DXD Capital, a self storage private equity real estate developer, announced the opening of a brand new, Class A, climate-controlled storage facility in Lake Park, FL. The facility features 738 individual storage units totaling 77,150 net rentable square feet located at 1450 Watertower Road. Lake Park is a town in Palm Beach County and part of the Miami metro area.
The four-story facility, operated by Public Storage, was set apart during construction using the innovative “Tilt-Up” method. This method enabled DXD to swiftly go vertical with a fully enclosed building, bypassing the lengthy timelines associated with traditional construction methods. This is particularly beneficial in Florida, where the sturdy concrete wall panels can withstand the region’s frequent rain and high winds.
1450 Watertower Road Lake Park, FL – DXD Capital
DC was the general contractor, and Century Bank was the construction lender. The property was acquired in July 2022 through DXD’s first fund, DXD Self Storage Fund I, which launched in November 2020 and closed with $63 million in committed capital. The company launched its second fund in June 2022 and has since invested in seven self storage projects across the United States.
Completed
Pogoda Cos., based in Michigan, announced it will manage two recently developed self-storage facilities in Detroit, MI and Dayton, OH. National Storage Detroit, located in New Center, Detroit, has 19,200 square feet of climate-controlled space in 189 units, with room to grow. It’s located in the bottom two floors of the historic Albert Kahn building and was the former home of Saks Fifth Avenue (below).
National Storage-Woodman in Dayton has 68,200 square feet spread across 677 units and is a mixture of drive-up spaces, climate-controlled units and RV/boat storage. It’s expected to add 15,000 square feet of drive-up storage by late fall. Pagoda now has 72 self-storage properties in its portfolio.Source: List Self Storage
Go Store It Self Storage, an affiliate of Madison Capital Group, opened a climate-controlled facility in Pico Rivera, about 11 miles south of Los Angeles, CA. It has 48,000 square feet of rentable storage space, with more than 600 units. The facility is immediately north of Pico Rivera Towne Center.
Hoover Storage, owned by Gerard Rockers, has opened in Jefferson City MO. It has 85 units that are 10-by-20 and 10 units that are 5-by-10. Source: News Tribune
Planned
U-Haul plans to build a retail, moving and self-storage facility at NE Peachtree Industrial Boulevard in Buford, GA. To be called U-Haul Moving & Storage of North Buford, it is scheduled to open in spring 2026. U-Haul purchased the property in March. U-Haul now owns and operates 76 company stores in Georgia, including two in Buford. Source: U-Haul
Two self-storage operations in central Medicine Hat in southeast Alberta, Canada will be allowed to expand. The two separate applications involve two different companies, both open for 10 years or more, and both are affected by space or zoning considerations. City Centre Storage is located behind business blocks on Kingsway Avenue. Storzall Mini Storage will develop an adjoining lot, on the edge of the Historic Clay District in the Flats. Source: Medicine Hat News
DXD Capital
May 31, 2024
