Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
DXD Capital Breaks Ground on Nantucket Self-Storage
DXD Capital, a private equity investor and self-storage developer, broke ground on a Class A, climate-controlled storage facility in Nantucket, MA. The facility, located at 10 Davkim Ln., will provide 667 individual storage units totaling 96,238 net rentable square feet.
Park East Construction Company will serve as general contractor, Centerville Bank will be the construction lender, and SmartStop will manage this facility.
The property was acquired in July. To date, DXD has invested in 19 self-storage developments and one seven-facility portfolio acquisition across the U.S.
“Finding an opportunity to build self-storage on Nantucket is as good as it gets in our business,” said principal Cory Sylvester. “The barriers to competition are extremely high and the rental rates are some of the strongest in the country. We are on the hunt for these two factors every day, and we are beyond excited that we were able to source this generational opportunity on the island.”
- ◦Development
