Carroll Secures Refi for Charlotte Storage Asset
Wells Fargo Bank issued the note for the 82,000-square-foot facility.
The Carroll Cos. has secured a $14.3 million refinancing loan for Bee Safe Storage, an 82,172-square-foot facility in Charlotte, N.C., according to Yardi Matrix information. Wells Fargo Bank issued the note.
The property came online in 2020 at 2010 Rocky River Road, featuring a single three-story building. Amenities at the gated facility include climate-controlled units, with sizes between 25 and 250 square feet, as well as wine storage. CubeSmart oversees day-to-day operations at the property.
The property is just off Highway 24, within 9 miles northeast of downtown Charlotte. Other major thoroughfares in the area include State Route 29, Highway 49, as well as interstates 85 and 485. Bee Safe Storage is one of the seven storage facilities within a 3-mile radius, offering residents over 5 rentable square feet per capita.
As of September, there were 41 self storage properties in all stages of development in metro Charlotte. The pipeline included three facilities under construction, set to add 230,123 rentable square feet to the area, the same data provider shows.
July saw Charlotte’s overall advertised street rate drop 1.2 percent year-over-year, the latest Yardi Matrix national self storage report shows. The annualized average rent per square foot reached $14.15, below the national figure of $16.91.
