Basis Industrial Showcases Plans For New 111K SF Storage in Plymouth, MA

Basis Industrial, a prominent player in the self-storage industry, has unveiled its latest addition—a 111,000-square-foot self-storage facility in Plymouth, Massachusetts. The property's management will be overseen by the well-known Public Storage brand.

What it took to make the project possible: The journey to this development began in November 2021 when Basis Industrial secured a 2.1-acre plot of land in Plymouth for $3.5 million through an off-market transaction with a private seller. Ground was officially broken on the project in March 2022, marking the start of an exciting venture.

A crucial milestone in this project's development came in September 2022, when Basis Industrial secured a construction loan of $10.7 million from TD Bank. This financing paved the way for the swift construction of the facility, which was completed in just 16 months.

The upcoming storage facility and its amenities: Situated at 5 Resnik Road, in proximity to the Plymouth Municipal Airport and roughly 40 miles from Boston, the three-story building boasts a total of 806 climate-controlled units. These units, part of the renowned Public Storage brand, span in size from 25 to 250 square feet and come with a range of on-site amenities. These amenities include video surveillance, electronic gate access, moving supplies, and keypad access, providing customers with convenient and secure storage solutions.

Location, location, location: One noteworthy aspect of this property is its location within a 3-mile radius of four other storage facilities, offering residents an impressive 9.2 rentable square feet of storage space per capita. This not only reflects the growing demand for self-storage options in the area, but also the strategic location chosen by Basis Industrial for their new facility.

A trend is happening: This project is part of a broader trend in the Boston market. As of October, the city was bustling with self-storage developments, with 16 properties under construction and an additional 46 in the planning and prospective stages. Collectively, these projects are set to contribute approximately 3.1 million square feet to the existing inventory, according to data from Yardi Matrix.

An ever-growing brand: Basis Industrial's commitment to the self-storage sector is evident in their 15 ongoing projects in various stages of development throughout the United States. In the recent past, they secured an $8.3 million construction loan for a 645-unit self-storage facility in Detroit. Once completed, this 78,187-square-foot property will also be managed by the well-regarded Public Storage, further expanding Basis Industrial's footprint in the industry.