STOCK TITAN

Preserving Lexington: U-Haul Shares Plans for Historic Whiskey Distillery

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

U-Haul has acquired the historic James E. Pepper Distillery in Lexington, KY, to establish a new 1,400-room self-storage facility. The acquisition, finalized on October 20, 2021, will transform the 197,504-square-foot building while preserving its historical character. Services will include climate-controlled storage units and various moving supplies. This site is U-Haul's third in Lexington and 15th in Kentucky, aimed at benefiting local residents and students. The company's sustainability initiatives drive the adaptive reuse of such historic properties to lower carbon footprints.

Positive
  • Acquisition of a historic building enhances brand image and community connection.
  • The facility will provide local jobs and support the Lexington economy.
  • Sustainability initiatives align with modern consumer preferences for eco-friendly practices.
Negative
  • Market risks may arise during the renovation phase due to potential delays.
  • Investment in renovation could strain short-term financial resources.

LEXINGTON, Ky., Nov. 22, 2021 /PRNewswire/ -- U-Haul® will soon serve customers with a new 1,400-room self-storage facility at 1170 Manchester St. in Lexington thanks to the recent acquisition of the historic James E. Pepper Distillery.

U-Haul Moving & Storage of Distillery District will cater to Lexington residents, University of Kentucky students and other local colleges. The store will have indoor climate-controlled self-storage units for rent, truck and trailer sharing, towing equipment, boxes and moving supplies and more.

U-Haul acquired the sprawling 197,504-square-foot building on Oct. 20. It sits on 7.96 acres.

Christopher Minnich, U-Haul Company of Louisville president, said that his team is working closely with the tenants who are operating out of the building and will remain on the first floor indefinitely. This group includes the distillery operation.

Additionally, Minnich said he intends to maintain as much of the building's original character as possible during the renovation process as the upper floors are converted to storage rooms.

"This building dates back to 1933 and is full of the rich history this state is famous for," Minnich stated. "We are honored to preserve this piece of Lexington's past while giving it a new purpose. U-Haul has been renovating historic buildings for decades through our adaptive reuse program. We know the people of Lexington will love the finished product, and we're excited to grow our investment in this community."

The James E. Pepper Distillery was built as the primary bourbon-aging barrel house. The iconic Kentucky whiskey brand originated during the American Revolution.

U-Haul of Distillery District will be the third U-Haul-owned and -operated store in Lexington, and the Company's 15th store in Kentucky. There are also 34 independent small businesses in Lexington serving do-it-yourself movers as U-Haul neighborhood dealers.

Acquisition of the distillery property was driven by U-Haul Corporate Sustainability initiatives: U-Haul supports infill developments to help local communities lower their carbon footprint. The adaptive reuse of existing buildings reduces the amount of energy and resources required for new-building materials and helps cities reduce their unwanted inventory of unused buildings.

While U-Haul Moving & Storage of Distillery District is being renovated, other U-Haul stores and neighborhood dealers in the region are available to serve customers. U-Haul Moving & Storage of Masterson Station at 2425 Merchant St. is open 7 a.m.-7 p.m. Monday-Thursday and Saturday; 7 a.m.-8 p.m. Friday; and 9 a.m.-5 p.m. Sunday.

Once U-Haul of Distillery District is fully operational, Minnich aims to staff the facility with local hires to promote employment in the Lexington community. U-Haul, honored as a "Best for Vets 2020" leading veteran-friendly employer by The Military Times, actively recruits veterans and gives them preference in the hiring process. Find U-Haul careers at uhauljobs.com.

As an essential service provider, U-Haul continues to serve communities during the COVID-19 recovery while offering contactless business programs and enhanced cleaning protocols, including added steps for sanitizing equipment between customer transactions. U-Haul products are used daily by First Responders; delivery companies bringing needed supplies to people's homes; small businesses trying to remain afloat; college students; and many other dependent groups, in addition to the do-it-yourself household mover.

About U-HAUL 

Since 1945, U-Haul has been the No. 1 choice of do-it-yourself movers, with a network of more than 23,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to approximately 176,000 trucks, 126,000 trailers and 46,000 towing devices. U-Haul offers nearly 825,000 rentable storage units and 71.6 million square feet of self-storage space at owned and managed facilities throughout North America. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading "Best for Vets" employer and was recently named one of the 15 Healthiest Workplaces in America.

Contact:

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

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/preserving-lexington-u-haul-shares-plans-for-historic-whiskey-distillery-301430251.html

SOURCE U-Haul

FAQ

What is U-Haul's new facility in Lexington, KY?

U-Haul is establishing a 1,400-room self-storage facility at the historic James E. Pepper Distillery in Lexington, KY.

When did U-Haul acquire the James E. Pepper Distillery?

U-Haul acquired the property on October 20, 2021.

How will the new U-Haul facility benefit local residents?

The facility will offer indoor climate-controlled storage, various moving supplies, and create local jobs.

What sustainability initiatives does U-Haul have with this acquisition?

U-Haul supports adaptive reuse of historic buildings to lower community carbon footprints and reduce resource consumption.

How many U-Haul locations are in Lexington, KY?

The Distillery District location will be U-Haul's third store in Lexington.

U-Haul Holding Company

NYSE:UHAL

UHAL Rankings

UHAL Latest News

UHAL Stock Data

13.08B
19.61M
60.9%
36.68%
0.78%
Rental & Leasing Services
Services-auto Rental & Leasing (no Drivers)
Link
United States of America
RENO