The 825-unit property operates under the Self Storage Plus brand.
Arcland Property Co. has opened a new self storage facility in Randallstown, Md. The 110,000-square-foot property will be managed by Self Storage Plus, which marks the 31st asset in the state for the property management firm.
According to Yardi Matrix data, the Class A facility became subject to an $11.4 million construction loan in 2021, originated by Summit Community Bank.
The recently completed property encompasses two two-story buildings across 4 acres and features 825 climate-controlled units, ranging from 25 to 250 square feet. The space distribution is divided in order to offer 95 drive-up units and 48 storage spaces for RV, boat and car parking. On-site amenities include video surveillance, gated access, carts, autopay and elevator access.
Randallstown Self Storage is 17.6 miles from downtown Baltimore, close to Interstate 695, connecting it to other major thoroughfares. The property is one of five facilities available within a 3-mile radius, offering residents 5.2 rentable square feet per capita. Yardi Matrix data shows that Baltimore has a current supply pipeline of 34 properties in various stages of development, set to add approximately 2.1 million square feet to the existing inventory.
Arcland’s Mid-Atlantic portfolio
Arcland Property Co. owns more than 50 properties in over 20 markets across the Mid-Atlantic, with seven of those located in the Baltimore area, according to Yardi Matrix data. Founded in 2006, the firm has 15 projects in various stages of development. All properties operate under the Self Storage Plus brand.
Last year in November, the company paid $113 million for a self-storage portfolio, totaling 281,000 square feet, in metro Washington. Arcland also acquired a 943-unit property in Stafford, Va., from Dominion Capital Partners.
Madalina Pojoga is a writer for Multihousing News.