Conversion Project Brings More Self-Storage Options to Winston-Salem
- Feb 29, 2016
Winston-Salem, N.C.–A new CubeSmart self-storage facility will soon replace the former Habitat for Humanity and AC Corp. buildings on the north side of Witt Street, the Winston-Salem Journal reported.
The developer of the project is Witt Street Properties LLC, which is majority owned by Longleaf Properties LLC and includes board members of both the Wilson and Covington families of locally based Covington-Wilson Inc.
Situated between the Sherwin-Williams store and the 110 Oakwood building, the new facility will offer a total of 500 self-storage units. There will be 400 climate-controlled, 5-by-5 foot to 10-by-45-foot units, as well as 100 non-climate-controlled, 10-by-15-foot to 10-by-55-foot units. Upon completion, the property will be managed by self-storage real estate investment trust CubeSmart.
Plans also call for street and landscape improvements to that area, according to Ken Schwenke, the president of Longleaf, Witt Street Properties and Covington-Wilson. The total investment in the project is estimated at $3.2 million, Schwenke told the newspaper.
Witt Street CubeSmart’s target market will be people and businesses within a 5-mile radius. Units will be available for pre-rental in March.
Based in Malvern, Pa., CubeSmart owns 449 storage facilities in 31 states and the District of Columbia and manages 170 properties for third-party owners.
Image courtesy of CubeSmart