Built Partnership Completes Phase I Expansion of Spring Grove Self Storage in Cincinnati
Phase II to Begin in Early 2021
CINCINNATI, Sept. 4, 2020 /PRNewswire/ -- Investor-developer Built Partnership has announced today the completion of an extensive renovation and expansion at Spring Grove Self Storage, Cincinnati's only drive-thru, climate-controlled self-storage facility. This expansion makes available more than 250 new climate-controlled storage units and 140 well-lit parking spots for autos, boats, and RVs. The 146,000 SQFT facility is conveniently located at 4861 Spring Grove Avenue, by exit number 6 on Interstate 75.
The newly renovated facility features convenient climate-controlled drive-through and drive-up storage units. Additionally, the second floor in the building was renovated to include an oversized 10X20 multi-purpose freight elevator and a new passenger elevator for easy customer access. A spacious new leasing office includes a fully-stocked box and supply center and free WiFi and a coffee bar for tenants.
The newly updated Spring Grove Self Storage now features round-the-clock video surveillance, electronic keypad access, covered and uncovered loading areas, docks (box-truck or tractor-trailer accessible) and other features designed to enhance our customers' storage experience.
"After completing a significant number of upgrades and capital investments since our 2017 acquisition, we're thrilled to be adding more units and unit types at our Spring Grove Self Storage facility," said Neel Shah, Chief Development Officer of Built Partnership. "We invested over $4 million in the property to renovate and equip the first two floors, providing the only drive through climate controlled self-storage in the city along with well-lit outdoor storage for boats and vehicles. We plan to begin the second stage of the expansion of storage units to all 146,000 square feet in 2021."
"We were impressed by the renaissance happening here in Cincinnati," added Neel Shah. "This city is thriving, and we want to be part of it. This property, due to its prime location and potential for renovation, was the right place to invest."
About Built Partnership
Built Partnership brings together extensive and proven expertise in market intelligence, site selection, facility development and financial structuring and control to locate, develop, and manage mixed-use sites.
Built Partnership's investment strategy is to select high potential sites for development, including conversions of existing facilities. They apply proven expertise in the industry to develop sites at attractive project costs that lease up quickly and gain substantial asset value.
SOURCE Built Partnership
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