The conversion is expected to be completed in three years
July 14, 2015: Real estate developer Gary Ott is converting a former paper factory in South Philadelphia into Philly Self Storage.
According to the source, Ott had acquired the Dubin Paper Co. building for $3.25 million, in the month of February.
Philly Self Storage facility will have over 2,000 units once complete. The first 300 storage units has already opened this week and another 340 storage unit is scheduled to open in the month of August.
“The biggest problem was that the sprinkler system was inoperable, and the building was full of trash and graffiti. It was a hot house for bad things to happen,” Ott said the source.
The self storage facility will hire four full-time people now, with up to four more once it is finished.
According to source, Ott previously constructed four similar storage projects in various places such as in Germantown, Kensington, South Philadelphia and West Philadelphia, Pa., which was sold in the year 2007. Ott is planning to construct a new self-storage
portfolio through additional conversion projects.
Visit http://www.insideselfstorage.com/ for more information.