Solvang company finds funding for Hawaiian self-storage facility
From Solvang to Hawaii.
That would be a good way to describe the success of Pick Properties, a Solvang developer of self-storage facilities in Hawaii and California. The independent business has announced the successful funding of a new self-storage facility in the Maui Business Park in Kahului, Maui.
The Hawaiian facility will sit on a four-acre site and offers 94,000 square feet of rentable space. That includes 52,000 square feet of air-conditioned units and 8,000 square feet of storing records.
The Maui facility is the largest project funded by Pick Properties, which raised $7.5 million of investor funds in fewer than 45 days with the smallest investment at $25,000.
The facility will operate under the Great American Self Storage name and will be Pick Properties’ third facility in Hawaii with an additional two facilities in the planning phase in Hawaii and another one in Palm Springs. These facilities are currently being funded by investors, according to a news release.
In addition to the Maui property, Pick Properties is completing construction of its second self-storage facility in Kona, Hawaii. The company’s existing facility in Kona has been named Self Storage Facility of the Year by local residents seven of the last eight years.
Great American Self Storage facilities provides unique services for its business clientele with more than 50% of their tenants operating retail stores and businesses, according to the news release. The Solvang business noted that this means a low turnover in rental units.
All of Self-Storage properties in California are investor-owned and privately funded.
Pick Properties also has been involved in the development of four self-storage facilities in Santa Barbara County. David Pick has been a real estate developer and a licensed real estate broker in California for more than 30 years. He was also a licensed real estate broker in Hawaii.
For more information, contact Mr. Pick at email@example.com or 805-688-2570.