Miami City Self Storage has added three new storage facilities to its portfolio in Miami, Doral and Ft. Lauderdale, totaling approximately 240,000 square feet. The firm appointed CubeSmart as the manager of the properties.
Located at 3951 NW 77th Ave., the Doral asset is situated near the intersection of freeways 826 and 948. The area is densely populated, with approximately 220,00 people living within a 5-mile radius. The facility comprises 918 units ranging from 20 to 300 square feet, Yardi Matrix shows.
The Miami facility is situated at 1100 NE 79th St., within 2 miles of North Bay Village. Built on less than one acre, the five-story property features 922 storage units.
The third asset is situated at 812 NW First St. in Fort Lauderdale alongside Freeway 842 and near Interstate 95. The multi-story building occupies more than one acre and comprises 1,053 units. Additional characteristics of the storage include climate control, security camera and on-site management, according to Yardi Matrix.
“We have been working on these urban infill projects for 3 years,” said Jay Massirman, partner with Miami City Self Storage, in prepared remarks. “Today we are proceeding on any new projects in South Florida with a high degree of caution as we are at end of this storage development cycle.”
Miami City Self Storage currently has 11 projects in the pipeline in Miami-Dade and Broward counties.
Image courtesy of Miami City Self Storage