Matson Development building 642-unit self-storage facility
A Tri-City construction business with roots in excavation work is building a $5 million self-storage facility in western Kennewick.
Kennewick-based Matson Developoment Co. is constructing its 80,000-square-foot project at 9501 W. 10th Ave. It will offer 642 storage units for rent. Construction should wrap by this fall.
The storage facility is owned by Matson Storage LLC and will be run by the property management arm of West Coast Self-Storage, an Everett-based company that provides third-party management services. The
Kennewick property will operate under the name Summit Storage.
Rental rates have not been determined.
Self-storage has been a strong performer during the Covid-19 pandemic. In a 2020 report on the market, real estate firm Marcus & Millichap said rental rates rose in part because of household consolidation. Owners were reluctant to raise rent during the crisis, but the long-term outlook is strong.
Self-storage expanded by more than 20% in Washington and Oregon between 2016-20, according to Marcus & Millichap.
The Tri-Cities is no exception. Several new storage projects have come online in the past year. Last fall Broadmoor Storage Solutions Inc. added 149 units in a $3 million expansion of its Sandifur Parkway property in Pasco.
Matson’s property was slated for a storage project when Matson Development bought it.
Teresa Matson, business manager, said the company decided to go with the plan after conducting a feasibility study. While there are many competitors, there is good demand, according to the study.
“It’s a strong market in the Tri-Cities,” she said.
It took the eye of an excavator to make the sloped property on 10th work, Matson said.
Crews moved about 50,000 cubic yards material – 23,377 cubic yards of cut and 28,327 cubic yards of fill, she said.
Matson Development branched into commercial development to create business for its excavation work. Prior commercial projects include a pair of steel buildings offering warehouse and office space on Jackrabbit Lane.
Matson is the developer for the ministorage project. Hummel Construction & Development is the contractor, as it was for the Jackrabbit Lane project.
Developing commercial projects is no mere sideline for the excavation business. It is a passion for co-owners Travis and Ben Matson.
“We’re not slowing down,” Teresa Maton said. “We’re continuing on. This is what we love to do.”