NitNeil Partners, a real estate investment firm that acquires and develops self-storage facilities, is assembling a new portfolio after selling 22 self-storage properties in August to real estate investment trust Life Storage Inc. NitNeil will target “high-growth markets across the Sun Belt,” with an initial push in six states and a portfolio comprising 700,000 square feet, according to a press release.
The company has two facilities already in operation. They are 410 W. South St. in Raleigh, North Carolina, and 16700 Ranch Road 620 in Round Rock, Texas. It also has three construction projects underway at 2312 Memorial Parkway, Huntsville, Alabama; 851 Isabella Lane, Smyrna, Tennessee; and 5636 Redan Road, Stone Mountain, Georgia. In addition, it has five projects in various planning phases:
- 853 Airport Blvd., Austin, Texas (construction begins 3Q 2022)
- Country Club Avenue and Pulaski Pike, Huntsville, Alabama (pending approval)
- 2995 Technology Drive, Lake St. Louis, Missouri (construction begins 4Q 2021)
- 2600 SW Military Drive, San Antonio, Texas (construction begins 1Q 2022)
- 1610 Woodstone Drive, St. Peters, Missouri (construction begins 4Q 2021)
Based in Atlanta, NitNeil focuses on self-storage acquisitions and development across the South. It has offices in Atlanta and Austin as well as Tampa Bay, Florida.