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Washington DC & Mid-Atlantic  + DC Metro  + Retail  |  June 15, 2021
David Cohen
By: David Cohen

Metro D.C. Self-Storage Facility Trades for $18M

Big Cypress Capital, along with strategic operating partner PSG, has divested from a newly-constructed self-storage facility in District Heights, M.D. The sales price was reported as $18.2 million.

Located at 7618 Marlboro Pike, the climate-controlled facility was sold to Extra Space Storage, a global self-storage REIT. The 110,000-square-foot property includes 900-units across three stories.

”The successful sale of this Class-A facility to one of the leading global self-storage REITs demonstrates our teams’ abilities and commitment to developing high quality properties within carefully targeted geographic areas most likely to generate strong institutional interest and peak development yield alpha,” said Max Mazzone, CEO at Big Cypress.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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