In a move to diversify SRC Holdings Corp.'s investment portfolio, the well-known Springfield-based manufacturing company just opened a 300-unit self-storage center.
Behind the SRC Holdings Corp. manufacturing facility that sits at the intersection of Sunshine Street and Enterprise Avenue, the company just opened Enterprise Self Storage, according to a May 14 SRC press release.
Located at 1610 S. Enterprise Ave., the storage facility offers units ranging in size from 10-by-5 feet to 12-by-40-feet, according to the release. It has units available for boat and vehicle storage, and features all-hours video surveillance.
“It's hard to find storage space, especially in town,” Dennis Sheppard, general counsel at SRC, said in the release. “We're trying to fix that.”
Enterprise Self Storage is the latest step in SRC's decade-long plan for diversification, including real estate development, according to the release. The $100-million plan was announced in 2021 and includes development at four Springfield properties, as well as an acquisition of a facility in Lexington, Kentucky. By the end of 2030, the the company expects to have a building footprint that covers about 3.5 million square feet.
“Opening the storage facility helps us to more efficiently utilize our land and diversify our income while meeting the high demand for storage in the Springfield community,” Sheppard, who has led the development initiative since it launched three years ago, said in the release.
Enterprise Self Storage can be booked on the company website and tenants can begin moving their belongings into units, according to the release. The self-storage facility has already received many reservations.
“This has been a fun project to work on, and we're excited to be opening our doors,” Kim Bell, property manager at SRC, said in the release. “We've already had a lot of reservations from members of the community, and we're excited to see the growth this brings for our employee-owners.”
