DAYTONA BEACH, FL—DXD Capital, a private equity investor and self-storage developer, recently revealed the opening of a brand new, class A storage facility within a Qualified Opportunity Zone in Daytona Beach, FL. The firm's Drew Dolan, principal and fund manager, tells GlobeSt.com that Daytona has seen an influx of migration from other cities both in Florida and along the eastern seaboard with the largest movements coming from Orlando, Miami, and New York.
This particular facility has two single-story buildings consisting of 731 individual storage units totaling 63,650 net rentable square feet located at 2078 Old Kings Rd. It will feature drive-up and interior climate-controlled units and 45 parking spaces for vehicles such as RVs and boats. Public Storage will manage this facility, DC served as the general contractor, and Century Bank was the construction lender.
The property was acquired in January 2023 through DXD's second fund, DXD Self Storage Fund II, which launched in June 2022 and has since invested in seven self-storage projects and one seven-facility acquisition across the United States.
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According to Dolan, like other parts of Florida, he tells GlobeSt.com that "people are looking to Daytona for the good weather, amenities and activities, and favorable tax treatment. Compared to other areas in Florida, Daytona has an attractive cost of living, which will be increasingly important as South Florida has priced out most people," he adds.
Both buildings were designed with drive-up units on all four sides, he explains. "We know, based on our research and data, those buildings are in high demand in the Daytona submarket.
To read more about self-storage, check out this recent article on the subject that notes that market conditions in this property type are picking up.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
