Phoenix-based U-Haul International Inc., which operates more than 1,300 self storage facilities across North America and frequently recycles existing structures for its new locations, has purchased the former Eagle Electronics building in Colorado Springs, Colo., for conversion to self storage. The property at 4725 Centennial Blvd. is near the U.S. Air Force Academy.
Built in 1998, the building contains a mix of lofted and acoustical-drop ceilings as well as two dock-high and three drive-in doors. It has two additional tenants, Thin Metal Parts and Peak Analysis & Automation Inc. Both have six years left on their leases, according to a source.
U-Haul Moving & Storage at Mountain Shadows is currently operating from a temporary showroom, offering moving and packing supplies, trailer and truck rental, and U-Box portable-storage containers. Plans are underway to convert the 80,259 square-foot building into an indoor facility containing 400 climate-controlled units.
“Colorado Springs is booming, and U-Haul needs to follow suit,” said Dave Hellmers, president of the U-Haul Co. of Southern Colorado. “We chose this area of town because of the strong technology presence and the proximity to the Air Force Academy. We want to be part of this community for years to come.”
Established in 1945, U-Haul owns more than 44 million square feet of storage space. 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.