• Identified the site, a derelict shuttered printing plant in a submarket with virtually no self-storage and barriers to entry. Submarket storage square footage per capita is less than half the national average- after this project was placed into service.
  • Partnered with Vulcan Development, LLC, a seasoned self-storage investor since 2007, which has participated in over 12 successful storage projects.
  • Served as the Developer for the joint venture for this 200,000 square foot unit adaptive re-use project

OUR ROLE: Developer & Joint Venture Sponsor

PROJECT TYPE: Self Storage

Protecting Interests

  • Oversaw all entitlements, financing, design & construction, schedule and budget
  • Negotiated an agreement with hostile neighbors who threatened to impede the development of an addition of drive-up storage.
  • Successfully processed a Voluntary Cleanup Program application with the Maryland Department of the Environment, which causes our ownership entity to be a “non-culpable” party regarding any liability for actions of prior owners, and allows us to obtain a Brownfields Tax Credit.

Value Creation

  • Realized that the way to utilize this building, which others had passed over for self-storage. Too long to load from one end, we inserted an interior driveway through its length. This minimizes “push distances” and provides a better customer experience- loading and unloading in climate-controlled comfort, a market differentiator.
  • Delivered project on time and considerably under budget: opened just seven months after closing on the acquisition.
  • Added a 176 kW Solar Power array on the roof, designed to make the self-storage operation a “net zero” energy building, and which represents value creation approximately 2X its first cost.

Contact Us

1340 Smith Avenue
Suite 200
Baltimore, MD 21209