Self-storage real estate investment trust (REIT) and third-party management firm CubeSmart has transformed a portion of the Family Christian Center (FCC) in Gastonia, N.C., into 330 storage units, with the intent to convert the entire 10,000 square foot building once the church relocates. The property at 1005 Linwood Road was originally a Food Lion grocery store. The church acquired the 12-acre retail property in 2008 but is downsizing, according to the source.
CubeSmart currently occupies more than half of the structure. It is renovating parts of the exterior and interior. About half of the first-phase units have already been rented, according to facility manager Brittany Parker. The REIT acquired the property from FCC for $1.5 million, the source reported.
The church has 60 members and is expected to complete its move in the next few months. It acquired a commercial space at 181 W. Garrison Blvd., which most recently was the El Paisano Bar & Grill.
CubeSmart owns or manages 1,021 self-storage facilities across the United States. Its operating portfolio comprises 69.2 million square feet.
Source:
Gaston Gazette, Storage Business Taking Place of Church in Former Retail Strip
