U-Haul Opens Florida Self Storage Facility
The 138,000-square-foot property was a J.M. Fields and Kmart store.
U-Haul Moving and Storage Fort Walton Beach
U-Haul has opened a new retail and self storage facility in Fort Walton Beach, Fla., in the state’s panhandle. The property is a redevelopment project that was driven by U-Haul Corporate Sustainability initiative.
A former J.M. Fields and Kmart store, the property was originally built in 1971. U-Haul acquired the asset in 2019 for $4.4 million, according to Okaloosa County records, and transformed the property into a 138,000-square-foot facility.
The single-story building sits on 10 acres and features 800 climate-controlled units, ranging from 25 to 200 square feet. On-site amenities include drive-in load and unload area, video surveillance, ADA-accessible units, utility carts, U-Box portable storage containers, U-Haul Truck Share 24/7. The property includes gated access and covered boat and RV storage.
U-Haul Moving and Storage is located at 200 Irwin Ave., in the Pensacola area, 8.2 miles from Destin-Fort Walton Beach Airport and 23 miles from Interstate 10. The property is one of the 12 facilities available within a 3-mile radius, offering residents 15.4 rentable square feet per capita. Yardi Matrix data shows that Pensacola has a construction pipeline of 27 self storage properties in various stages of development, expected to add roughly 1.9 million square feet to existing inventory.
Last year in August, U-Haul made another acquisition in Florida, its first asset in Sebring. The property is a 575-unit storage facility. Earlier in 2022, the company purchased another Kmart store in Vernal, Utah, for the purpose of converting it into a storage property.
