DXD Capital Finishes 63K SF Toms River, NJ Self-Storage Development

DXD Capital, a private equity investor specializing in self-storage, has unveiled a new Class A, climate-controlled storage facility at 671 Batchelor Street, Toms River, New Jersey. This state-of-the-art facility features 761 individual storage units, spanning a total of 62,818 net rentable square feet. The four-story building is equipped with multiple elevators and a drive-in loading area for convenience.

Acquisition and Investment Background

The property was acquired in June 2022 through DXD's inaugural fund, DXD Self Storage Fund I, which successfully raised $63 million in committed capital. Following the launch of its second fund in June 2022, DXD has expanded its portfolio with investments in seven self-storage facilities and one seven-facility portfolio across the United States.

Management and Operational Details

Public Storage, a prominent name in the storage industry, will manage the Toms River facility, ensuring professional oversight and customer service.

Strategic Insights and Investment Rationale

Drew Dolan, principal and fund manager at DXD Capital, shared insights into the investment decision. He highlighted the attractive storage rates on the Jersey shore as a key factor. Additionally, Dolan noted that the site's zoning code presented significant challenges, making the establishment of a self-storage facility at this location a unique and valuable achievement.

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