Metro Storage is building its ninth Twin Cities storage facility in Coon Rapids, company officials said Monday adding that they expect the latest structure to be completed next year.
Illinois-based Metro Storage recently paid Shamrock Development Inc. $2.2 million for 6 acres of land at 3021 124th Avenue in Coon Rapids.
The $9 to $10 million project involves building a three-story self-storage facility there that will have about 130,000 square feet of space for 908 units. It will also feature drive-through access, motion-sensor lighting, security cameras and a communication system that connects each storage unit with the main management office.
The new facility will be just west of the Lowes Home Improvement store and just east of Riverdale Commons retail mall.
Blair Nagel, chief executive of Metro Storage, said the area is "an established retail hub and it just brings in the foot traffic that we really look for when we are looking for a site. We look at density and household income and traffic counts, and we want to have a dynamic retail presence around us."
He expects about 70% of customers will be residential users and 30% retail users.
The 47-year-old Metro Storage separately operates 125 facilities in at least 12 states. Its Minnesota operations are in Bloomington, Maple Grove, Mound, Orono, Blaine, Burnsville, Mendota Heights and Eden Prairie.
Minnesota is home to about 718 self-storage facilities, according to the website Self-Storage.com.