Hampshire creates self-storage JV with Harrison Street

Hampshire Real Estate Cos. has entered a joint-venture partnership with real estate firm Harrison Street Real Estate Capital to develop self-storage facilities along the Interstate 95 corridor from Boston to Washington, D.C.

The first project will be a newly built, seven-story facility in Providence, R.I., which is expected to break ground this quarter. Additional projects will be announced over the next several months, according to a press release.

“Although the Eastern United States presents tremendous opportunity for self-storage development, it is among the most crowded and competitive in the United States, which makes it difficult for new investors to enter the market,” said James E. Hanson II, CEO and president of Hampshire. “Our strategic programmatic partnership with Harrison Street provides us with a unique opportunity to successfully deploy capital into an increasingly competitive marketplace. It also enables our team to build upon our track record of