U-Haul Co. of Iowa has acquired a self-storage facility in Waterloo, Iowa, from Extra Space Storage Inc., a self-storage real estate investment trust. The property at 1923 E. Mitchell Ave. has been branded as UHaul Storage of Waterloo and will be remotely operated by U-Haul of Waterfalls at 3633 University Ave., also in Waterloo.
The property encompasses 40,142 square feet of storage space on 2.37 acres of land. It features two single-story buildings dedicated to self-storage as well as another single-story building with a two-story office and apartment attached.
“We are glad to be able to reuse these existing facilities, renovate them and offer a superior product to our customers," said Randy Dickson, marketing company president.
The acquisition of the Waterloo facility was driven by U-Haul’s corporate sustainability initiatives, which supports infill development to help local communities lower their carbon footprint, according to a company press release. U-Haul’s adaptive reuse of existing buildings eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings, U-Haul officials said.
Established in 1945, U-Haul International Inc. has more than 40 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.
Headquartered in Salt Lake City, Extra Space owns or operates 1,071 self-storage properties in 35 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 715,000 units and 79 million square feet of rentable space.
