Real estate developer Ziff Properties Inc. has purchased the 52,000-square-foot Buncombe Plaza shopping center in Greenville, S.C., with the intent to convert it to self-storage. The property is in the city’s Water Tower district and will be expanded to 67,500 square feet of storage space comprising 777 units. The facility will also provide boat/RV parking. The developer expects to begin construction in the spring, per a press release.
“There is a high demand for quality storage space in the Greenville area, which made this property attractive for investment,” said Christian Chamblee, chief operating officer and director of acquisitions. “We are very excited to be a part in fulfilling those storage needs for the rapidly growing community.”
Ziff Properties, which specializes in shopping centers and other multi-tenant commercial real estate, owns approximately $250 million in shopping centers throughout the Southeast. Since 1991, the company has purchased more than 5.1 million square feet of light-industrial, office, retail and storage properties, per its website. It has assets in Florida, Georgia, Indiana, North Carolina, South Carolina, Tennessee and Virginia.
Sources:
- REBusiness Online: Ziff Properties Buys Shopping Center in Greenville for Self Storage Conversion
- Ziff Properties: Ziff Properties Plans Self Storage Conversion - Greenville, SC
