The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, is building two new facilities in Denver. One will be near the downtown area. The other will be in the Denver Technological Center (DTC), a business and economic trading center spanning 850 acres and comprising more than 25 million square feet of buildings.
The downtown facility is on a busy intersection at Kalamath Street and W. Sixth Avenue, according to the source. Expected to open in September, the $11 million project will feature 815 storage units.
The $14 million DTC facility at 5301 DTC Blvd. in Greenwood Village, Colo., will offer 910 units and open in August. WWG purchased the 1.7-acre site for $2.9 million, or $39 per square foot, the source reported. “This land wasn’t inexpensive by any means, but it definitely pencils for us,” said Jon Suddarth, development project manager.
The facilities are being constructed by DCB Construction Co., a Denver-based design-build general contractor. The three-story properties will feature partial-basement levels and interior access. Amenities will include climate control, conference areas, gated access and a retail office.
“We intentionally select more desirable sites and put more money into the design and materials of the buildings with the objective that we’ll be able to achieve slightly higher rents,” Suddarth said.
WWG will begin construction on two more storage facilities in the Denver market by the end of summer, the source reported. One will offer ground-level retail. The operator is also developing new properties in Los Angeles, New York City, Phoenix, Portland, Ore., and Seattle.
Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and operates more than 100 self-storage facilities in Arizona, California, Colorado, Florida, Hawaii, South Carolina and Texas.
Sources:
- Colorado Real Estate Journal: Upscale Self-Storage Facilities Rise in Denver
