What's Happening?
DXD Capital has commenced construction on a new Class-A self-storage facility and retail space in Mount Pleasant, South Carolina. The project, located at 415 W. Coleman Boulevard, will feature over 800 climate-controlled storage units and 4,978 square
feet of retail space. This development is part of a partnership with CrossHarbor Capital Partners, aiming to expand self-storage facilities across the U.S. The facility is expected to open in the summer of 2027, with construction financing provided by United Community Bank.
Why It's Important?
The project highlights the growing demand for self-storage solutions in high-growth markets like Mount Pleasant. By integrating retail space, the development aims to serve both residential and commercial needs, potentially boosting local economic activity. The collaboration between DXD Capital and CrossHarbor Capital Partners reflects a strategic approach to investing in markets with high barriers to entry, ensuring long-term profitability. This development could set a precedent for similar projects in other rapidly growing areas across the country.
What's Next?
Construction will continue with an expected completion and opening in 2027. The facility will be operated by SmartStop Asset Management, a recognized self-storage operator. As the project progresses, DXD Capital and its partners will focus on marketing and leasing strategies to attract tenants. The success of this facility could influence future investments and development strategies in the self-storage sector, particularly in high-demand regions.
