DXD Capital completes development of new 88,620 SF storage facility in Bristol, Rhode Island

                   New, Class A, climate-controlled storage facility 

located at 180 Mount Hope Avenue in Bristol, RI

   BRISTOL, RI—DXD Capital, a private equity investor and self storage developer, announced the opening of a new, Class A, climate-controlled storage facility in Bristol, RI.

 

 The facility, located at 180 Mount Hope Avenue, has 750 individual storage units totaling 61,600 net rentable square feet and features one-of-a-kind design elements that mimic New England townhomes meant to blend in with the surrounding neighborhoods.

 

Extra Space will manage this facility. Jayeff served as the general contractor, and Centreville Bank was the construction lender.

 

The property was acquired in November 2022 through DXD’s first fund, DXD Self Storage Fund I, which launched in November 2020 and closed in November 2021 with $63 million in capital commitments. The company launched its second fund in June 2022 and has since invested in ten self storage projects across the United States.

Drew Dolan

"This facility is unique as we designed it to look more like townhomes than traditional self storage because of the uniqueness of the market,”  said Drew Dolan, Principal and Fund Manager. 

 "We knew that if we were going to get storage built in a market like Bristol with such high barriers to entry, we had to make a real investment in the community. We are happy to have done that and expect ours to be the last storage facility built on the peninsula."

 

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association

of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 www.dxd.capital

 

www.dxd.capital

STOS PARTNERS ACQUIRES 279,233-SQUARE-FOOT INDUSTRIAL COMPLEX IN SALT LAKE CITY FOR $35 MILLION

CJ Stos

SALT LAKE CITY, UT – Stos Partners, one of the most active commercial real estate investment and management firms, has announced that it has entered the Salt Lake City industrial market, acquiring a three building 279,233-square-foot industrial complex located on 14.53 acres at 900 W 2900/2950/3100 S in Salt Lake City, Utah for $34.99 million ($118 per square foot) in an off market transaction.

Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Acquisitions Morgan Hill, the company will immediately implement a capital improvement program, stabilizing and re-tenanting the asset.

Jason Richards

Eli Priest, Jeff Heaton, and Kyle Roberts of Newmark have been retained to oversee leasing at the industrial complex.  Alex Harrold of Mathews Real Estate represented Stos Partners in the acquisition.

“With the growth of ecommerce, logistics, and manufacturing, Salt Lake City continues to strengthen as a key market for industrial users,” says CJ Stos, Principal at Stos Partners.

 “Despite this property not being on the market, our team identified this asset and immediately began working to acquire it.  In addition to the prime location and functionality of the park, we were attracted to the opportunity due to the wide range of suite sizes and tenant diversification.

 Jay Boyle

“The Salt Lake City industrial market saw leasing activity exceed 2.5 million square feet in the second quarter of this year with logistics and distribution accounting for 81 percent of that total, according to JLL’s Q2 Salt Lake City Industrial Report,” said Hill.  

“Small to mid-sized industrial tenant requirements in Salt Lake City make up the majority of the of leasing activity throughout the market, which should continue to drive strong leasing activity in the second half of 2024.”

Morgan Hill

900 West 2900/2950/3100 South is ideally located near the I-15, I-80, I-215 and SR-201 Freeways, providing convenient access to neighboring communities and accessibility for transport and logistics.  It is also located approximately 10 miles from Salt Lake City International Airport.

Competitive building features include 22-foot clear height, 49 dock high doors and 18 drive-in ground level doors.

About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 

 Alex Harrold

With a track record spanning over $1.7 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through value-add acquisitions and strategic repositioning of industrial and multifamily assets of both institutional and small-to-mid-cap commercial properties.

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. More information is available at www.stospartners.com.

 Contact:

David Ebeling

Ebeling Communications

(949) 861-8351

david@ebelingcomm.com

Ware Malcomb Names Smita Gupta Regional Director in San Diego

  

Smita Gupta

SAN DIEGO, CA – Ware Malcomb, an award-winning international design firm, today announced that Smita Gupta has joined the firm as Regional Director to lead the San Diego offices. In this role, she will work closely with San Diego's existing leaders to continue the firm's growth and diversification in the region.

Smita brings more than 30 years of architectural experience and international leadership to Ware Malcomb, including in principal roles incubating and growing the India practice and advising clients across Asia Pacific and the Middle East at another international design firm. Most recently, Smita served as the firm’s regional sciences practice area leader for the southwest United States, demonstrating her versatility and expertise across sectors. 

Previously, Smita was a senior member of Genentech’s in-house design and engineering team. Her instrumental role in expanding the California-based biotech firm's real estate portfolio demonstrated her strategic planning and execution capabilities.

Matt Brady

“With her rich blend of design and real estate experience, coupled with her extensive leadership acumen, Smita brings a unique perspective to the firm,” said Matt Brady, Executive Vice President, Ware Malcomb. “We are pleased to welcome her to the Ware Malcomb team and look forward to her contributions.” 

Smita earned her Bachelor of Science degree from Westbrook College in Portland, ME, and Master of Architecture degree from Virginia Tech University. Beyond her professional achievements, Smita is an active member of the UC San Diego Real Estate and Development (RED) Advisory Board, showcasing her commitment to advancing industry knowledge and best practices in San Diego. 

CONTACTS:

Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

Maria Rodgers, Director, PR & Communications, 949.660.9128, mrodgers@waremalcomb.com

Sean Boswell, PR Specialist, 949.660.9128, sboswell@waremalcomb.com