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Release originally appeared on reJournals.com
StorCo Storage has purchased the O’Fallon Square Shopping Center in O’Fallon, Missouri, and plans to build a 100,000-square-foot self-storage facility inside one of the strip center’s two existing freestanding buildings.
The new two-story, climate-controlled StorCo Storage will include 53,737 square foot of space formerly occupied by Attitude Trampoline Park and Shop N Save along with a new second floor to be added.
Other current tenants at O’Fallon Square, including the At Home Superstore, Vantage Credit Union, Fantastic Sam’s and five other retailers, will remain in the center’s other existing building. That 13,000-square-foot building also has 3,000 square feet of retail space available for lease.
O’Fallon Square is a neighborhood shopping center located at the northwest corner of Highway K and Veterans Memorial Parkway in O’Fallon. O’Fallon-based StorCo is a provider of secure, climate-controlled indoor self-storage facilities. StorCo purchased the property for $4.4 million from O’Fallon Square Properties, LLC and closed on the purchase the week of Dec. 2, 2019.
StorCo will move its headquarters, including a call center and corporate offices, to the seven-acre O’Fallon Square campus.
American Bank of Missouri is providing $7.5 million of acquisition and construction financing to StorCo Storage for the O’Fallon Square project. Tim McFarland of Sansone Group and attorney Patrick Wittenbrink of Carmody MacDonald, PC represented StorCo Storage in the transaction. Scott Seyfried of Pace Properties represented the seller.