Peterson Companies Acquires 35 Acres In Montgomery County, VA For New Self Storage Facility

FAIRFAX, Va., March 7, 2023—Peterson Companies, one of the largest privately-owned real estate development companies in the D.C. region, is pleased to announce an expanding Self-Storage portfolio with the acquisition of 35 acres of land in Montgomery County, VA. Plans include the development of a three-story, 119,250 SF, 977-unit, climate controlled self-storage facility, with four additional one-story buildings (totaling 24,000 SF) and 76 RV/boat/vehicle storage parking spaces at the Cinnabar Road site.

 

“While our focus has been in the Washington D.C. region, we’ve identified this location as an opportunity to extend our self-storage footprint. We’re excited to deliver another state-of-the-art storage facility offering a variety of accessible and affordable storage solutions to meet the diverse needs of the market,” stated Jim Mertz, Senior Vice President – Self-Storage, Peterson Companies.

 

With an expected opening next summer, Peterson Companies newest self-storage facility will be located at 650 Cinnabar Road in Montgomery County, VA, convenient to residents of Blacksburg and Christiansburg, as well the Virginia Tech community.

 

Peterson Companies opened their first self-storage facility in Ashburn, VA in 2018 and three years later, announced the formation of a Self-Storage division, the Company’s first new division in more than 35 years. Peterson Companies has since opened facilities in Gainesville, VA, Stafford, VA and Frederick, MD. They have also announced a second Gainesville, VA storage location and a self-storage facility planned in Fairfax, VA, with projected openings in 2023 and 2024 respectively.

 

About Peterson Companies:

As one of the largest privately-owned real estate development companies in the Washington D.C. region, Peterson Companies consistently delivers some of the area’s most exciting mixed-use retail, residential and commercial destinations. Over the past 58 years, Peterson Companies has created such exceptional landmarks as National Harbor, Downtown Silver Spring, Fair Lakes, and Fairfax Corner. With a proven ability to move quickly on opportunities to reshape and enhance local communities, the company creates vibrant residential and business districts that benefit all who live and work in our region. For more information about Peterson Companies, please visit www.petersoncos.com.

 

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