Titan Development announced plans to build six self-storage facilities in New Mexico and Arizona.
The real estate developer said its New Mexico plans include building four facilities, one on Albuquerque’s Westside, one in Rio Rancho and two in Santa Fe.
The Westside facility will be at Unser Boulevard and Ladera Drive and will be a 107,000-square-foot, three-story climate controlled building with 790 units. The project is scheduled to break ground next month. The Rio Rancho facility will be an 88,000-square-foot, 650-unit building, with both climate controlled and non-climate controlled units. This project will include 92 outdoor recreational vehicle spaces. It is scheduled to break ground in January. Both facilities are scheduled to open in the fourth quarter this year. The two Santa Fe facilities, one located in the Rodeo Business Park and one off Vegas Verdes Drive, are expected to break ground later in January and open in the third quarter of this year.
In reference to the Westside project, Titan said significant future educational and residential development spurred that facility.
The projects are part of the Titan Development’s Real Estate Fund I, a private equity real estate fund managed by Titan Development.
The projects are Titan’s first storage unit facilities in both Albuquerque and Santa Fe. The four projects will be operated by Extra Space Storage. Illinois-based ARCO Murray will serve as general contractor for the facilities. Jordan Architects were the architects on the projects. Utah-based Extra Space Storage reported $284.16 million in revenue in the third quarter of 2017, according to MarketBeat.
In partnership with WDP Partners, Titan Development is building two Extra Space Storage projects in Gilbert, Arizona.
Titan Development is a real estate developer founded in 1999 and has been involved in over $2 billion of real estate development, according to its website.