Pearl City storage facility due in '05

By Andrew Gomes
Advertiser Staff Writer

Local real estate development firm MW Group plans to start construction of a 115,000-square-foot self-storage facility in Pearl City today in anticipation of a summer 2005 opening.

The project on Kamehameha Highway near Ka'ahumanu Street will be almost as big as a typical Costco or Home Depot store but spread over four stories with about 1,250 storage units from 16 to 300 square feet each.

Hawaii Self Storage-Pearl City will be MW's fifth self-storage facility in the state, and is part of a steady industry expansion that involves small players and big corporations.

Earlier this year, California-based giant Public Storage Inc. initiated plans to develop its seventh O'ahu storage facility at a site on Kapi'olani Boulevard.

Mike Wood, an MW principal, tied the demand for storage space to the state's booming housing industry. "Living on O'ahu means smaller homes, no basement, and little attic and garage space — all of which create a strong demand for storage," he said.

MW owns downtown office building Pioneer Plaza and developed the assisted-living rental complex The Plaza at Punchbowl among other real estate investments. The company entered the local self-storage market in 2001 by developing the $15 million, 180,000-square-foot Salt Lake Self Storage in Mapunapuna.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.