A large new self-storage building is coming to West Tremont Avenue in South End, with an “industrial chic” feel and wine cellar.
Development Management Inc. plans to start construction soon at 536 West Tremont Avenue, just west of South Tryon Street. The company acquired the 3.5-acre site for $1.5 million last year, as part of a bankruptcy sale.
The two-story building will include 98,000 square feet of storage space for rent (It will total 120,000 square feet), and it will include wine storage spaces. A rendering shows arched windows, a brick facade and roll-up doors that blend with the warehouse-style building.
Units on the back of the facility will be accessible from the building’s exterior. The site, just north of the Brookhill Village development and down the street from the former Tremont Music Hall, is currently vacant.
“With this rare investment opportunity, we will introduce a modern self-storage facility in Charlotte’s South End, one of the nation’s hottest submarkets for multifamily development, while providing highly competitive rates to our customers,” said Ivon Rohrer III, vice president with DMI, in a statement. The low land costs, below the area’s average, will allow DMI to offer rental rates up to 40 percent lower than other nearby self-storage facilities, Rohrer said.
The facility is expected to open in 2018. Charlotte-based DMI operates five self-storage facilities in the city.