Update 2/7/17 – Taylor/Theus has acquired a 5-acre site on University City Boulevard in Charlotte on which it intends to develop a self-storage facility. The three-story facility will be part of a retail development being built by commercial real estate company MPV Properties LLC and developer Tribek Properties, according to the source. The storage facility will include a second structure for boat/RV storage.
Taylor/Theus acquired the self-storage site north of Interstate 485 near Cabarrus Farms Road from MPV for $797,500. MPV and Tribek plan to develop and sell three outparcels near the self-storage property that are part of a larger project anchored by grocery stores, the source reported.
“The influx of residents to the University area and Harrisburg is driving demand for more retail, storage and commercial options. We are excited to begin development of this 23-acre commercial site with self-storage and retail outparcels,” Blanton Hamilton, a partner with Tribek, said in a statement. “Given the existing zoning in place for a neighborhood shopping center, we hope to attract a grocery-anchor in the near future to complete development.”
4/11/16 – Taylor/Theus Holdings Inc. is developing nearly 400,000 square feet of self-storage space in Charlotte, N.C. The company has broken ground on two projects and expects to begin construction on a third within a month.
In addition, Taylor/Theus is expanding its 65,000-square-foot facility at 3308 South Blvd. When complete, the property will be nearly double in size, said Tyler Colpini, project manager. The facility is managed by Extra Storage Space Inc., a publicly traded self-storage real estate investment trust (REIT) and third-party management firm.
The two sites under construction include a 108,000-square-foot, three-story facility at North Tryon St. and University City Boulevard, and a 100,000-square-foot, two-story structure at Old Statesville Road and W.T Harris Boulevard, according to the source. Construction is expected to be complete in late summer or early fall, Colpini said. The third new development, a five-story property at 1014 N. Graham St., will include 101,815 square feet of storage space.
"(Taylor/Theus) entered the Charlotte market because it is one of the fastest growing [Metropolitan Statistical Areas] in the country, and there is a lack of new, institutional, quality properties in many of the submarkets," Colpini said.
The firm also has self-storage developments in the planning stages or under construction in the Carolinas, Florida and Virginia, the source reported. Previously, it developed and sold about 750,000 square feet of storage space to Extra Space. This included two Charlotte properties: a 128,250-square-foot facility at 9601 Monroe Road and an 88,835-square-foot building at 10000 S. Tryon St.
Taylor/Theus is a limited-liability company based in South Carolina.
Headquartered in Salt Lake City, Extra Space owns or operates 1,347 self-storage properties in 36 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 900,000 units and 101 million square feet of rentable space.
- Charlotte Business Journal: Developer Adding Nearly 400,000 Square Feet of Self-Storage Space in Charlotte
- MPV Properties: Self-Storage and Retail Planned for University City Boulevard
- The Charlotte Observer: Coming to the University Area: More Self-Storage and Shopping Options