Real estate investment firm Warden Capital intends to build a 79,000-square-foot self-storage facility on 4.4 acres in Nashville, Tenn. The company recently acquired the property at 2508 Dickerson Pike for $450,000. The facility will offer about 750 units between a three-story structure and up to seven single-story buildings, according to the source. It’s expected to open late next year or early in 2018.
"We really like the Nashville market and are looking for other sites in town for another self-storage facility," Hawkins Entrekin, managing principal, told the source. "We chose Dickerson Pike for our first Nashville facility because of all the new development that has come to East Nashville; and it will allow us to offer a much more affordable product close to [Interstate 65] and downtown without having to compromise on asset quality."
The Nashville facility will be Warden’s second self-storage project. The company acquired a warehouse in Louisville, Ky., earlier this year and converted it to self-storage. That facility opened this week under the management of real estate investment trust and third-party management firm Extra Space Storage Inc., according to the source.
With offices in Chicago and Nashville, Warden Capital focuses its investments on self-storage, industrial, multi-family, office and retail properties in Chicago, Columbus, Ohio, Indianapolis, Louisville and Nashville, according to its website.
- The Tennessean: Large Self-Storage Complex Planned on Dickerson Pike