U-Haul Acquires 2 Existing Self-Storage Facilities in Pueblo County

Rhea-AI Summary

U-Haul acquires two former Freedom Self Storage properties in Pueblo County to enhance its moving and storage services in Colorado. The acquisitions will cater to the growing customer base with expanded self-storage units, vehicle storage spaces, and additional moving supplies. The company plans to introduce U-Box warehouses and climate-controlled options at both locations, aiming to provide convenient and sustainable solutions to the community.

Market Research Analyst

The acquisition of two self-storage properties by U-Haul in Pueblo County represents a strategic expansion in a growing market. The addition of these facilities is likely to enhance U-Haul's competitive edge by increasing its capacity to serve the local demand for storage and moving services. This move could potentially lead to increased revenue streams from both storage unit rentals and auxiliary moving services. By expanding in an area where the company has an established presence, U-Haul is also reinforcing brand loyalty and reducing the risk associated with entering new markets.

From a market research perspective, the emphasis on adding climate-controlled units and U-Box warehouses indicates an adaptation to consumer trends favoring more secure and versatile storage solutions. Furthermore, the investment in sustainability initiatives, such as the Adaptive Reuse program, not only appeals to environmentally conscious consumers but may also result in long-term cost savings through reduced resource consumption and potential tax incentives for green business practices.

Financial Analyst

The financial implications of U-Haul's property acquisition must be evaluated in terms of capital expenditure, expected return on investment (ROI) and impact on the company's balance sheet. Given U-Haul's position as an industry leader, the capital allocation for these purchases is likely a calculated move to leverage economies of scale and boost operational efficiency. It's essential to monitor how these acquisitions contribute to the company's asset base and overall financial health. This includes assessing the occupancy rates of the new storage units, the utilization of rental equipment and the uptake of new services like the U-Box warehouses.

Investors should note the timing of these acquisitions, as they could indicate a strategic move to capitalize on specific market conditions, such as increased demand for storage in Pueblo County. The long-term value generated by these assets will depend on their integration into U-Haul's existing network and the company's ability to optimize their operations for maximum profitability.

Sustainability Consultant

U-Haul's commitment to sustainability through initiatives such as truck and trailer sharing, Adaptive Reuse and the U-Box Load Share program, which recently received an award, is noteworthy. The shared-use business model not only reduces the environmental footprint but also aligns with current consumer expectations for eco-friendly business practices. This approach can serve as a differentiator in the market, potentially attracting customers who prioritize sustainability when choosing service providers.

However, the effectiveness of these green initiatives must be quantified to understand their true impact on the environment and on the company's brand reputation. It is also important for the company to transparently report on the progress and outcomes of these initiatives to maintain credibility with stakeholders. The long-term benefits of such programs can include cost savings, improved customer loyalty and alignment with global sustainability goals, which may positively influence investor sentiment and the company's social responsibility profile.

PUEBLO, Colo., March 15, 2024 /PRNewswire/ -- U-Haul^® announced its purchase of two former Freedom Self Storage properties in Pueblo County. They are at 469 E. Spaulding Ave. in Pueblo West and 827 Village Circle in Pueblo.

The properties, now U-Haul Moving & Storage of Pueblo West and U-Haul Moving & Storage of University Park, respectively, were acquired on Feb. 14. The acquisitions will enable U-Haul, the industry leader in DIY moving and self-storage, to better meet the needs of its growing customer base in Colorado.

U-Haul of Pueblo West offers 269 self-storage units and 53 RV, boat and vehicle storage spaces for rent. U-Haul of University Park offers 215 self-storage units and 28 vehicle storage spaces. The locations also provide customers with access to moving trucks and trailers, boxes, moving supplies and more. Storage customers can attain extended-hours access.

Plans call for the addition of U-Box^® warehouses at both properties. The buildings will be used for the storage of hundreds of  portable moving containers. U-Haul of Pueblo West will also offer truck and trailer rentals, boxes and moving supplies, towing equipment and more. Climate-controlled self-storage options will also be added to the facility.

Download the U-Haul app or contact Reservations at 1-800-GO-UHAUL.

"U-Haul has been looking to grow its storage footprint in Pueblo County for years," said Randi Crompton, U-Haul Company of Southern Colorado president. "By acquiring these existing self-storage facilities, we're able to bring our services closer to residents who need them. U-Haul has been a staple in the Pueblo community since the 1980s and we're excited to expand our network of convenient locations."

U-Haul continues to benefit the environment through its shared-use business model. Truck and trailer sharing enables communities to share moving equipment so that families and individuals don't need to own large-capacity vehicles to transfer belongings. Sustainability initiatives like U-Haul Adaptive Reuse (the preserving and repurposing of existing buildings for new stores), truck modifications to improve fuel economy, and plastic Ready-To-Go Boxes^® that are shared hundreds of times before being recycled are among the many ways U-Haul promotes green business. U-Box Load Share, the Company's latest sustainability program, was just named the 2023 Best in Biz gold winner for the Most Environmentally Friendly Service of the Year.

About U-HAUL

Founded in 1945, U-Haul is the No. 1 choice of do-it-yourself movers with more than 23,000 rental locations across all 50 states and 10 Canadian provinces. The enhanced U-Haul app makes it easier for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and self-return options on their smartphones through our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 192,200 trucks, 138,500 trailers and 44,500 towing devices. U-Haul is the third largest self-storage operator in North America with 967,000 rentable units and 83.3 million square feet of self-storage space at owned and managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play.

Contact:
Andrea Batchelor
Jeff Lockridge
E-mail: publicrelations@uhaul.com
Phone: 602-263-6981
Website: uhaul.com

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SOURCE U-Haul International, Inc.

What properties did U-Haul purchase in Pueblo County?

U-Haul acquired two former Freedom Self Storage properties located at 469 E. Spaulding Ave. in Pueblo West and 827 Village Circle in Pueblo.

What services will be offered at U-Haul of Pueblo West?

U-Haul of Pueblo West will offer 269 self-storage units, 53 RV, boat, and vehicle storage spaces, moving trucks and trailers, boxes, moving supplies, and extended-hours access for storage customers.

What sustainability initiatives does U-Haul promote?

U-Haul promotes sustainability through shared-use business models, truck modifications for fuel economy, plastic Ready-To-Go Boxes that are recycled after multiple uses, and U-Box Load Share program, recognized as the Most Environmentally Friendly Service of the Year in 2023.

How can customers access U-Haul services?

Customers can download the U-Haul app or contact Reservations at 1-800-GO-UHAUL to access U-Haul services.