U-Haul has acquired an 8.9-acre site for the development of U-Haul Moving & Storage, a 750-unit retail, moving and self storage facility in Princeton, Texas. The project is scheduled for completion in July 2024.
The development will comprise a four-story building with indoor climate-controlled units, outdoor drive-up storage buildings and a separate warehouse for U-Box portable storage containers. On-site amenities will include high-tech security features, U-Haul truck and trailer sharing, moving supplies and boxes, towing equipment and professional hitch installation.
The property will be located at U.S. Highway 380 and Boorman Lane, 25 miles from Plano, Texas, and 44 miles from Dallas. According to Yardi Matrix data, there are two storage facilities in Princeton, totaling 26,927 rentable square feet, with three more in the development stages, which will add 160, 690 rentable square feet to the existing inventory, in addition to this U-Haul project. Zane Rowland, president of U-Haul Co. of North East Dallas, stated in prepared remarks that mobility and development in Princeton is an influencing factor to expand operations and deliver storage facilities in the area.
The same data provider shows the Dallas-North rates for standard 10×10 non-climate-controlled units were up only 0.92 percent year-over-year as of July, while rents for the same size climate-controlled units were up 1.54 percent.
U-Haul offers 876,000 rentable storage units and 75.1 million square feet of space. The company has recently started the development of another project, a 700-unit storage facility in Cartersville, Ga., slated for completion in May 2024.