News: Owners Developers & Managers
Posted: October 4, 2024
DXD Capital holds groundbreaking for
96,238 s/f self-storage facility in Nantucket, MA
Nantucket, MA DXD Capital, a private equity investor and self-storage developer, has held the groundbreaking of a new, class A, climate-controlled storage facility. The facility, located at 10 Davkim Ln., offers 667 individual storage units totaling 96,238 s/f and features one-of-a-kind design elements, including climate-controlled covered parking spaces for vehicle storage and an on-site condo meant to offer coveted amenities to the residents of the island while also complying with the island’s strict historic design codes.
Park East Construction Company will serve as the general contractor, Centerville Bank will be the construction lender, and SmartStop will manage this facility.
The property was acquired in July 2024. To date, DXD has invested in 19 self-storage developments and one seven-facility portfolio acquisition across the United States.
“Finding an opportunity to build self-storage on Nantucket is as good as it gets in our business. The barriers to competition are extremely high and the rental rates are some of the strongest in the country. We are on the hunt for these two factors every day, and we are beyond excited that we were able to source this generational opportunity on the island,” said Cory Sylvester, principal at DXD Capital.
The facility is expected to open in Q3 of 2025.
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