YourSpaceStorage at Nottingham, representing eighth in chain of facilities in Baltimore-Washington, D.C. metro region, located near intersection of MD Routes 43 and US Route 1
Existing Bel Air YourSpace Location
Peak Management, an affiliate company of Hill Management Services, Inc., has broken ground on its eighth “YourSpace Storage” self-storage facility in the greater Baltimore-Washington, D.C metropolitan market. The latest facility, YourSpace Storage at Nottingham, is positioned at 8121 Belair Road near the intersection of MD Route 43 and US Route 1 in the White Marsh section of Baltimore County. The facility is expected to be operational in late fall 2018.
The new self-storage facility will feature 939 units, including 741 of the climate-controlled variety, with the balance consisting of 198 drive-up spaces. The units will range in size from 5 x 5 feet, which can accommodate items contained in a typical walk-in closet, to 10 x 30 feet, an area that can store the entire contents of a single-family home. A total of eight different-sized units are available to suit the storage needs of consumers and businesses.
Each YourSpaceStore facility is equipped with computerized entry gates and 24-hour digital video recorder monitoring.U-Haulor Penske truck rentals will be available for customers and the site will also include an RV parking lot.
The growing popularity of self-storage facilities around the country can be attributed to the trend of millennials and echo boomers - defined as people between the ages of 18 and 34 years of age - that are choosing to rent apartments rather than buy homes, and need additional storage capacity. The low industry-wide vacancy levels of self-storage facilities is a strong indication that this product category is extremely healthy and under-served.
“This site is highly-visible and within close proximity to several major highways including Belair Road, MD Route 43 and the Baltimore Beltway, which provides immediate access from many areas around the county,” explained Danielle Beyrodt, Vice President of Hill Management, who handled the acquisition. “The primary factor that initially attracted us to the site is the extremely dense residential neighborhoods that presently surrounds the location, including the construction of significant new single-family, townhouse and multifamily product that we expect to continue for many more years.”
Upon completion of this facility, Peak Management willown and operate more than 7,500 self-storage units in locations throughout Baltimore and Harford Counties, as well as Frederick and Waldorf, Maryland.
Peak Management LLC is a privately-owned, full-service property management company specializing in the development, construction, ownership and management of multifamily and self-storage properties. Headquartered in White Marsh, Maryland, the portfolio consists of nearly 3000 apartment units and seven self-storage facilities situated throughout the greater Baltimore metropolitan region. The company is an affiliate of Hill Management Services, Inc. Visit www.peakmgt.net.
