Friedman Real Estate completed the sale of a five-acre property at 6014-6015 E. 10 Mile Road in Warren, Michigan, which will be the site of a new 519-unit self-storage facility totaling approximately 77,000 net rentable square feet.
The permitted development plan includes approximately 40,000 square feet of climate-controlled space comprising 257 units, along with additional non-climate-controlled storage. The existing property contains approximately 50,000 net rentable square feet.
The buyer is a vertically and horizontally integrated self-storage company whose operations span the production of storage walls, doors and units, as well as development and facility operations. Construction commenced immediately following the closing.
Kris Parker of Friedman Real Estate represented both the seller and buyer in the transaction.
The project adds new climate-controlled self-storage inventory to the Warren and Metro Detroit market and reflects continued development activity within the self-storage sector.
