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Self-Storage Another Competitor for Industrial Space

SAN DIEGO—Conversions of obsolete industrial space to self-storage is becoming more popular as ground-up development grows increasingly more cost-prohibitive, Wentworth Storage’s Dave King tells GlobeSt.com EXCLUSIVELY.

Dave King King: “It seems like someone is nipping at my heels for each of these deals, and it’s not another storage person.”

SAN DIEGO—Conversions of obsolete industrial space to self-storage is becoming more popular as ground-up development grows increasingly more cost-prohibitive, Wentworth Storage Co.’s VP Dave King tells GlobeSt.com. The Arizona-based development and acquisition company recently purchased two industrial properties in Southern California with plans to convert both to class-A self-storage facilities.The acquisitions include a ± 90,000-square-foot industrial building at 2391 Fenton St. in Eastlake Village and a ±81,980-square-foot industrial building at 12340 World Trade Dr. in San Diego, with plans to open both as self-storage facilities in 2017.

We spoke exclusively with King about the self-storage business, how it relates to industrial and other markets the firm is eyeing.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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