U-Haul to Produce Jobs, Self-Storage with Land Acquisition in San Antonio

Rhea-AI Summary

U-Haul acquires 11-acre land in San Antonio to build a new self-storage, retail, and moving center. The facility will include over 750 indoor climate-controlled self-storage rooms and various moving services. U-Haul plans to hire 14 team members locally and continues to promote sustainability through its shared-use business model and environmental initiatives.

Insights

Market Research Analyst

The expansion of U-Haul's operations into San Antonio with a new self-storage and moving center represents a strategic investment in a growing market. Texas, being named the No. 1 U-Haul Growth State, indicates a significant trend in migration patterns and the corresponding demand for moving and storage services. The facility's inclusion of over 750 indoor climate-controlled self-storage rooms aligns with consumer preferences for high-quality storage solutions. The addition of truck and trailer rentals, as well as other moving supplies, suggests a comprehensive approach to meeting customer needs in the relocation process.

Furthermore, the company's commitment to sustainability through initiatives such as truck modifications for better fuel economy and the Adaptive Reuse program demonstrates an awareness of environmental concerns which can resonate with eco-conscious consumers. The U-Box Load Share being recognized as environmentally friendly could enhance U-Haul's brand image and appeal to a segment of the market that prioritizes sustainability.

Economist

The planned hiring of 14 team members for the new U-Haul store in San Antonio not only contributes to local job growth but also reflects broader economic trends. By prioritizing the hiring of veterans, U-Haul aligns with social responsibility initiatives and potentially benefits from the skills and discipline veterans bring to the workforce. The investment in the local economy can have a multiplier effect, as employment growth can lead to increased consumer spending and support for surrounding businesses.

Additionally, the investment in a new facility may be indicative of a favorable economic forecast for the region. As infrastructure expands to accommodate growing populations, related industries such as real estate, retail and service sectors may experience a positive impact, potentially contributing to the city's economic vitality.

Financial Analyst

The financial implications of U-Haul's land acquisition and development of a new facility in San Antonio could be significant. Capital expenditures for the construction of the three-story building and the acquisition of the 11-acre land parcel will likely be substantial. However, the investment in a high-demand area could yield substantial returns in the form of long-term rental income from storage units and recurring revenue from moving supplies and equipment rentals.

U-Haul's financial performance will depend on the company's ability to effectively manage construction costs, maintain competitive pricing and achieve high occupancy rates for the storage units. The project's success could serve as a model for future expansions and influence the company's stock market valuation by signaling growth potential to investors.

SAN ANTONIO, Feb. 1, 2024 /PRNewswire/ -- A new U-Haul^® self-storage, retail and moving center is coming to San Antonio thanks to the recent 11-acre land acquisition at 7616 NW Loop 410.

The target completion date for U-Haul Moving & Storage of Ingram Park is early 2026. U-Haul acquired the property on Jan. 23.

The facility will include a three-story building with more than 750 indoor climate-controlled self-storage rooms with high-end security features at affordable price points. Customers will also have access to truck and trailer rentals, boxes and moving supplies, towing equipment and professional hitch installation, U-Box^® portable storage containers, propane and more. This will be the 16th Company-owned and -operated store in San Antonio.

"San Antonio is a moving destination," said John Martinez, U-Haul Company of San Antonio West president. "For the third year in a row, Texas was named the No. 1 U-Haul Growth State. The amount of U-Haul traffic coming into Texas, and into San Antonio, is substantial. We have to continue expanding our footprint to serve the influx of residents and their self-storage needs."

Reserve equipment on the U-Haul app or contact Reservations at 1-800-GO-UHAUL.

U-Haul intends to hire 14 Team Members to staff the new store. U-Haul will look to hire locally to promote job growth within the San Antonio community. U-Haul, honored as a Best for Vets 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.

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.

FAQ

What is the target completion date for U-Haul Moving & Storage of Ingram Park?

The target completion date is early 2026.

How many indoor climate-controlled self-storage rooms will the facility have?

The facility will have more than 750 indoor climate-controlled self-storage rooms.

How many team members will U-Haul hire for the new store?

U-Haul intends to hire 14 team members for the new store.

What sustainability initiatives is U-Haul promoting?

U-Haul promotes sustainability through its shared-use business model, truck modifications for fuel economy, and the U-Box Load Share program, which was named the 2023 Best in Biz gold winner for the Most Environmentally Friendly Service of the Year.