Joint venture partners Federal Capital Partners® (FCP) and Self Storage Zone have announced the groundbreaking for the redevelopment of 645 Taylor Street, NE (formerly the Capital Area Food Bank) into a three story, 78,600 square foot, fully climate-controlled, self-storage facility. The redeveloped property will include 1,034 units ranging in size from 5’ x 5’ lockers to 10’ x 30’ units and is well-located in the Brookland submarket of Washington, DC, one block from Catholic University and six blocks from the Brookland/CUA Metro station. The facility is scheduled for completion in the first quarter of 2014.
”FCP is pleased to be underway in partnership with a top self-storage operator in an excellent location,” said FCP Vice President for Commercial Acquisitions, Drew Odabashian. Mr. Odabashian continued, “We believe there are continued opportunities in this region and throughout the Mid-Atlantic.”
Self Storage Zone Principal, Diane Tipton, said, “This state-of-the-art storage facility will provide safe, well-managed facilities to communities who have previously needed to travel outside the District. We look forward to completing the project and introducing our wide range of services to the residents of Northeast DC.” Self Storage Zone provides online planning and reservation services as well as free moving trucks to rental customers.
About Self Storage Zone
Self Storage Zone (“SSZ”) is a developer and operator of Self Storage Facilities in the Washington, DC metropolitan area. 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 $3.0 billion in assets since its founding in 1999. FCP is seeking debt and equity investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Pennsylvania, Virginia, Delaware, West Virginia, New Jersey and the Carolinas. FCP buys assets directly as well as through joint ventures with local operating partners through equity, preferred equity or mezzanine debt investments. In December 2012, FCP was recognized by PERE Magazine as one of the Top 10 Emerging Fund Managers. The firm, based in Chevy Chase, MD, manages $769 million of discretionary capital. FCP is currently investing FCP Realty Fund II, L.P., a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com. Please contact Drew Odabashian at firstname.lastname@example.org with self storage investment opportunities.