Plans to construct 100,000 square foot indoor self-storage facility
StorCo Storage has purchased the O’Fallon Square Shopping Center in O’Fallon, Missouri and plans to construct a 100,000 square foot self-storage facility inside one of the strip center’s two existing freestanding buildings. The new two-story, climate controlled StorCo Storage will include 53,737 square foot of space formerly occupied by Attitude Trampoline Park and Shop N Save along with a new second floor to be added.
Other current tenants at O’Fallon Square, including the At Home Superstore, Vantage Credit Union, Fantastic Sam’s and five other retailers, will remain in the center’s other existing building. That 13,000 square foot building also has 3,000 square feet of retail space available for lease.
O’Fallon Square is a neighborhood shopping center located at the northwest corner of Highway K and Veterans Memorial Parkway in O’Fallon. O’Fallon-based StorCo is a provider of secure, climate-controlled indoor self-storage facilities. StorCo purchased the property for $4.4 million from O’Fallon Square Properties, LLC and closed on the purchase the week of December 2, 2019.
“O’Fallon Square is a strong retail destination located in an area with a high demand for self-storage,” said James Reid, owner of StorCo Storage. “We see an opportunity to fill both needs and make O’Fallon Square an even more important part of the community. We will offer storage for a wide range of personal and business items, including RVs and cars.”
StorCo will move its headquarters, including a call center and corporate offices, to the seven-acre O’Fallon Square campus. StorCo recently converted the former Jack Schmidt Chevrolet dealership in Wood River, Illinois into a 73,000 square foot self-storage facility. The company will sell moving supplies at both these locations.
American Bank of Missouri is providing $7.5 million of acquisition and construction financing to StorCo Storage for the O’Fallon Square project. Tim McFarland of Sansone Group and attorney Patrick Wittenbrink of Carmody MacDonald, PC represented StorCo Storage in the transaction. Scott Seyfried of Pace Properties represented the seller.
For more information on StorCo Storage, visit www.storcosolutions.com.