Strategic Real Estate Investment LLC (SREI), which focuses on investments in self-storage and multi-family rental properties, is seeking approval to build a Granny’s Self Storage facility in Gastonia, N.C. The planning commission will consider the proposal filed by SREI President Tex Teixeira at its Thursday meeting.
The first phase for the proposed development at 1410 Shannon Bradley Road will include two storage buildings, one of which will be climate-controlled, as well as an office. Phase two will contain three storage buildings, according to the source.
The 6.6-acre property is currently zoned for general commercial use. While storage is permitted under the zoning, the city must approve a conditional-use permit. City planners are supporting the project because development has been declining in the area for several years, the source reported. There’s an AT&T office building just north of the proposed site and a row of single-family homes just opposite; however, city staff noted the area is primarily made up of a mix of commercial and industrial uses.
The land is owned by Carolina Tractor and Equipment Co., which received approval from the city in 2008 to build a heavy-equipment rental facility, but never did. The company is now looking to sell the property, which overlooks Interstate 85.
SREI also operates a Granny's Self Storage at 4335 Kings Mountain Highway in Bessemer City, N.C. The company buys storage facilities and multi-family housing at depressed valuations in strong markets, according to its website. The company then leases the properties to middle-income earners.
- Gaston Gazette: New Self Storage Center Could Be Coming to West Gastonia
- Strategic Real Estate Investment LLC: Website