The Roll Up: DXD completes Opportunity Zone project in Daytona Beach

Bruce Goldberg
April 17, 2024

DXD Capital completed a 731-unit self-storage facility located in a Qualified Opportunity Zone in Daytona Beach, FL. The project has two single-store buildings with a total of 731 units totaling 63,650 NRSF at 2078 Old Kings Road. It will have 45 parking spaces for RVs, boats and more. Public Storage will manage the facility. DC served as general contractor and Century Bank was the construction lender. DXD Self Storage Fund II, launched in 2022 and has invested in eight projects.

“Having this property located in a Qualified Opportunity Zone (QOZ) made this an extremely attractive investment. This will be a valuable addition to our Florida portfolio,” said Drew Dolan, principal and fund manager

Source: DXD Capital

Completed

Devon Self Storage will reopen the former Kittredge Building aka National Needle Building, at 55 Emery St. in Springfield, MA. in about three weeks. It is 136 years old. Source: Mass Live

Money Saver Storage – Stanwood has opened at 26912 Florence Road, at the intersection of Florence RD NW and 270th Street NW in downtown Stanwood, Washington (below). The facility has 355 units and totals 59,070 square feet of storage space. It also has room for boats and RVs. Money Saver Stanwood LLC is the owner and designed the facility along with Trachte Building Systems. Peak Development LLC is the builder and developer. West Coast Self Storage-Stanwood of Everett, WA will oversee operations.

Go Store It Self Storage, a subsidiary of Madison Capital Group, opened a new facility at 1110 Fulton Road in Savannah, GA (below). It has 801 climate-controlled units spread across 93,677 square feet. The site previously housed a grocery store. Source: Madison Capital Group

Planned

Spartan Investment Group, a Colorado-based privately held real estate investment firm specializing in self-storage, closed on a new ground-up development at 100 Mulberry Avenue in Port Wentworth, GA. The site is located in the Savannah metro area and will feature 738 units across 74,088 net rentable square feet of storage space. Delivery of the facility is expected by the end of 2024 and will operate under the FreeUp Storage banner. It is the operator’s 17th facility in the state. Source: Spartan Investment Group

In Florida, the Jacksonville Downtown Development Review Board approved the rezoning of space in a Southbank development. The rezoning approval allows for the inclusion of self-storage units in a proposed multi-use building. The Southbank Lofts are proposed for the corner of Prudential Drive and Hendricks Avenue. Under current plans, the 10-story building will include ground-floor retail and office space, parking space on the second floor, self-storage units from the third to sixth floors and 100 residential units on the seventh to 10th floors. Source: First Coast News

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