The Preserve at Crooked RunFincastle, VA
Public Storage – Kmart Conversion3533 Franklin Road
Parkside Storage – Phase II2125 Dale Avenue SE
Parkside Storage – Plantation7544 Plantation Road
Parkside Express Wash2121 Dale Avenue SE
Parkside Storage – Phase I2129 Dale Avenue SE
Ivy Ridge Marketplace3433 Orange Avenue NE
Southwest Apartment Value Enhancements3rd Street & Elm Avenue SW
Commonwealth Self Storage390 Bell Avenue
The Caldwell Clay Course & PreserveFincastle, VA
The Preserve at Crooked Run
Property Catalyst Group has always tried to undertake unique projects, but this takes the cake. The former Camp Fincastle that had a brief run as a corporate training center, was a blank slate that needed a lot of work in 2019. We rolled up our sleeves and executed. With complete renovations, additions, and even relocations – we have transformed the once dilapidated recreational property into an exclusive outdoor venue.
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Public Storage – Kmart Conversion
The concept of converting a former Kmart into a self storage use has been done, but now it has been done right. The physical goal of the project was to build the most attractive and functional conversion project in the country. The goal was clearly accomplished.
By converting the structure and not demolishing, we will kept 7,500 tons or 300 dump truck loads of building material and debris out of landfills! In addition, the change in use allows for further opportunity in the large former parking area.
Parkside Storage – Phase II
This project was conducted to build on the success of Parkside Storage’s first phase. The project goal was to complete the Parkside Commons western buildingscape and inject a slight variation on the neighboring architecture.
The project was executed flawlessly with the end product resulting in a substantial value increase to Phase I. Along with Phase I, this asset was sold to the current operator Public Storage in 2019.
Parkside Storage – Plantation
After development of the Dale Avenue site, it became clear that this site was the next endeavor. The physical goal of the project was to build on the first multi-story facility in the Roanoke Valley and inject high quality construction materials into the Plantation Road buildingscape.
This project was completed in 2018 and enjoyed great responses from both the customer base and national storage companies. PCG sold the asset to the current operator Public Storage in 2019.
Parkside Express Wash
Parkside Express Wash was developed to capitalize on trends within the innovative car wash industry and a strong traffic count along Route 24 within Roanoke City. The 90′ car wash tunnel project features free vacuums and turns out a great car wash.
The attractive building concept stands out as the most architecturally impressive car wash in the region. After successful operations to build value, the asset was sold to the current operator Zips Car Wash.
Parkside Storage – Phase I
This project represented the first multi-story self storage product in the region. The goal of the project was to bring the most modern storage product to the Roanoke Valley, while introducing a strong architectural element to kick-start the Parkside Commons Development. This was accomplished nicely.
Operations resulted in the necessity of a second phase, which was completed in 2018.
Ivy Ridge Marketplace
The struggling center was in great need of revitalization after the loss of the anchor tenant almost a decade prior. Property Catalyst Group worked with another developer to fully transform the prominent intersection into a thriving neighborhood center.
PCG executed a built to suit project for Planet Fitness and complemented the high traffic user with multiple shop spaces. This property is currently managed by PCG.
Southwest Apartment Value Enhancements
These two projects represented Property Catalyst Group’s first commercial projects. As the real estate market was on the mend, it became clear that a significant gap existed between fundamental values and the current market activity in the Southwest city multifamily sector.
After addressing functional obsolescence, deferred maintenance and then applying sound management practices; PCG increased the value of these two properties 110% from the purchase price in a short period of time.
Commonwealth Self Storage
This rebranding and renovation effort was Property Catalyst Group’s first self storage endeavor. The former Uncle Bob’s location was divested during an effort to exit non-primary markets by the parent REIT.
PCG put a management plan in place and executed a strategic rebranding campaign. The plan was well-received by the customer base, illustrated by multiple financial and operating benchmarks. Over 18 months of ownership the process was completed, increasing the market value by over 20%.
The Caldwell Clay Course & Preserve
As a major amenity to The Preserve at Crooked Run, Property Catalyst Group executed on yet another unorthodox venture. In conjunction with Orvis, PCG designed and executed on a plan to incorporate a 100-round clay course, five-stand, and shotgun instruction area into the 475-acre shooting preserve. The end result is the region’s premiere clay course that enjoys the view of the Blue Ridge Mountains and benefits from The Preserve at Crooked Run’s meeting area amenities.
In addition, the Caldwell Clay Course spurred the need for the General Store. Dealer partnerships with quality brands such as Orvis, Caesar Guerini, Fabarm, and Syren keep shooters well equipped when on-site.