Real estate developer and investor Wasatch Storage Partners (WSP) plans to purchase the Trade Mart Furniture Center in Rochester, Minn., and convert the building to climate-controlled self-storage. The company filed an application with the city for the 50,000-square-foot structure at 3030 Seventh St. N.W. The plans for the facility, to be called Country Club Self Storage, also include 14 outdoor vehicle-parking spaces.
The furniture store is closing after 83 years in business. The current owners, Mary Kuehn and Rob Larson, who also own an adjacent property, are holding a liquidation sale to clear out the remaining inventory.
Earlier this year, WSP sold two conversion projects it completed in Lake Elmo and White Bear Lake, Minn., to Westport Properties Inc., which operates more than 120 self-storage facilities under the US Storage Centers brand. The properties were previously managed by CubeSmart, a self-storage real estate investment trust and management company.
Based in American Fork, Utah, and founded in 2015, WSP specializes in acquisitions, development and property management. It operates five self-storage facilities in Arizona, Colorado, New York and Tennessee under various brand names. It also has a project under construction in Federal Way, Wash., and a pending land-acquisition deal in Inver Grove Heights, Minn.
Source:
Post Bulletin, Heard on the Street: Longtime Med City Store to Turn Into Storage
