Holladay, Store Space kick off third-party management deal in South Bend, IN
SOUTH BEND, Ind., Jan. 26, 2023 /PRNewswire/ -- Holladay Properties and Store Space Self Storage today announced a third-party management agreement for a self-storage facility under construction in South Bend, IN. The partnership is expected to grow to include additional locations developed by Holladay and managed by Store Space.
"For our showcase location in our hometown, we wanted to partner with a management company with a track record of success, one that's not going to rest on its laurels," said Tim Healy, President and CEO of Holladay Properties. "We look forward to growing this partnership with Store Space as we serve our customers."
Holladay Properties, headquartered in South Bend, is converting an industrial site at 851 Marietta St. into a 39,990 sq. ft. self-storage facility. The location is slated to open in Q2 of 2023, and will include four buildings, comprising 183 climate-controlled storage units, and 165 drive-up units.
"This is an exciting opportunity to partner with Holladay as they explore additional opportunities in the self-storage sector," said Rob Moreno, Store Space's Vice President of Business Development. "We have some additional projects in the planning phase, and we look forward to growing additional partnerships with Holladay in the future."
Store Space will act as the third-party management company for the facility, providing day-to-day operations, call center support, marketing, branding and technology solutions.
"This property is well-suited for a self-storage facility," said Paul Phair, head of operations and development with Holladay Properties' South Bend office. "Given the recession-resistant nature of self-storage and this property's proximity to the burgeoning South Bend and Elkhart communities, this project was a no-brainer."
Established more than 70 years ago in South Bend, Holladay Properties owns more than $1B in real estate and has offices in South Bend, Indianapolis, Portage, IN, Chicago, Richmond, VA, Orlando, FL, and Savannah, GA. They are a full-service commercial real estate provider, with projects in hospitality, multi-family housing, medical and retail. The Marietta Street facility is one of the company's first self-storage properties. Holladay Construction Group is serving as the general contractor for the location. Architectural services were provided by Peterson Architecture of Noblesville, IN.
"I had a long-term relationship with Holladay Properties previously developing extended stay hotels and I knew these were the type of developers we wanted to partner with," said Frank Forcier, Director of Development for Store Space. "The entire team at Holladay Properties are some of the best in the industry."
Based in Winter Garden, Florida, the Store Space family of companies owns, operates and third-party manages more than 100 self-storage properties in 20 states. Store Space fuels growth and value with its experience-driven operations, state-of-the-art proprietary platforms, and strategic digital marketing programs. If you have an acquisition opportunity or would like to discuss third-party management, contact us at [email protected], or visit us at www.storespace.com.