DXD Capital has broken ground on a new Class A storage facility in Kihei, HI. Once constructed, the facility will have 357 individual storage units totaling 45.9k sf located in the Maui Research & Technology Park in Kihei.
The project will feature drive-up, non-climate-controlled units designed to be especially helpful to the commercial customer base on Maui. The facility is expected to open in the first quarter of 2025.RYCON will serve as the general contractor, and American Savings Bank was the construction lender. Extra Space will manage this facility.The property was acquired in April 2023 through DXD’s second fund, DXD Self Storage Fund II, which launched in June 2022 and has since invested in seven self storage developments and one seven-facility portfolio acquisition across the United States.