Phillips Development & Realty Completes Construction on CubeSmart Self-Storage in Raleigh

June 29, 2018- Phillips Development & Realty (PDR) is excited to announce the completion of a new self-storage facility in Raleigh, NC. The ribbon cutting and grand opening ceremony took place on Wednesday, June 13, 2018.  The 756-unit facility is located at 7710 Alexander Town Boulevard in the Brier Creek area of Raleigh.

Guests in attendance included investors, property vendors, contractors, facility teammates, and Phillips employees.  Ceremonies included a ribbon cutting, tours of the facility, and social hour. Guests enjoyed refreshments and light snacks.

This new 4-story building offers 65,110 square feet of rentable space. Featuring 756 storage units, 2 elevators, full climate control, and a spacious office area. This facility is easily accessible from Highway 70 and the Brier Creek area of Raleigh-Durham.

The property is being professionally managed by CubeSmart, one of the top three operators of self-storage facilities in the United States.

PDR chose the Brier Creek area as a viable self-storage market based on Raleigh’s long-term development plan and growth pattern. The new store will benefit businesses, students, young professionals, and families in Raleigh-Durham (RDU) metropolitan area, including the areas of Research Triangle Park.

Capital for development of the project was provided by Jernigan Capital, Inc. (NYSE:  JCAP).  PDR and JCAP are co-invested in five self-storage projects around the United States, including the Brier Creek project.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in the multi-family and storage industry, building progressive projects throughout the United States. PDR is currently facilitating eighteen projects in four different states.