In July 2021 Symmetry Management acquired a 1.89 AC land parcel in Ferndale, Michigan. The site had remained unused for years, Symmetry Management saw the opportunity for re-development of the existing warehouse totaling approximately 56,134 SF.
The project is a joint venture between Symmetry Management, Extra Space Storage, and Ronnisch Construction, which will transform the existing facility into a state-of-the-art self-storage facility with approximately 600 units. The project is slated for completion in Q1 2023.
The site is excellently located off 9-mile with immediate access to I-75 which collectively sees over 17,000 vehicles per day. In a 5-mile radius surrounding the subject property, there are approximately 386,319 residents and 156,649 households. Due to the dense population and heavy traffic flow, Symmetry management was able to identify and fill an immediate demand for self-storage in the market.