Fred Simanek of Power Partners LLC tells GlobeSt.com that the investment group paid $700,000 for the acreage at the intersection of 83rd Avenue and Union Hills Drive and will build a $1.7-million storage facility on the site. Construction on Peoria Self Storage should be completed by second quarter 2003, Simanek said.

"It's a real hotspot," Simanek said of the site, which is located near a planned Super Wal-Mart, Sam's Club and Sonic Burger. An Auto Zone, car wash, gas station and daycare center will also be located adjacent to the facility. Designed in a contemporary Southwest style, the facility will serve the residents of Glendale, Peoria and the Fletcher Heights master-planned community.

Simanek said the investment group also developed a storage facility in Mesa, the Augusta Ranch Self Storage, which sold in May. The partnership also owns about six other storage facilities in southern California, he said. Santa Barbara Bank and Trust is providing the project's construction loan.