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Real Estate Developer Peterson Cos. Launches Self-Storage Division

Peterson Cos. (PC), a real estate development firm based in Fairfax, Virginia, has launched an official self-storage division. The new department, the company’s first in 35 years, will be led by Jim Mertz, senior vice president, according to the source.

PC owns three self-storage facilities in Virginia. It opened the first in Ashburn in 2018, comprising 136,000 square feet. That property was followed by a 132,000-square-foot facility in Gainesville and a 110,000-square-foot facility in Stafford. All are managed by CubeSmart, a self-storage real estate investment trust and management company. PC also recently broke ground on a location in Maryland, which is expected to open next year, the source reported.

Mertz joined PC in 2015. He spearheaded the Ashburn development and other commercial projects on behalf of the company.

“The self-storage industry is experiencing tremendous growth right now, and demand for self-storage in the greater Washington, D.C., region is at an all-time high,” said CEO Jon Peterson. “With three operating facilities and several more in the pipeline, the time was right to create a dedicated division focused on growing our self-storage portfolio, and Jim was the perfect choice to lead this effort.”

PC develops, owns and manages commercial, office, residential, retail and self-storage properties in Maryland and Virginia. Its mission is to positively impact the communities it serves and crate “exceptional destinations that enrich the regional economy,” according to its website.

Sources:
Peterson Cos., Website
Virginia Business, Fairfax-Based Peterson Cos. Opens Self-Storage Division

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