{"id":1004169189,"date":"2017-03-14T02:49:46","date_gmt":"2017-03-14T10:49:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169189"},"modified":"2022-12-09T00:52:04","modified_gmt":"2022-12-09T08:52:04","slug":"dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/","title":{"rendered":"DMI to Develop 120 KSF Self-Storage Facility in Charlotte\u2019s South End"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004169193\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004169193\" data-attachment-id=\"1004169193\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/tremontstoragefacility-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg\" data-orig-size=\"1035,776\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"TremontStorageFacility\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg?w=1024\" class=\"wp-image-1004169193 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg\" alt=\"A rendering of the Tremont storage facility in Charlotte, N.C. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg 1035w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004169193\" class=\"wp-caption-text\">A rendering of the 536 West Tremont Ave. storage facility in Charlotte, N.C.<\/p><\/div>\n<p><strong>Charlotte, N.C.<\/strong>\u2014Charlotte-based Development-Management Inc. recently announced its plans to build a new, 120,000-square-foot self-storage facility in South End. The investment was facilitated by a 2016 bankruptcy sale that allowed the owner to acquire the 3.5-acre property for a discounted price of $1.5 million.<\/p>\n<p>The two-story development will be located at 536 West Tremont Ave., between South Tryon Street and Toomey Avenue. The building\u2019s brick facade will be consistent with the neighborhood. Featuring 98,000 square feet of rentable storage space, the property will also include a wine cellar. Customers will be able to access the lower level of storage units from the front of the property and the upper level from the back of the building by car, boasting the only new, exterior-access units available in the market. This will reduce construction costs and allow DMI to offer rental rates as much as 40 percent lower than its competitors while generating similar returns.<\/p>\n<p>\u201cWith this rare investment opportunity, we will introduce a modern self-storage facility in Charlotte\u2019s South End, one of the nation\u2019s hottest submarkets for multifamily development, while providing highly competitive rates to our customers,\u201d said Ivon Rohrer III, vice president with DMI, in a prepared statement.<\/p>\n<p>DMI plans to start construction on the development later this year. Adding to its portfolio of eight self-storage properties under management or development, the facility will be DMI\u2019s first low-cost location. The property will be DMI\u2019s sixth Charlotte-area self-storage facility.<\/p>\n<p>The new facility is expected to open in 2018 and join other major projects underway in Charlotte\u2019s South End, including a three-story <a href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-harris-to-market-planned-charlotte-m-u-building\/\" target=\"_blank\" rel=\"noopener\">office and retail building<\/a> along South Boulevard and a new Class A <a href=\"https:\/\/www.commercialsearch.com\/news\/new-office-space-coming-to-charlottes-south-end\/\" target=\"_blank\" rel=\"noopener\">office development<\/a> at 2100 S. Tryon St.<\/p>\n<p><em>Image courtesy of DMI<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This will be the company\u2019s ninth property in the Carolinas, but its first low-cost location. <\/p>\n","protected":false},"author":238,"featured_media":1004169193,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21783,21742,32781],"tags":[34411],"class_list":["post-1004169189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-investment","category-latest","category-southeast","tag-development-management-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DMI to Develop 120 KSF Self-Storage Facility in Charlotte\u2019s South End - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMI to Develop 120 KSF Self-Storage Facility in Charlotte\u2019s South End\" \/>\n<meta property=\"og:description\" content=\"This will be the company\u2019s ninth property in the Carolinas, but its first low-cost location.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-14T10:49:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:52:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/TremontStorageFacility.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1035\" \/>\n\t<meta property=\"og:image:height\" content=\"776\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dmi-to-develop-120-ksf-self-storage-facility-in-charlottes-south-end\/\",\"name\":\"DMI to Develop 120 KSF Self-Storage Facility in Charlotte\u2019s South End - 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