U-Haul Launches South Dakota Project

The Rapid City facility is scheduled for delivery in early 2025.

U-Haul is planning a new retail and self storage facility in Rapid City, S.D. According to Pennington County records, the 7.5-acre development site sold for $2.6 million.

U-Haul Moving & Storage of Catron Blvd. will feature more than 80,000 rentable square feet. The project is scheduled for completion in early 2025.

Plans call for a three-story building that will feature 900 indoor ADA-accessible self storage rooms, as well as a separate warehouse for portable moving containers. On-site amenities will include boxes and moving supplies, towing equipment, trailer and truck rentals, as well as professional hitch installation, among other features.

READ ALSO: Will Self Storage Grow in 2024?

The property will take shape at East Summer Road & Shelby Avenue, near U.S. Route 16 and less than 4 miles south of downtown Rapid City. The site is an attractive investment because of its proximity to the Ellsworth Air Force Base and the Black Hills region, President Shawn Odden of U-Haul Fargo branch commented in prepared statements.

The facility will be one of the five available within a 3-mile radius, offering residents 9.1 rentable square feet of storage space per capita. As of February, South Dakota had a total of four self storage properties in its development pipeline, of which two represent expansions of pre-existing facilities, Yardi Matrix data shows. U-Haul’s footprint in the market will reach nearly 300,000 square feet, as the company owns three additional self storage facilities in South Dakota, according to the same source.

U-Haul’s ongoing expansion

Since the beginning of this year, U-Haul has opened a 117,154-square-foot retail and self storage facility in Apache Junction, Ariz., some 35 miles from downtown Phoenix. The company broke ground on the 900-unit property in 2018.

At the beginning of this month, U-Haul also announced its plans to expand in Texas and Arizona. The company acquired the construction sites for two projects, set for completion in 2026.

You May Also Like