NitNeil Partners, an Atlanta-based real estate development and investment firm specializing in self-storage, has broken ground on a $6 million facility in Huntsville, Ala. Completion of the multi-story project is slated for January 2018, according to the source.
The property at 6925 U.S. 72 W. is near Capital Park apartments and Audi Huntsville, a car dealership. It will comprise 90,000 square feet of storage space in 645 climate-controlled units. Property features are to include two entry points with PIN-code access, motion-activated cameras and an elevator.
Growth in the neighborhood and the revitalization of the nearby Cummings Research Park, a science and technology business center, drew the company to the area, according to Val Sapra, founder of NitNeil. “The surrounding business and residential communities are demanding a quality, climate-controlled self-storage facility that is not currently available in the area today," he said.
NitNeil has other developments underway in Alabama, Florida and North Carolina. It has completed projects in Georgia, Kentucky, South Carolina and Tennessee. Through strategic partnerships, the company hopes to expand into new markets including Arizona, Colorado and Texas, the source reported. In addition, the firm recently expanded its leadership team to include David Robinson as director of construction and Andrew Guinn as director of investments.
NitNeil Partners is a regional investment firm that specializes in the acquisition, development and management of commercial real estate, including self-storage. Its storage portfolio comprises eight facilities totaling nearly 500,000 square feet of storage space.