Irmo

PrimeSpace Capital Advances Redevelopment Plans for Property in Irmo, South Carolina

PrimeSpace Capital has always viewed redevelopment as an opportunity to create lasting value for both our properties and the communities we serve. Since acquiring the property at 7949 Broad River Road in 2021, we have remained committed to revitalizing the site through thoughtful investment and long-term planning. Today, that commitment continues as we advance the next phase of redevelopment at our PrimeSpace Storage property in Irmo, South Carolina.

Following a public planning process, the Town of Irmo recently approved the rezoning of the property, allowing the project to move forward under a series of development conditions designed to enhance both the site and the surrounding community.  

When PrimeSpace Capital acquired the property in 2021, the former Bi-Lo grocery store, which had been vacant for approximately eight years, presented an opportunity for redevelopment. The space was transformed into a modern storage facility, bringing new life into the property's former anchor location.

Following the transition from CubeSmart to PrimeSpace Storage, direct oversight of the property's operations has strengthened our understanding of the self-storage industry and provided valuable operational insights. Managing the property firsthand has allowed us to continually refine our property and asset management approach while identifying opportunities to improve both the customer experience and long-term asset performance. Those lessons have directly informed the next phase of redevelopment at the property and PrimeSpace's approach to property and asset management as a whole.

While that redevelopment successfully revitalized the former grocery store, several neighboring retail suites remained vacant. Over the following few years, we actively marketed the available space and engaged with prospective tenants, including national retailers. Despite significant leasing efforts, changing market conditions made it increasingly difficult to secure long-term occupants. As responsible owners, we believed it was important to adapt to these realities and identify a solution that would create lasting value for both the property and the surrounding community.

To address this challenge, PrimeSpace Capital is redeveloping a portion of the existing retail center by transitioning some of the long-vacant retail space to self-storage while constructing a new 41,260-square-foot self-storage building on the existing site. This expansion will complement the PrimeSpace Storage operation already serving customers at the property, better utilize underperforming space, and respond to continued demand for high-quality self-storage in the Irmo market.

Throughout the planning process, we have worked closely with town officials and planning staff to ensure the project reflects community standards and enhances the appearance of the corridor. In addition to the new facility, the redevelopment includes upgraded landscaping and buffer areas, façade improvements to the existing retail buildings, parking lot resurfacing and restriping, updated signage, and stormwater improvements. Together, these enhancements are designed to improve both the functionality and visual appeal of the property while creating long-term value for the community.  

This project reflects PrimeSpace Capital's continued commitment to investing in high-quality real estate while revitalizing existing properties through thoughtful redevelopment. We appreciate the collaboration of the Town of Irmo throughout the planning process and look forward to bringing these improvements to the property while continuing to invest in the Irmo community.