ACD ACQUIRES SOUTH WEBER STORAGE IN OGDEN, UTAH
Denver, CO — Armstrong Capital Development (“ACD”) today announced the acquisition of South Weber Storage in Ogden, Utah. Developed in 2004, the facility offers 26,060 square feet of net rentable square feet across 136 traditional, non-climate-controlled drive-up units and is conveniently located near Highway 89. The facility is currently 98% occupied.
“We are pleased to add South Weber Storage with its outstanding location and strong demand fundamentals to our portfolio.” said Adam Huff, Director of Development at ACD. “This investment represents a continuation of ACD’s allocation to the cycle-resilient self-storage sector and our ongoing geographic diversification into Utah’s thriving markets. We are aggressively exploring a range of commercial acquisition opportunities and look forward to continuing to grow ACD’s presence in Utah.”
Located at 2192 East South Weber Drive, the facility enjoys 750 feet of prominent arterial frontage serving a high growth 3-mile trade area with an average annual household income of $97,692 and a projected 5-year population growth rate of 7.4%. ACD plans to renovate the property with a number of physical and operational improvements, including a new leasing office and professional management. StoragePRO will operate the facility under its existing South Weber Storage banner with a focus on convenience and customer service.
Founded in 2005, Armstrong Capital Development is a Denver-based private development company that acquires, develops and manages commercial real estate investments in the Intermountain West, with a focus on both value-add and stabilized core assets. More on ACD at www.ACD-CO.com.