The subject property was a 78,735 sq. ft. warehouse facility formerly operated as a Burlington Coat Factory. The property was retrofitted and approximately 46,883 sq. ft. of additional space was added via a mezzanine level. The project was developed into a Class “A”, state of the art, climate controlled, indoor storage facility. A total of 967 new storage units totaling 92,758 sq. ft. of leasable space was added to the market.
Burbank, IL is a suburb located 15 miles South West of Chicago with a population of over 28,000. The population within a 5-mile radius of the subject property is over 55,000 and demand for storage was drastically outweighing the supply.
The property was delivered ahead of schedule in October of 2022. The property has been branded and operating as a Public Storage (NYSE: PSA) facility.
