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| Cameron Paktinat |
LONG ISLAND, NY — DXD Capital, a private equity investor and self storage developer, announced the opening of a brand new, Class A, climate-controlled storage facility in Huntington Station, Long Island, NY. The facility, located at 403 Oakwood Road, has 664 individual storage units totaling 62,125 net rentable square feet.
Extra Space will manage this facility. Park
East Construction was the general contractor, and Century Bank was the
construction lender.
The
property was acquired in June 2023. To
date, DXD has invested in 19 self storage developments and one seven-facility
portfolio acquisition across the United States.
While
construction of this facility was completed in one year, the project has been
in the works for much longer. DXD Managing Director of Development Cameron
Paktinat identified the market in 2017 before he joined DXD.
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| Class A, climate-controlled storage facility in Huntington Station, Long Island, NY. The facility, located at 403 Oakwood Road, has 664 individual storage units totaling 62,125 net rentable square feet. |
He faced many obstacles, such as expensive land and construction costs, restrictive zoning, and a multi-step discretionary approval process. It wasn’t until 2019, when another storage facility received approval on a parcel previously thought impossible for self storage that Cameron was convinced that with the right team, a project like this could be done.
After joining DXD Capital in early 2021, Cam formed a team with proven
success in gaining approvals for projects with high barriers to entry.
The parcel on 403
Oakwood Rd, an industrial site next to the Long Island Rail Road tracks,
included an existing office building with a 180-day clause to allow the seller
to relocate. After a multi-year entitlement and permitting process, the seller
relocated, and the existing office building was demolished.
Construction began in
October 2023, and on October 17, 2024, Extra Space Storage opened its
doors to the public.
"Bringing
this facility to life has been deeply meaningful—it’s the realization of a
vision that began seven years ago and has now come to fruition thanks to the dedication
of an incredible team," said Paktinat.
DXD Capital
DXD Capital is a data-driven real estate
private equity company focused solely on the self storage sector. DXD utilizes
unprecedented access to data and proprietary tools to source best-in-class
investments for its investors.
CONTACT:
David Ebeling
Ebeling
Communications
949.861.8351
949.278.7851
(Cell)
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National Association of Real Estate Editors (NAREE)
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