Project: Uncle Bob's Self Storage
Owner: NitNeil Partners.
Location: 1380 Broad St.
Size: 57,000 square feet
Price per unit: Starting at $32 per month
Cost for project: $4 million
Scope: This three-story building will include 582 storage units, ranging in size from 25 to 300 square feet. Uncle Bob's Self Storage operates five locations in the Chattanooga area. The Broad Street building will be its flagship. The climate-controlled storage is aimed at customers from college students to business owners. Principal Nitesh Sapra hopes the building's modern, yet industrial, design will pay homage to the history of the Southside.
Timeline: Open in early April
History: NitNeil Partners, a regional investment firm, owns 14 self-storage facilities and 155 multifamily units throughout the Southeast. The company is focused on developing state-of-the-art self-storage facilities in urban infill markets that are undersupplied, Sapra said. "Downtown Chattanooga really fits the bill because it's a high-growth market, with great demographics, a lot of momentum in the area, and it's well positioned for future growth," he said.
Complied by Shelly Bradbury, who may be reached at email@example.com or 423-757-6525.