Press Release

 
NitNeil Partners Announces Latest Self-Storage Project in Huntsville, Alabama


ATLANTA, GA - July 7, 2020 -   NitNeil Partners has structured a Qualified Opportunity Fund for its most recent self-storage project in Huntsville, Alabama.  Earlier this month, t he development partnership acquired a 2.14 acre land parcel located at 2312 Memorial Parkway and plans on constructing a four-story, 100,000 square-foot, climate controlled self-storage facility.  The development will also feature a one acre outparcel along Memorial Parkway for a future restaurant or retail use.  The site, which resides in an Opportunity Zone, is strategically located along a major thoroughfare and in close proximity to Downtown Huntsville, The Medical District, and the burgeoning West Huntsville neighborhood.      

"Huntsville continues to experience tremendous population and job growth which has created a strong demand for best-in-class products and services,"  said Neil Sapra, Managing Principal for NitNeil Partners.   "We are wrapping up similar projects in Austin and Tampa, and believe this project will add a much needed amenity to support future density to Huntsville's urban core." 

By providing tax deferments and relief to investors, the Opportunity Zone (OZ) legislation is designed to spur economic development, job creation and long-term investment in neighborhoods across the U.S.  This marks the Company's second OZ deal.  The project is expected to break ground in August with an anticipated completion date of Summer 2021.

ABOUT NITNEIL PARTNERS

NitNeil Partners is a real estate investment firm that develops and acquires self-storage facilities in high growth markets throughout the Southeast and Southwest United States.  NitNeil's portfolio consists of 1.5 million square feet spanning across nine states.  With offices in Atlanta, Austin and Tampa Bay, the Company continues to execute on underutilized real estate through creative partnerships with land owners, developers and investors.

For more information, please visit nitneilpartners.com.

Media Contact
Nitesh Sapra
nitesh@nitneilpartners.com