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U-Haul Acquires 13 Kmart, Sears Stores for Self-Storage, Truck-Rental Conversions
The company owns more than 32 million square feet of storage space

December 2, 2018:  Phoenix-based U-Haul International Inc., is in the process of acquiring 13 former Kmart and Sears retail location. The company is planning to convert the properties to self-storage and truck-rental facilities. Through the parent company of AMERCO Real Estate Co.  The company has allocated a budget of $62 million on 12 Kmart properties in 10 states and a single Sears store in Fairbanks, Alaska, as per the source.

The Kmart properties are located at:
  • 20777 Bear Valley Road, Apple Valley, Calif.
  • 2875 Santa Maria Way, Santa Maria, Calif.
  • 200 Irwin Ave., Fort Walton Beach, Fla.
  • 5909 E. State St., Rockford, Ill.
  • 3250 Clear Lake Road, Springfield, Ill.
  • 17850 Frazho Road, Roseville, Mich.
  • 1705 S. Main St., Roswell, N.M.
  • 308 Dix Ave., Queensbury, N.Y.
  • 996 W. View Park Drive, Pittsburgh, Pa.
  • 1805 E. Stone Drive, Kingsport, Tenn.
  • 4110 E. Sprague Ave., Spokane, Wash.
  • 309 N. High St., Fort Atkinson, Wis.
The company has converted several properties to self-storage facility in multiple states, which includes several Kmarts and a former JC Penney store, as per the source.

Established in 1945, U-Haul operates more than 1,500 self-storage facilities across North America. The company has a portfolio of over 30 million square feet of storage space. The company’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, has led to dozens of conversion projects in recent years.

Source: www.insideselfstorage.com/acquisitionsbuying/u-haul-acquires-13-kmart-sears-stores-self-storage-truck-rental-conversions