DXD Capital Unveils 103K SF Self Storage Facility in Egg Harbor, NJ

DXD Capital, a private equity firm specializing in self-storage development, has launched a new Class A storage facility in Egg Harbor Township, N.J. Located at 6679 Black Horse Pike, the facility features 602 units, covering a total of 76,700 square feet of rentable space. It offers both climate-controlled and non-climate-controlled options, with accessible multi-story and drive-up units designed to meet the area’s market needs. Management of the facility will be handled by Extra Space, while Storage Construction served as the general contractor. Century Bank financed the construction, and DXD acquired the property in November 2022.

Strategic Location and Market Demand

Cameron Paktinat, DXD’s managing director of development, highlighted the strategic positioning of the site across from a Wawa gas station on a road with a daily traffic count of 35,000 vehicles. The site is conveniently situated near major highways, including the Atlantic City Expressway and the Garden State Parkway, providing easy access for both residential and commercial customers. The surrounding area includes a significant workforce and businesses, further boosting demand for the facility’s services.

Strong Market Performance in Egg Harbor

Paktinat noted that despite barriers to new development in the Egg Harbor area, rental occupancies remain robust, averaging between 90% and 95%. Rental rates have stayed stable even with increased competition, with climate-controlled ground floor units renting for more than $200 per month.

DXD Capital’s Broader Expansion Efforts

The Egg Harbor facility is part of DXD’s broader efforts to expand its self-storage footprint. The company currently operates 18 facilities, with seven more under construction. DXD has evaluated over 7,500 potential deals and is focused on moving forward with the most promising opportunities.

Recent Facility Openings Across the U.S.

In addition to the Egg Harbor facility, DXD has been active in other regions. In August, the company opened a climate-controlled storage facility in Bristol, R.I. The property features 750 units and blends into the surrounding New England-style architecture. It was financed through DXD’s first self-storage fund and managed by Extra Space.

Earlier in the year, DXD opened another facility in Las Vegas, offering 794 units and catering to the growing needs of contractors in the area. This facility, managed by Public Storage, is the company’s third in the Las Vegas market.

In January, DXD completed a 71,335-square-foot facility in Lithia Springs, Ga., also managed by Public Storage. This project was financed through a $12.2 million construction loan from Century Bank of Georgia.

DXD’s Long-Term Investment Strategy

DXD Capital’s long-term investment approach involves developing and acquiring storage properties across the U.S. Its first fund, launched in 2020, raised $63 million in capital commitments. The company has since launched a second fund in 2022, which has already supported the development of 10 additional storage projects.