A development site in Mount Pleasant has been sold for $5 million and is expected to be used for a new upscale self-storage facility.
Property Sold for $5 Million
The 1.48-acre property is located along West Coleman Boulevard at Peach Orchard Plaza.
Real estate firm NAI Charleston announced the sale on May 28, with the buyer identified as DXD SS F2 Land, LLC, an affiliate of real estate investment company DXD Capital.
Plans for Self-Storage Development
The site is fully entitled and approved for development, making it ready for construction.
According to NAI Charleston, the property was divided through a Horizontal Property Regime (HPR), creating a separate parcel specifically for the self-storage project.
The agreement also includes easements and five off-site parking spaces for the development.
Strong Demand for Development Sites
NAI Charleston brokers Jack Owens and Ryan Smith represented the seller, Coleman Broadway LLC.
Smith said fully permitted development sites in prime locations are rarely available and noted strong investor demand for well-positioned self-storage projects in the Charleston area.
