Rivercrest Realty Investors LLC, a Raleigh, N.C.-based commercial real estate firm, has expanded its self-storage portfolio with two Lockbox Self Storage facilities in South Carolina. The first is an acquisition in Greenville, which was purchased in June, while the second is a new build in Winston-Salem, which broke ground this summer. The new development is expected to open in the spring.
The existing two-story facility at 401 Jonestown Road comprises 70,962 rentable square feet of storage space. Property amenities include U-Haul truck rentals and a retail store that sells packing and moving supplies. The site is managed by Reliant Real Estate Management LLC, a self-storage development and property-management firm.
“We are excited about the addition of this property to our portfolio,” said Sean McKinley, vice president of Rivercrest. “Our goal is to continue to enlarge our real estate holdings throughout the Southeast as we continue to look for acquisition and development opportunities.”
The four-story Lockbox facility under construction at 426 Wade Hampton Blvd. will comprise 61,255 rentable square feet of storage space. It’ll also offer U-Haul truck rentals and a retail store.
Metrolina Builders Inc. is the general contractor on the project. The architect is Overcash Demmitt Architects, and the engineering firm is ADC Engineering. Upon completion, it’ll also be managed by Reliant.
“We are excited about delivering a high-quality facility to serve the rapidly growing downtown market of Greenville,” said Brian Holder, director of development for Rivercrest.
Founded in 1967, Rivercrest specializes in the acquisition, long-term ownership and management of apartments, office buildings, shopping centers and self-storage. It owns 75 retail properties totaling approximately 5 million square feet, along with multi-family and office sites, in the Southeast.