Johnson Development Associates Buys Land for Self Storage Facility in Chesterfield, VA

Johnson Development Associates Buys Land for Self Storage Facility in Chesterfield, VA
Posted: 1/24/2017 Link:
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Real estate development company Johnson Development Associates Inc. (JDA) has purchased a 3.9-acre parcel in Chesterfield, Va., on which it plans to build a self storage facility. The company paid $2 million through an LLC for the property at 1671 Mall Drive, according to the source. The seller was Robious Road Holdings LLC, a Virginia-based company.

The facility will be designed by McMillan Pazdan Smith Architecture, a Spartanburg., S.C.-based architecture, planning and interior-design firm.

The parcel is at the intersection of Mall Drive and Robious Road, just north of the Chesterfield Towne Center, a local mall. It’s also near a new Aldi grocery store and the 368-unit Clairmont at Chesterfield Apartment Homes.

JDA has several projects underway in the area, including a $10 million self storage facility in Short Pump, a village of Glen Allen, Va. The 4-acre site is off Tom Leonard Drive. Additional projects include a $39 million warehouse in Hanover, Va., that will house a 311,000-square-foot Vitamin Shoppe distribution center, the source reported.

The developer was represented in the deal by Matt Hamilton, vice president of the Norfolk and Richmond, Va., offices for Colliers International Group Inc., a commercial real estate company.

Spartanburg-based JDA owns an investment portfolio of commercial and industrial properties including self-storage facilities, multi-family rental communities and single-tenant industrial space. It has developed more than 6,500 luxury apartments since 1996, while its industrial projects comprise 20 million square feet of commercial space.

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