Development
Our Recent Projects
Discover our relentless pursuit of innovation in the world of real estate development. At Coldwater Capital, we constantly seize new opportunities, crafting visionary projects that redefine spaces and communities. Our dynamic team, fueled by entrepreneurial spirit, turns possibilities into tangible realities, reshaping landscapes and driving growth.
Shiny Shell Car Wash
Mount Airy, Maryland
When we discovered an old bank building in Mount Airy, Maryland, we saw a unique opportunity for conversion. The building’s solid structure and prime location made it an ideal candidate for our next Shiny Shell Car Wash. We retained the original architectural charm while introducing modern car wash technology and a user-friendly layout. The vault room was creatively repurposed into a high-efficiency equipment room, and the drive-thru teller lanes were transformed into wash tunnels. This blend of historic character and cutting-edge functionality has made the Mount Airy location a standout. Since opening, it has drawn a steady stream of customers and has become a beloved fixture in the community.
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Shiny Shell Car Wash
Murray, Utah
Our flagship location in Murray, Utah, was a visionary ground-up project that set the standard for all Shiny Shell Car Wash locations to follow. This site was designed to be the ultimate prototype, featuring state-of-the-art washing technology, eco-friendly water recycling systems, and customer-focused amenities like free vacuums and a premium Members’ Lounge. The success of the Murray location has been pivotal, allowing us to continually test and implement new innovations.
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The Alyce
Santa Monica, California
This 1960’s 27-unit apartment complex is located three blocks off the water in Santa Monica and was just begging to be redeveloped. The Santa Monica rent-control board coupled with beginning the project in the middle of Covid in August 2020 made this a unique and challenging project. Every inch of the building was addressed in the redevelopment – from a new roof, floors, windows, and decks. To the pool, pool-deck, and entry. From shambles to shine, the Alyce is now an enviable spot to rent in Santa Monica. The property was fully leased in 60 days and remains 100% occupied to date with rents north of $5 per sq ft.
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Self-Storage
New Castle, Delaware
Our team looks for opportunities, so when we found a low concentration of available storage in New Castle, Delaware we sought out numerous properties and landed on a conversion product rather than a ground-up build. The facility was visible from a major highway which gave it great exposure to more than 100,000 daily drivers. We added a second story and tower element to improve this visibility and bring some extra attractiveness to the building. This 70,000 sq foot high ceilings allowed us to add two levels of units and we were able to bring in gate lot storage in the parking areas. We hired Public Storage to manage the property. We successfully sold the property in October 2020 harvesting gains from the redevelopment and lease up.
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Grease Monkey
Lehi, Utah
When we purchased a car wash parcel that had more land than was needed, we got creative in considering other complimentary uses. We then sought out and found a lube tenant who agreed to let us complete a build-to-suit for them. The lube design process was collaborative with the tenant within the confines of our site plan whose main goal was to accommodate our car wash.
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