StorQuest Pearl Street
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Boulder, CO

Industrial - Self-Storage

Due Diligence

    Role

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

    Unique Approach

    • Covered, secure parking for recreational vehicles (RVs) on site is in high demand in this area.
    • Site was redeveloped from an auto impoundment yard.
    • The City of Boulder experienced a lengthy Covid-19 shutdown, but allowed work to continue with third-party inspections as needed.
    • Some project delays because of weather and Covid-19 issues, particularly for the RV canopies.

    Outcomes

    • Achieved substantial completion
    • Leasing well

    Scope of Work

    High-end self-storage warehouse in rapidly growing Boulder, Colorado.  Marketed to businesses and individuals, especially college students, needing storage space. Contains 88 covered RV spaces.

    Project Summary

    • Client: One of the largest institutional private equity investment firms
    • Location: Boulder, CO
    • Size: 719 storage units, 3 floors, 58,369 RSF
    • Timeline: 2018 to 2020
    • Services: Due Diligence
    • Cost: $12 million
    • Architect: Galloway & Company
    • Contractor: Waner Construction Company
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