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Johnston Corners self storage in Charlotte, NC

Charlotte Self-Storage Facility Switches Ownership For $22M

Abacus Capital, WDM Family Enterprises and Big Cypress Capital — through its Headwaters Strategic Operator Platform — have sold Johnston Corners, a 117,405-square-foot self-storage facility in Charlotte, NC, for $21.8 million.

The venture sold the five-story, newly constructed property on Johnston Road to an unnamed global asset manager 38 months after initially closing on the land.

The sale represents Headwaters’ third self-storage facility realization for its six-property, 655,000-aggregate-square-foot, Class A “build-to-core” self-storage portfolio targeting high growth East Coast submarkets.  Headwaters’ other two exits within the past six-month period include its metro Washington, DC and South Tampa’s Westshore Marina District properties, which were purchased by Extra Space Storage and Public Storage, respectively.

Headwaters’ self-storage portfolio includes a property in downtown Durham, NC that represents its second self-storage collaboration with Abacus and WDM and is expected to deliver in mid-2022.

Cushman & Wakefield self-storage advisory group represented the sellers.

Photo: Big Cypress Capital, Abacus Capital and WDM Family Enterprises

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition