The property is half a mile from the Chattanooga Convention Center and accessible from the central business district, the University of Tennessee at Chattanooga campus and the Lookout Mountain neighborhood.
“The Southside Historic District is transitioning from industrial to vibrant and welcoming, and we are excited to be part of this movement,” Sapra said. “This facility has been designed to a high-architectural standard and will fit right in with the aesthetic of the area.”
The facility is Uncle Bob’s sixth in the area. “The city of Chattanooga has always been kind to Uncle Bob’s, and we are confident our customers will enjoy this new downtown facility,” said William Tierney, area manager of Uncle Bob’s Chattanooga storage facilities. “We look forward to continue serving the greater Chattanooga area.”
Uncle Bob’s Self Storage is owned by Sovran Self Storage Inc., a real estate investment trust that acquires and manages self-storage facilities. The company operates more than 450 facilities in 25 states.
NitNeil Partners, an Atlanta-based real estate development and investment firm specializing in self-storage, has expanded into the Tennessee market with the development of a three-story storage facility in the Southside Historic District of downtown Chattanooga. The company recently broke ground on the building, which will be comprised of 57,545 square feet and feature climate-controlled units.
"Downtown Chattanooga has emerged as an attractive destination for entrepreneurs and residents that are seeking a great quality of life," said Nitesh K. Sapra, company principal. "This facility will provide support to the residential and economic growth that the city is currently experiencing."
The Chattanooga facility is expected to be completed next spring. The company recently completed a similar facility in the Inman Park neighborhood of Atlanta, officials said.
NitNeil Partners is a regional investment firm that specializes in the acquisition and development of self-storage properties. The company owns 14 facilities comprising more than 700,000 square feet of rentable space.