SELF STORAGE
707 Caton Avenue
- In partnership with the site’s long-time owner, for whom the property became surplus, Garver initiated this project by analyzing the market
- Served as Developer for the partnership for this 92,000 square foot 738 unit new self-storage facility
OUR ROLE: Developer & Joint Venture Owner
PROJECT TYPE: Self Storage
Protecting Interests
- Oversaw all entitlements, financing, design & construction, schedule and budget
- Negotiated contract with ExtraSpace to provide third-party management
Value Creation
- Delivered project on time and significantly under budget
- Saved over $500K in construction costs by throwing out bids and re-bidding twice in a chaotic bidding environment, impacted by an overtaxed industry and cost escalation
- Obtained Enterprise Zone designation with its significant property tax abatement
- Achieved acceptance into the BGE SEED program, with its deep discounts to required BGE work and reduced energy costs for the life of the business
