Joint venture partners Federal Capital Partners® (FCP) and Self Storage Zone announce the sale of the Taylor Street Self Storage Zone located in the Brookland neighborhood of Washington, DC. The 1,022-unit facility was the result of the redevelopment of 645 Taylor Street, NE, the former Capital Area Food Bank, into a three story, 78,600 square foot, 100% climate-controlled, self-storage facility. Completed in October 2013, the facility offers Washington, DC residents quality storage ranging from 5’ x 5’ lockers to garage sized 10’ x 30’ units.
“Taylor Street was FCP’s first self-storage investment and we are very pleased with the performance of this facility,” said FCP Vice President, Chris LoSapio. FCP and Self Storage Zone are currently under construction on the development of a site at 1850 New York Avenue, NE in Washington, DC that will result in a 112,775 square foot self-storage facility containing approximately 1,381 units. Completion for the 1850 New York Avenue site is scheduled for mid2016.
About Self Storage Zone
Self Storage Zone (“SSZ”) is a developer and operator of Self Storage Facilities in the Washington, DC metropolitan area and Florida. SSZ has developed, currently has under construction, or has acquired and managed approximately 3.8 million gross square feet of space in 36 self-storage projects in Florida, Maryland, New Jersey, New York and Virginia since 1995. The company is actively looking for new development opportunities in the Washington, DC metropolitan region. For information on our current projects, please visit www.selfstoragezone.com
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com