Self Storage Industry News: “Brandywine Homes Entering Self-Storage Industry”
Dec. 15, 2016
Posted on Dec 15 2016 – 2:09pm by Tony Gonzalez
Self storage properties have become one of the most reliable investments in real estate. Current industry estimates say that approximately 10 percent of households in the United States rent a self storage unit. And as apartment living across the country continues to rise, the demand for self storage is unlikely to go away anytime soon.
Brandywine Homes recognizes this opportunity and has decided to expand its real estate investments into self storage.
The company was founded in 1994 by Jim Barisic. Its mission has been to take properties in old neighborhoods and give them a facelift—converting run-down, under-utilized space into much-needed urban housing.
Given their geographical focus, Brandywine Homes is in a good position to recognize and locate excellent properties for self storage facilities. The company recently announced that it had purchased a parcel of land in Escondido, California where it will construct a self storage facility with 586 storage units.
“We’re excited about moving into a new, up-and-coming arena of real estate with this project,” said Mark Whitehead, the principal in charge of construction for Brandywine, in a press release. “We chose this property because of its convenient location with easy accessibility for many residents, and we’re confident it will add value to the neighborhood.”
The location is surrounded by commercial centers and has housing developments to the north and east. The facility will be approximately 78,000 square feet, split across two buildings. One is a two-story structure of 66,831 square feet, while the other is one story with approximately 11,236 square feet of space.
Brandywine will also build four homes at the location.
