Houston-based developer Hines has built some of the Dallas area’s biggest projects, including the Galleria Dallas shopping mall and the new Victor high-rise in Victory Park.
Hines’ next two local projects are more low-key, but part of a growing investment program for the global developer.
In 2018, Hines announced plans for a high-end self-storage project development plan. Some of the first projects were in Arizona.
Now Hines is planning to build two more first-class self-storage facilities in Frisco and Garland. The construction will grow Hines’ storage portfolio in North Texas to more than a dozen properties.
“These latest additions to our D-FW self-storage portfolio are a direct response to the growing demand for Class A, accessible storage solutions in these high-barrier markets,” Hines managing director Robb DeJean said in a statement. “Both facilities are designed with the future in mind to not only ensure the safety and preservation of stored items but also complement the aesthetic and architectural standards of their respective neighborhoods.”
The Custer Self-Storage in Frisco will be a two-story 76,675-square-foot property with 709 climate-controlled units. The project will be built on a 4.6-acre site in the Shops at Custer Bridges at Custer Road and the Sam Rayburn Tollway.
The Jupiter Self-Storage complex in Garland will include two three-story buildings totaling 90,650 square feet. The storage center will be on a 2.5-acre site at Jupiter and Buckingham roads.
Self-storage facilities have been one of the nation’s fastest-growing commercial real estate investment sectors with thousands of new projects in the pipeline.
Hines operates in 30 countries and manages $94.6 billion in properties.
