Peterson Companies to Build Storage Facility
Peterson Companies, one of the largest privately-owned real estate development companies in the D.C. region, is pleased to announce an expanding Self-Storage portfolio with the acquisition of 35 acres of land in Montgomery County, VA. Plans include the development of a three-story, 119,250 SF, 977-unit, climate controlled self-storage facility, with four additional one-story buildings (totaling 24,000 SF) and 76 RV/boat/vehicle storage parking spaces at the Cinnabar Road site.
“While our focus has been in the Washington D.C. region, we’ve identified this location as an opportunity to extend our self-storage footprint. We’re excited to deliver another state-of-the-art storage facility offering a variety of accessible and affordable storage solutions to meet the diverse needs of the market,” stated Jim Mertz, Senior Vice President – Self-Storage, Peterson Companies.
With an expected opening next summer, Peterson Companies newest self-storage facility will be located at 650 Cinnabar Road in Montgomery County, VA, convenient to residents of Blacksburg and Christiansburg, as well the Virginia Tech community.
Peterson Companies opened their first self-storage facility in Ashburn, VA in 2018 and three years later, announced the formation of a Self-Storage division, the Company’s first new division in more than 35 years. Peterson Companies has since opened facilities in Gainesville, VA, Stafford, VA and Frederick, MD. They have also announced a second Gainesville, VA storage location and a self-storage facility planned in Fairfax, VA, with projected openings in 2023 and 2024 respectively.