Safeguard Self Storage in Chicago Purchased Land for a New Facility

Posted on Jun 5 2014 - 8:21pm by Tony Gonzalez

Growth. And more growth. Just like a teenager who seems to be two inches taller every time you turn around, Safeguard Self Storage continues to have growth spurts, too. Their portfolio has grown significantly over the last several years.

They recently finalized the purchase of some land for a new storage facility in the Uptown neighborhood in Chicago. Located at 5026 North Sheridan Road, the facility will be the company’s 69th store nationally and the 12th store in the Chicago area. (A facility in the West Rogers Park neighborhood is their 11th facility and is currently under construction.)

When completed, the facility will have 52,000 square feet with 770 units of various sizes. It will have heated and air-conditioned storage units, computer-controlled access to the building, and a drive-up loading area.

“The Chicago area is a terrific market for Safeguard and provides the company with the opportunity to add value to the Safeguard portfolio,” says Allan Sweet, Safeguard Chief Executive Officer. “This property is in a region where the company already owns and operates stores and we consider its addition to our real estate holdings as an important next step for the company.”

The facility was designed to fit into the neighborhood and its many Victorian-styled buildings. For over 100 years, Uptown has been a popular entertainment area which helped usher in the jazz age, the silent film era, the swing era, the big band era, and the rock and roll era. (Over 480 movies have been filmed there, too.)

“The Uptown store, similar to all our Chicago facilities, is designed to provide an exceptional customer experience,” said Ken Finlay, Safeguard Senior Vice-President of Operations. “This facility will complement our product offerings in Illinois and demonstrates our commitment to and confidence in this strong market.”

Safeguard was founded in 1989. Their headquarters were in New Orleans. That is until Hurricane Katrina destroyed much of the area. In 2006, Safeguard moved their corporate offices to Atlanta.

From the mid-1990s through 2005, the company experienced phenomenal growth. They expanded in the South, the Mid-Atlantic States, Chicago, and metropolitan New York. They now have facilities in six states.

In the Chicago area, they opened their tenth facility a mere two-and-a-half years ago. In March of 2013, they opened a location in Brooklyn. Less than three months later, they opened a new facility in the Bronx. All of this growth has created a strong portfolio for the company.

Sources Used:

“Safeguard Self Storage Completes the Purchase of Land for a New Facility on 5026 North Sheridan Road in the “Uptown” Area of Chicago, Illinois..”; 5 June 2014.

“Safeguard Self Storage Announces the Opening of a New Self Storage Facility in Bronx, New York Just North of Manhattan”; 17 August 2013.

Safeguard Self Storage.

Uptown, Chicago.