Based in Pensacola, Florida, Granger Development specializes in the acquisitions and development of commercial real estate.
Since 1999, we have developed and invested in multiple property types, including retail, office, condominium towers, townhouses, and residential subdivisions. We have evolved to focus on the acquisition and development of self-storage facilities throughout the United States with an emphasis on key markets in the Southeast.
Self-storage has often outperformed other real estate sectors such as office, retail, and industrial properties, as well as the broader stock market indices in terms of total returns (distributions + capital appreciation) over various time horizons. This is attributed to factors such as stable cash flow, recession resilience, and lower operational costs.
Self-storage facilities meet a steady demand driven by various factors, including downsizing or relocation, while shifting consumer trends and online shopping, necessitate extra space for storage. Additionally, families utilize self-storage to reclaim living areas or store seasonal items, ensuring organized living spaces amidst evolving l
Self-storage facilities meet a steady demand driven by various factors, including downsizing or relocation, while shifting consumer trends and online shopping, necessitate extra space for storage. Additionally, families utilize self-storage to reclaim living areas or store seasonal items, ensuring organized living spaces amidst evolving lifestyle preferences. This persistent demand ensures a steady influx of customers and reduces the likelihood of vacancies, thus solidifying self-storage as a dependable investment choice.
Self-storage generates reliable and consistent cash flow due to high demand for storage space across various market conditions. Unlike office or retail properties, which may be subject to fluctuating tenant demand or lease negotiations, self-storage facilties provide a stable income stream with low operational overhead and a diverse tenant base.
Self-storage facilities have proven resilient in economic downturns, with data showing consistent demand for storage solutions during recessions. This trend underscores the recession-resistant nature of self-storage investments, offering investors a reliable income stream even in challenging economic environments.
Our team utilizes best in class demographic data software programs to identify ideal markets based on storage customer behavior patterns.
We study the existing competition, market supply & demand metrics, current rents, and underlying location in an attempt to out-position our competition.
We locate, design, entitle, construct, and operate our facilities with customer convenience as our primary focus.
Our strategy creates a unique investment opportunity creating a significant value proposition for our investors.
Granger Development, of Pensacola, Florida, was awarded the “Best of The Best in Real Estate, Construction, and Development – Renovation Category” by Buffalo Business First, the leading source of business news in Western New York, for the conversion of a former K-Mart into a Life Storage climate-controlled self-storage facility. Located at 2590 Military Road in Niagara Falls, New York, the original building was constructed in 1967 and was occupied by a K-Mart until the store closed in 2017. Granger Development purchased the 102,200 square foot vacant building on 10.8 acres in April 2021. Following the complete renovation of the building, the facility opened its doors as a Life Storage in the Spring of 2022. Granger Development oversaw the entire development process, including due diligence, project design, property acquisition, and construction management.
The Class-A facility is comprised of 586 climate-controlled storage units, with a conditioned drive-aisle through the entire length of the building for convenient customer loading and unloading out of the elements of Niagara Falls’ harsh Winter weather. The project also included subdividing excess land to create three outparcels for future sale and development, one of which has been sold to a regional car wash operator and another which is under contract to a national retailer. Granger Development is also currently pursuing entitlements to construct a 64,400 square foot expansion of the storage facility. The facility is managed by Life Storage, which recently merged with Extra Space Storage to become the largest self-storage operator in the United States, with over 270 million square feet across 3,500 locations.
401 East Chase Street, Suite 101 Pensacola, FL 32502
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