Just weeks after breaking ground on a self-storage facility in Downtown Charleston, S.C., Atlanta-based real estate development and investment firms NitNeil Partners and Live Oak Capital Partners have announced their intent to develop a storage facility in the prestigious suburb of Mount Pleasant, S.C. The three-story building will feature 52,500 square feet of climate-controlled storage. The property at 1426 Highway 17 North, near the intersection of Interstate 526, will be centrally located along the city's primary commercial corridor, according to a NitNeil press release.
"With excellent schools, sophisticated restaurants and high-end retail, Mount Pleasant offers residents a high quality of life in close proximity to Downtown Charleston and the surrounding beach communities," said Steve Tedder, principal of Live Oak Capital Partners. "This well-designed, highly visible facility will be the highest quality, climate-controlled self-storage in the market and will address the unmet needs of local residents and businesses."
Construction will begin later this summer, with the property expected to be open to the public in spring 2016.
NitNeil Partners is a regional investment firm that specializes in the acquisition, development and management of commercial real estate, including self-storage. The company’s self-storage portfolio comprises more than 800,000 square feet across five states.
Founded in 2012, Live Oak Capital Partners focuses primarily on “niche property types and off-market” opportunities, according to the release. It has investment interests in self-storage, industrial, manufactured-housing and office properties.