Charlotte-based Morningstar Storage has closed on a piece of land just north of uptown for its newest development, a real estate brokerage said Tuesday.
An affiliate of Morningstar paid $1.25 million for the 1.5-acre site at 924 North College Street. That’s off 12th Street, a block from the Interstate 277 loop.
The company has already filed preliminary permits to demolish the 18,000 square-foot, one-story industrial building on the site. The building would total about 97,000 square feet, with 29 parking spaces, according to plans.
Jim Plyler of Piedmont Properties/CORFAC International represented the building’s owner, Harry Parker Inc. That company, founded in 1929, operated as a food service equipment distributor, originally at 301 South College Street. They relocated from that site, which is now Two Wells Fargo Center, to their current location in 1971.
Self-storage facilities have been undergoing a boom in Charlotte along with apartments, as more urban dwellers need space to store their stuff. Many of the new self-storage facilities are in urban locations such as the Morningstar project, including sites on West Morehead Street and near Plaza Midwood.