Public Storage Inc., a self-storage real estate investment trust, has purchased land in Huntersville, N.C., for $1 million on which plans to build a multi-story facility. The 1.7-acre site on Bryton Town Center Drive was purchased from Bryton Town Center, owner of the multi-use shopping center.
Public Storage was attracted to the location because of its proximity to Hendrick Auto Mall, Walmart and Interstate 485, according to the source. The area is also experiencing a surge of new development, including housing and self-storage.
Public Storage was represented in the transaction by Mason Adams, associate broker, and Frank McCleneghan, office specialist, with CORFAC International and Piedmont Properties of the Carolinas Inc.
Based in Glendale, Calif., Public Storage has interests in 2,319 self-storage facilities in 38 states, with approximately 152 million net rentable square feet. Operating under the Shurgard brand name, the company also has 218 facilities in seven European countries, with approximately 12 million net rentable square feet.
Founded in 1993 and headquartered in Charlotte, N.C., Piedmont Properties is a commercial real estate firm. Its services include disposition, evaluations, and sales and leasing.
CORFAC is comprised of privately held entrepreneurial firms with expertise in industrial, office and retail properties. It has more than 80 offices in Asia, Europe, and North and South America.
Sources:
- The Charlotte Observer: Coming to New Mixed-Use Development: More Self-Storage
