Atlanta & Southeast + Carolinas + Retail | January 18, 2023

Rivercrest Realty Investors has purchased a 93,000-square-foot property within Union Village in Monroe, NC for conversion to a self-storage facility.

Rivercrest Realty Investors Eyes Transformation of Monroe Purchase into Self-Storage Facility

Raleigh, NC-based Rivercrest Realty Investors has purchased a 93,000-square-foot property within Union Village in Monroe, NC with plans to redevelop the building into a self-storage facility. Union Village is located on W. Roosevelt Boulevard and anchored by Tractor Supply and Office Max.

Phil Corriher of Colliers | Charlotte represented the seller in the transaction.

According to professional services and investment management company Colliers, retail properties are going through a post-Covid transitional stage in how they are utilized by customers, retailers, and owners and allowing for self-storage development to be on the rise. In 2021, Statista Research Development valued the global self-storage market at $48.02 billion and predicted the sector to reach a value of $64.71 billion by 2026, calculating a 5.45% annual growth rate.

Founded in 1969, Rivercrest Realty Investors is a privately owned and operated commercial real estate company specializing in the acquisition and development of shopping centers and self-storage facilities.

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Colliers' Corriher

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.