Self-storage developer Jeremiah 29 LLC, an affiliate of commercial real estate firm O'Brien Commercial Properties Inc. (OCP), is building a five-story self-storage facility on a 3-acre parcel in Marlborough, Mass. The property at 215 Simarano Drive will comprise 80,000 square feet in 525 climate-controlled units. Marlborough Self Storage is expected to be complete in October 2019.
The conventional steel structure will have two large elevators and four loading docks. A second phase will add more than 80,000 square feet of storage in about 550 units. The facility will be managed by OCP, according to the company website.
The site is off Interstate 495, near the new Apex Entertainment complex and the eight-rink New England Sports Center. It’s within walking distance from nearly 1,000 apartments.
Jeremiah 29 secured an $8 million construction loan in November. Aho Construction Inc. is serving as general contractor.
Based in Concord, Mass., OCP specializes in the brokerage of industrial real estate along the I-495 corridor, in Eastern Massachusetts and the western suburbs of Boston. The company also offers multi-tenant property management.
Sources:
Worcester Business Journal, Real Estate Mogul to Build $8M Marlborough Self-Storage Facility
O'Brien Commercial Properties, Website
