U-Haul has unveiled plans for a new 700-unit self storage facility in Loveland, Colo. The company acquired a 7.6-acre lot for the development, which is slated for completion by 2023.
Plans for the facility at 5440 Byrd Drive call for around 100,000 square feet of storage space across a three-story building. Dubbed U-Haul Moving & Storage of Boyd Lake, the property will offer climate-controlled units, portable storage containers and digital security systems.
Located close to the Northern Colorado Regional Airport, the property is in a large industrial area northeast of Loveland’s center. A 40,422-rentable-square-foot U-Haul facility at 3305 N. Lincoln Ave. is roughly 8 miles away.
The company decided to undertake the project because its other Loveland facility struggled to keep up with demand, Falisha Linguist, Northern Colorado president at U-Haul, said in prepared remarks.
U-Haul’s current portfolio includes more than 825,000 rentable storage units across North America. This month, the company expanded its operations in Annapolis, Md., with the acquisition of a 908-unit Extra Space Storage property, adjacent to an existing U-Haul facility.