Phoenix-based U-Haul International Inc. has purchased 10 properties in Newark, N.J., including a former shoe-manufacturing plant, that it plans to convert to self storage. U-Haul acquired the sites from 141 to 155 1st Street from the city for $200,000, according to the source.
The buildings, near the corner of First and Orange Streets, include the former James A. Banister Company Shoe Factory. The abandoned structure at 370-386 Orange St. is next to the Orange Street Light Rail Station and visible from Interstate 280. Most recently, it housed Domino Manufacturing Corp., a wrapping-paper manufacturer.
U-Haul is in the early stages of the development, according to Jeff Lockridge, manager of media and public relations for U-Haul. The project is still undergoing the zoning process and engineers are drawing plans. "Our plan is to put our adaptive reuse initiatives to use and repurpose the building as a U-Haul self-storage and truck and trailer rental facility to serve the community,” Lockridge said.
Last year, the factory was nominated for inclusion in the National Register of Historic Places, the source reported. Designed by Frank Hill Smith Inc., it was built around 1915 and home to Tung-Sol Lamp Works in 1935. It was deemed a “model factory” by a New Jersey inspector in a 1916 article in “Shoe and Leather Reporter.”
Established in 1945, U-Haul has more than 44 million square feet of storage space at more than 1,200 owned facilities throughout North America. The company’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, has led to dozens of conversion projects in recent years.