NitNeil Partners, an Atlanta-based investment firm specializing in self-storage, has completed the first phase of a multi-story self-storage project in Atlantas Inman Park neighborhood and opened the facility under its trade name, The Storage Neighbor. The company bought the former A.C. White building in August 2012 and said it would co-develop the site with Cartel Properties, an Atlanta-based commercial real estate developer.
"The supply of self-storage in Inman Park and Old Fourth Ward is under-supplied, but what attracted us to the location was the opportunity to participate in the adaptive re-use of an abandoned building and take part in the revitalization of the Edgewood corridor," said Shelby Brennan, marketing director for The Storage Neighbor.
The project involves converting the existing two-level building and constructing a four-story structure at the rear of the property. The .86-acre site will have 52,961 square feet of climate-controlled self-storage and active-use space once phase two of the project is completed this spring, company officials said in August.
The facility will also feature 800 square feet of retail space that the company plans to rent to a nonprofit organization, retailer or other type of business, Brennan said.
NitNeil Partners is a regional investment firm that specializes in the acquisition, development and management of commercial real estate, including self-storage. The company has more than 600,000 square feet of self-storage space currently under management. The Storage Neighbor has several self-storage facilities in the Atlanta metro area, as well as in the Alabama communities of Huntsville and Madison.
Sources:
- East Atlanta Patch: New Self-Storage Facility Opens on Edgewood Avenue
