Baltimore-Area Storage Facility Breaks Ground
- Apr 26, 2018
Peak Management, an affiliate of Hill Managament Services Inc. has kicked off construction of YourSpace Storage a 939-unit facility in Nottingham, in greater Baltimore—an area that’s steadily overcoming decades of manufacturing decline and population loss. The asset is slated for completion by late fall 2018.
Located at 8121 Belair Road, the property is situated near the intersection of MD Route 43 and State Route 1. Approximately 127,000 people live within a three-mile radius, with an average household income of roughly $67,000, according to Yardi Matrix data. The area has 3.67-net-rentable-square-foot storage space available per capita.
The new facility will feature 741 climate-controlled units and 198 storage spaces with drive-up access, ranging in size from 25 to 300 square feet. Characteristics of the asset will include computerized entry gates and 24-hour video recorder monitoring. In addition to that, YourSpace Storage will provide services such as U-Haul or Penske truck rental options and RV parking space.
“The primary factor that initially attracted us to the site is the extremely dense residential neighborhoods that presently surrounds the location, including the construction of significant new single-family, townhouse and multifamily product that we expect to continue for many more years,” said Danielle Beyrodt, vice president of Hill Management, in prepared remarks.
Image courtesy of Peak Management