Development-Management Inc. (DMI) is developing a new self-storage facility in the historic South End of Charlotte, N.C. The company acquired the 3.5-acre site at 536 W. Tremont for $1.5 million last year as part of a bankruptcy sale, according to a press release. Expected to open next year, the facility will be DMI’s sixth property in the city and ninth in the Carolinas.
Construction on the two-story, 120,000-square-foot facility between South Tryon Street and Toomey Avenue will begin later this year. Once complete, the building will feature 98,000 square feet of rentable storage space. It will also include a wine cellar and an “industrial chic aesthetic” that will be consistent with the neighborhood, the release stated. The facility’s design will work with the site’s existing grades to allow customers to access lower-level storage units from the front of the property and the upper level from the back of the building by car, eliminating the need for stairwells or elevators.
“With this rare investment opportunity, we will introduce a modern self-storage facility in Charlotte’s South End, one of the nation’s hottest submarkets for multi-family development, while providing highly competitive rates to our customers,” said Ivon Rohrer III, vice president.
Founded in 1976, Charlotte-based DMI has developed more than 25 shopping centers totaling nearly 3 million square feet in the Carolinas and Virginias, and leases and manages 12 shopping centers totaling 850,000 square feet. Through its self-storage arm, DMI Storage, the company has nine self-storage facilities under development or management in the Carolinas.
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