Newly Expanded Storage Plus of Katy
Storage Plus of Katy, formerly Franz Road Self Storage, one of our leading facilities, has been undergoing a significant property expansion that is nearing fruition. This facility, located on Franz Road, across the street from St. John XXIII Preparatory School, offers residents and businesses in Katy, Texas an exceptional storage experience.
The multi-faceted expansion, which began on November 1, 2017, is 99% complete and will be finished by the end of February. We’ve eliminated boat and RV parking on this property to allow room for development. Our square footage grew from 15,825 sq. ft. to 64,613 sq. ft., an overall increase of 48,788 sq. ft. We’ve added 406 new spaces, giving Storage Plus of Katy a total of 555 spaces, both drive-up non-climate controlled and interior climate-controlled. We’ve also included new construction for an updated, attractive front office.
Because the expansion is 99% complete, Storage Plus of Katy has received temporary certification of operation and hopes to have official certification and a completed list of finishing details by the end of January.
We are also excited to announce that Pinnacle Storage Property’s corporate office will be relocating from the Storage Plus of Katy Kingsland facility to the Storage Plus of Katy facility. An existing building on the Storage Plus of Katy property, previously a liquor store, is being converted to the Pinnacle corporate office. The rehab on this building is approximately 50% complete; the building has been gutted, and the roof has been replaced. The facade of the building is expected to be finished by the end of this month, and the interior should be finished by mid-February.
We are delighted with the transformation of this property and look forward to increased rentals, consistent performance, and stable cash flow.