{"id":1004190501,"date":"2017-09-15T06:40:38","date_gmt":"2017-09-15T14:40:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004190501"},"modified":"2022-12-08T16:11:36","modified_gmt":"2022-12-09T00:11:36","slug":"10-federal-expands-nc-self-storage-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/10-federal-expands-nc-self-storage-footprint\/","title":{"rendered":"10 Federal Expands NC Self-Storage Footprint"},"content":{"rendered":"

By Roxana Baiceanu<\/p>\n

\"Self-storage<\/a>

Self-storage facility, N.C.<\/p><\/div>\n

The Green Cube in Chapel Hill, N.C., was acquired by 10 Federal, a company specializing in acquiring, developing and managing self-storage properties in North Carolina<\/a>. This is\u00a0the second transaction the firm closed on behalf of its Self-Storage Acquisition Fund, launched in May. The company will rehabilitate and convert the new asset to automated operations and add several other improvements such as painting the storage unit doors and paving the drive aisles.<\/p>\n

The same process was implemented at the Fund\u2019s first acquisition, a property located in Belmont, N.C., which is now 96 percent occupied. 10 Federal\u2019s strategy involves\u00a0converting traditional self-storage facilities to unmanned operations to increase the properties’ efficiency and value as well as to reduce operating expenses. To achieve this, the company announced in July that it plans to raise $10 million on behalf of its Self-Storage Acquisition Fund.<\/p>\n

Portfolio\u00a0growth<\/h2>\n

More transactions are underway. 10 Federal has executed a purchase agreement for its third self-storage asset and a letter of intent for its fourth purchase. The company now owns six storage facilities in North Carolina\u2014two in Durham and four in\u00a0Graham, Hillsborough, Chapel Hill and Belmont.<\/p>\n

The following before\/after images are from 10 Federal\u2019s first acquisition in Belmont:<\/p>\n

\"10<\/a>

10 Federal Self Storage Facility, N.C.<\/p><\/div>\n

 <\/p>\n

\"10<\/a>

10 Federal Self-Storage Facility, N.C.<\/p><\/div>\n

Images courtesy of 10 Federal<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company will convert the new property, located in Chapel Hill, N.C., to unmanned operations following the same approach implemented at its other self-storage facilities.<\/p>\n","protected":false},"author":1064,"featured_media":1004190502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21742,1604],"tags":[35301,36351],"class_list":["post-1004190501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-latest","category-raleigh-durham","tag-10-federal","tag-capital-improvement"],"acf":[],"yoast_head":"\n10 Federal Expands NC Self-Storage Footprint - 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\/10-federal-expands-nc-self-storage-footprint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 Federal Expands NC Self-Storage Footprint\" \/>\n<meta property=\"og:description\" content=\"The company will convert the new property, located in Chapel Hill, N.C., to unmanned operations following the same approach implemented at its other self-storage facilities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/10-federal-expands-nc-self-storage-footprint\/\" \/>\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=\"2017-09-15T14:40:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:11:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Self-storage-facility-N.C..png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\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\/10-federal-expands-nc-self-storage-footprint\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/10-federal-expands-nc-self-storage-footprint\/\",\"name\":\"10 Federal Expands NC Self-Storage Footprint - 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