Diamond Point Development LLC (DPD) will break ground next month on a new self-storage facility in Marietta, Ga. Expected to open in about a year, the multi-story structure at 1745 Roswell Road will comprise 102,000 square feet of storage space in 750 climate-controlled units, according to a press release.
The general contractor on the project is Atlanta-based MTC Corp. Financing was provided by State Bank & Trust Co.
“We have commissioned a third-party feasibility study to confirm that the immediate area is underserved for climate-controlled self-storage,” said DPD Principal Jason Sommer. “There are more than 20 class-A apartment complexes within a mile of the property, as well as local businesses that could all benefit from this addition to the community.”
Furthermore, the conditions in the Roswell Road submarket are improving for businesses, Sommer said. “For years, the section of Roswell Road within the 120 Loop has been a challenging area to maintain business, simply because the 120 Loop bypassed this section of Rowell Road. Presently, the Georgia Department of Transportation is planning to open 29.7 miles of Georgia Express Lanes in the northwest quarter.”
The new roads will link Roswell Road to Interstates 75, 285 and 575. “The express lanes will re-route East Cobb commuter traffic along Roswell Road, which will help revitalize the retail along the corridor,” said Reggie Copeland, councilmember for the city’s fifth ward. “The addition of the express lanes will make the Roswell Road commercial district a better place to do business.”
The DPD management team plans to engage with business owners and community residents following the facility opening. “We look forward to sponsoring quarterly events to give back to the community, including a Toys for Tots holiday party and a Beat Breast Cancer Fall Festival,” Sommer said.
DPD is led by Aaron and Jason Sommer, who are experienced in all facets of commercial real estate, including ground-up self-storage development and asset management, according to the release. The men previously developed Neighborhood Self Storage in Riverdale, Ga.