,452 properties in 48 states with a gross leasable area of approximately 26.3 million square feet, according to its website.
Sources:
- Kenosha News: Self-Storage Business Proposed for Old SuperValu
