Self-storage developer The Natchez Group received preliminary approval in late December to build a new facility in Hendersonville, Tenn. The company is working with the city’s planning department to finalize the project design and hopes to break ground in the spring, according to a press release.
The property at 281 E. Main St. will comprise 70,000 square feet of storage space. Features will include climate control, keypad entry and video cameras.
“This site is an infill location and in an area with solid incomes. The surrounding competitors offer older, first generation, non-climate-controlled product,” said Beau Fowler, managing partner. “We believe this new project will lease up at a rapid pace with very strong rent rates.”
Natchez has yet to secure financing for the development, but anticipates working with a local or regional bank, the release stated.
The developer has several projects underway in the state, including a three-story facility in Spring Hill. Its two other projects, in Franklin and Nashville, are being developed in a joint venture with Atlas Real Estate Partners, a New York-based private investment firm.
The Natchez Group focuses on self-storage development and investments in Central Tennessee and the Southeast. In the past four years, the company has been involved in more than 500,000 square feet of self-storage projects.