Self-storage developer Arcland Property Co. has proposed a land exchange with Arlington County, Va., that would enable it to build a six-story, 150,000-square-foot storage facility on land near Washington-Lee High School. Under the proposal, Arcland would exchange 3.5 acres it owns on South Shirlington Road for 2.3 acres on North Quincy Street. The properties are adjacent.

Arcland already leases a portion of the Shirlington land to the county for bus parking. The deal would provide the county a permanent spot to park buses and expand its fleet. It would also save $4 million in lease payments. The county agreed to buy 6.1 acres on North Quincy in 2015 for $30 million. Arcland would get a portion of the parcel, known as the Buck property, closest to North Quincy. The developer intends to use only 1.2 acres of the land for the self-storage facility and lease the remaining 1.1 acres back to the county “at below market rate,” a source reported.

Though the Buck property is already zoned for light-industrial use, which includes self-storage, the county would require a building design that aesthetically fits in with the community and meets set-back and height restrictions, according to a source. Arcland developed a CubeSmart self-storage facility that’s also adjacent to the two properties discussed in the proposed exchange.

“This is a rare opportunity for the county to secure land in Shirlington, zoned for light-industrial use, that could accommodate our growing bus fleet,” county manager Mark Schwartz said in a released statement. “We have a critical need for support facilities, and must make smart, tough decisions about land to meet those needs. If the [county board] is interested in pursuing this proposal, I will work to shape an agreement with Arcland. I am confident that we can put facilities on these sites that will both serve our community’s needs and allow us to be a good neighbor.”

If approved, the land swap would occur after Nov. 20, 2017, which is when the county is expected to exercise its option to close on the Buck property. The county board is expected to discuss the proposal during its Dec. 13 meeting, but would most likely vote only on whether to enter negotiations with Arcland, a source reported.

Based in Washington, D.C., Arcland is a real estate development and investment company specializing in self-storage acquisitions and development, including conversions, according to its website.

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