StorQuest Railroad Ave
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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
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