Self-Storage Venture WMG Partners Acquires Pennsylvania Department Store for Future Development

Developers to build state-of-the-art facility to be managed by Life Storage in York 

WMG Partners, a subsidiary of Miami-based MCSS Self-Storage Development & Investment, closed its latest acquisition and unveiled plans for a self-storage conversion. The venture purchased a shuttered department store in York, Pennsylvania and plans to deliver a climate controlled state-of-the-art self-storage facility to be managed by Life Storage.

The 126,000-square-foot department store building is located on 7.5 acres at 2899 Whiteford Road. It was previously occupied by Bon-Ton.

Financial details were not disclosed. The transaction closed on April 27, 2021.

WMG’s ownership group has nearly three decades of self-storage ownership and development experience, with more than 60 facilities built and operated in core U.S. markets.

“The repurposing of this prime building represents one of many new self-storage opportunities for WMG and its investors,” Michael Yavner, WMG’s director of capital markets. “It accommodates pent-up demand for high-end self-storage product in the surrounding area.”

WMG is targeting redevelopment and ground-up self-storage development opportunities in urban infill markets throughout the nation. Its partners have successfully completed and leased up facilities in South Florida, New York, California, Washington D.C., Massachusetts, and other major metropolitan areas.

About WMG:

The sponsor’s ownership group has participated in the ownership and development of over 60 self-storage facilities over the past 26 years. See the sponsor’s website, for additional information.