U-Haul buys Dollar Storage in Calverton for $5.4 million
U-Haul is taking over the 6.35-acre Dollar Storage complex near the Long Island Expressway in Calverton.
Dollar Storage was owned by developer Julius Klein, whose Dollar Storage LLC filed for Chapter 11 bankruptcy protection in New York Eastern District Bankruptcy Court in January 2014, as did two of his other business ventures.
The property at 2080 River Road borders the eastbound lanes of the LIE and was purchased by U-Haul C0. of Long Island for almost $5.4 million, according to the town assessors’ office.
The storage center will be rebranded as U-Haul Moving and Storage of Riverhead, company officials said. There are five single-storage self-storage buildings that totals 68,000 square feet in 470 units, 168 of which are climate-controlled. Truck and vans will also be available for rent.
This will be the easternmost site of all U-Haul Co. of Long Island’s locations.
“The acquisition of Dollar Storage was driven by U-Haul’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint,” company officials said in press release. “U-Haul’s adaptive reuse of buildings eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings.”
Mr. Klein was also behind the controversial “Village at Jamesport” development on Main Road in Jamesport, before the bankruptcies.
