DXD Self Storage Fund I made its first investment this Wednesday, December 9th. The acquisition is a 1.7 acre infill tract in Las Vegas, Nevada made after DXD was able to secure the necessary approvals from Las Vegas County, a condition to purchase the property. The 121,995 gross square foot facility is currently in design and will have 1,133 units. The fund anticipates it will be operated by Public Storage.
DXD’s strategic partner, Radius+, has shown Las Vegas as one of the strongest self storage markets in the country. As of December 11th, 10x10 climate controlled rates are up twelve percent year-over-year and average occupancy in Public Storage facilities within the three-mile trade area was 95% as of September 2020.
DXD anticipates groundbreaking in June of 2021. Follow our Linkedin page for more updates about this project!