CODA Management Eyes Self Storage Makeover for Vintage Ohio Property
The company plans to remodel an 88,000-square-foot building in downtown Toledo into a Class A facility. The redevelopment is slated for completion next year.
By Roxana Baiceanu
155 S. Superior St.
CODA Management Group is getting ready to break ground on a Class A self- storage facility in downtown Toledo, Ohio. The company, in partnership with its private investors, acquired the 88,000-square-foot historical building at the beginning of the month and plans to remodel it by late 2019. The new facility is expected to encompass 700 indoor units.
The asset is located at 155 S. Superior St., at the intersection of Superior and St. Clair streets, and dates from the early 1900s. Prior to the acquisition, it had been used for the storage of business records. The remodeled property will be climate controlled and feature electronic access control, 24-hour video surveillance and enclosed loading areas. The customer service office will include a convenient shop offering moving and packing supplies.
“Our demand projections show that the storage space our new facility will bring to downtown Toledo is much needed by businesses and residents alike,” said Martin Taradejna, CODA’s acquisition and investor relations lead, in a prepared statement.
The need for self storage space has energized investment activity in several Ohio markets during the past quarters. Last year, Marcus & Millichap brokered the sale of an eight-property portfolio totaling more than 3,000 units throughout seven cities in Ohio, including Toledo.
Image via Google Street View
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