Go Store It Self Storage Opens in the Inland Empire
This facility is located on one of the major arterials of the area.
Go Store It Self Storage has opened its latest project in Redlands, Calif., with a 114,750-square-foot, 838-unit facility. The asset is located on 6.5 acres and includes 400 feet of frontage on Wabash Avenue, one of major arterials of the area.
The facility features climate-controlled units, each accessible via a secured, gated entry with wide drive aisles. Go Store It—an affiliate of Madison Capital Group Holdings—collaborated with local officials to overcome Redlands’ zoning regulations.
The facility is designed to meet the area’s growing population, which is expected to increase by over 20 percent in the next 25 years,. The Inland Empire ranks third lowest in storage construction supply among the top 30 MSAs.
Continuous expansion
Madison Capital Group launched the Go Store It Opportunity Fund L.P. earlier this month. The fund is a $250 million self storage investment effort to acquire and develop properties nationwide, particularly in high growth markets in the Sun Belt.
In July, Go Store It Self Storage opened a facility in Locka, Fla., in the Miami-Dade market. The five-story Class A facility at NW 27th Avenue offers 777 climate-controlled storage units. Ken Carlson Architects designed the 107,000-square-foot Go Store It building, which has 78,450 net rentable square feet in various unit sizes.
In May, Go Store It Self Storage opened a storage facility in Pico Rivera, Calif., again collaborating with city officials to obtain the necessary permits.
According to Yardi Matrix’s latest reports, self storage REITs reported negative occupancy and revenue growth in the third quarter of 2024, indicating weaker demand fundamentals. Nevertheless, despite going into the slower winter season, the YoY advertised rate growth is improving compared to the rent drops recorded by the end of 2023.
