14 Oct Extra Space Storage
BCDC and ADEVCO selected the Vestavia Hills area of metropolitan Birmingham to develop their first joint venture project in Alabama. The project is located at 2864 Acton Road in this affluent and growing suburban submarket. Current and historical occupancy levels for existing facilities in the submarket average in the 90-95% range. Significant population growth and commercial/relocation in the area, the proximity to major employers (e.g.,AT&T, Regions Financial Corp. Blue Cross-Blue Shield of Alabama and Alabama Power Co.) ongoing and planned development of multifamily and single family housing nearby all support more demand for professionally managed self-storage.
The climate-controlled building is approximately 76,000 NRSF and incorporates approximately 730 units. The three-story steel and masonry structure, designed to incorporate a decorative exterior facade to meet local planning authority requirements, includes a loading dock, two (2) service elevators, and state of the art CCTV and card access security systems. The property will be branded and professionally managed by Extra Space Storage asset management.
Lender: Great Southern Bank
Architect: Stinard Architecture Inc.
General Contractor: Woolard Attman Construction
Climate Controlled Self-Storage