DXD Capital has completed a 71,335-rentable-square-foot self storage facility in Lithia Springs, Ga. The property is being managed by Public Storage.
DXD Capital purchased the property in June 2022 through its first fund, DXD Self Storage Fund I, which closed in November 2021 at $63 million of committed capital. The project was also subject to a $12.2 million construction loan, provided by Century Bank of Georgia, Yardi Matrix data shows.
Construction on the Class A facility began in March 2023, with Valston serving as the project’s general contractor. The three-story building has two on-grade levels, featuring 703 climate-controlled storage units that range between 25 and 300 square feet. Amenities include keypad access, moving supplies, video surveillance, on-site manager and car parking spaces.
The building took shape on 2.4 acres at 895 Thornton Road, adjacent to Home Depot. The property has access to interstate 20 and is 14 miles west of downtown Atlanta. The facility is one of the 13 available within a 3-mile radius, offering residents 13.2 rentable square feet of storage space per capita. As of late January, metro Atlanta had 29 self storage properties under construction, set to add 2.1 million square feet to the existing inventory, according to Yardi Matrix data.
DXD Capital launched its second fund in 2022 and has since invested in additional self storage projects across the U.S. In a recent transaction, the company acquired the Hill and Homes Self Storage portfolio. The collection of seven properties in Grand Junction, Colo., traded for $13.4 million.
