This article appeared in RENTV on September 21.
DXD Capital has broken ground on a new state-of-the-art 1,100-unit self storage facility located at the corner of West Sahara and South Monte Cristo Way in Las Vegas. The company acquired the 1.7-acre parcel in January 2021.
Designed by Studio Level 1 with Arco Murray serving as the general contractor, the new facility, expected to be operated by Public Storage, will feature two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators, and a storefront with moving supplies. Completion and opening are scheduled for the third quarter of 2022.
The property was acquired in January 2021 through its fund DXD Self Storage Fund I, which it launched in November 2020. The firm is raising $50 mil, which will be used to primarily invest in ground-up development of Class A, multistory, climate-controlled self storage facilities.