StorQuest Railroad Ave
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StorQuest Railroad Ave

Westbury, NY

Industrial - Self-Storage

Due Diligence and Development Oversight

Role

RPL provided due diligence and development oversight services on behalf of an institutional equity partner.

Unique Approach

  • Identified the need for more extensive surveying of asbestos quantity in existing structure to be demolished.
  • Advised on the need to move overhead utility lines for both construction and permanent clearance.
  • Recommended adjustments to make budget and contingencies more realistic.

Outcomes

  • Researched existing large storm sewer system and confirmed that it would not interfere with necessary street utilities.
  • Project completed on time and within adjusted budget.

Scope of Work

Development of a new three-story climate-controlled self-storage facility.

Project Summary

  • Client: One of the largest institutional private equity investment firms
  • Location: Westbury, NY
  • Size: 824 units, 3 floors, 65,100 RSF
  • Timeline: 2014 to 2018
  • Services: Due Diligence and Development Oversight
  • Cost: $15 million
  • Architect: Frank G. Relf Architects
  • Contractor: Racanelli Construction & Development Company