Phoenix Investors is set to convert a 200,000 square foot industrial facility into a strage asset in Mount Pleasant. The firm plans to add about 2,000 self storage units to the property. Besides, the facility will be branded and operated by Store Here Self Storage.
The storage facility is located at 7505 Durand Ave. It will be near the intersection of freeways 11 and 31, approximately 30 miles from downtown Milwaukee and 24 miles from General Mitchell International Airport.
In addition, the property will be surrounded by retail and industrial facilities. It will have frontage on both Durand Avenue and Oakes Road.
Anthony Crivello, executive vice president at Phoenix, said in statement, “There is significant pent up demand for institutional quality self storage in the market. Our facility will be operated in a first class manner, benefiting from a number of surrounding developments. Units are expected to be available within the next couple months.”
Phoenix Investors (“Phoenix”) is a private real estate company established in 1994. Their senior leadership and advisors have over twenty-five years of experience in successfully acquiring, managing and operating commercial real estate from coast to coast. This experience allows Phoenix to identify opportunities and apply its highly disciplined investment strategy focused on risk/reward metrics during acquisition. By reducing downside risks, we simultaneously enhance the potential for substantial value creation during the execution phases.
Source: CP Executive
Fulya Altunyay/[email protected]