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Ziff Properties Acquires Lexington Warehouses for Storage Conversion

Posted: 10/31/2018 Link: LaneReport.com
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Ziff Properties, Inc. today announced the acquisition of the former Golden Burley Tobacco Warehouse and Building Materials Warehouse located on Angliana Avenue in Lexington. Fred Pfister of Silvestri Craig Realtors facilitated the transaction. The 3.5-acre parcel of land will be redeveloped into a Class A self storage facility with 103,500 square-feet of climate and non-climate controlled units. CubeSmart Self Storage will manage the asset, which is located in downtown Lexington, 1.24 miles from the heart of University of Kentucky’s campus.

Chief Operating Officer and Director of Acquisitions, Christian Chamblee says, “With the nearby residential growth, we believe this storage facility will be well received and we look forward to fulfilling the storage needs of the Lexington community.”

Ziff Properties, Inc. specializes in the development, acquisition and management of commercial properties in the Southeastern United States. Based in Mount Pleasant, South Carolina, the company’s 3,000,000 square-foot portfolio includes shopping centers, office buildings, and self storage facilities. Founded by Stephen Ziff in 1992 along with CEO Tim Walter, the company has purchased more than 6 million square feet of commercial property. With more than 500 commercial tenants, Ziff Properties’ portfolio contains locally owned and operated businesses as well as national tenants such as Food Lion, Staples, Starbucks and Hibbett Sports. For more information visit ZPI.net.

 

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