DXD Capital Opens New York Storage Facility
Extra Space will manage the Long Island property.
Private equity investor and developer DXD Capital has opened a new, Class A, climate-controlled self storage facility on Long Island, N.Y. Extra Space will manage the 664-unit asset, situated in Huntington Station.
The property, located at 403 Oakwood Rd., totals 62,125 net rentable square feet. Construction began parcel on the parcel in October 2023 and a year later the facility was ready for use.
This self storage facility has been a multi-year process. Initially, the industrial site included an office building with a 180-day clause to allow to seller to relocate. Following an entitlement, permitting and relocating process that took several years, the existing office building was demolished and construction began.
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Century Bank provided a construction loan on behalf of the property while Park East Construction was the general contractor.
“We love barriers in any market and Long Island is especially difficult,” a company spokesperson told Multi-Housing News. “We are glad to be able to provide storage in an area that has demonstrated demand for the product.”
The facility is situated next to the Long Island Rail Road tracks. Nearby Interstate 495 provides access throughout Long Island and the larger New York City area.
Overall, DXD has invested in 19 self storage developments and one seven-facility portfolio acquisition across the US. Earlier this year, the company delivered a self storage facility in Atlanta. The project totals 41,335 rentable square feet and features 703 climate-controlled storage units.
