New Partnership Breaks Ground on 105,000-Square-Foot Self Storage Facility in West Palm Beach, Fla.
MacArthur Holdings, Live Oak Capital Partners, and South Florida based SROA Capital are pleased to announce the start of construction for a 105,000-square-foot climate controlled self storage facility located at 1620 North Congress Ave., near the intersection of Palm Beach Lakes Blvd. and I-95, and at the entrance of the Land of Presidents and the new Palm Beach Outlet Mall.
This three-story, mixed-use building will include 830 climate controlled units and 1,200 rentable square feet of ground floor retail space. Elite Stor Construction is the general contractor for the facility, and BB&T is providing debt financing for the project.
Benjamin S. Macfarland III, CEO of SROA Capital said, "We are excited to be investing locally and working with our city and county officials and surrounding neighborhoods to build a beautifully designed property that fits the storage needs of local residents and businesses."
With construction underway, the property will be open to the public during the second quarter of 2018.
NitNeil, Live Oak Capital Partners Open State of the Art Facility in Mount Pleasant, SC
NitNeil Partners and Live Oak Capital Partners have opened a second new facility for the Charleston region in the prestigious suburb of Mount Pleasant, South Carolina. The three-story building features 52,500 square feet of climate-controlled self storage and is located at 1426 U.S. Highway 17 North, near the intersection with Interstate 526. This property is centrally located along the city's primary commercial corridor with superb visibility from both U.S. Highway 17 and Interstate 526.
"With excellent schools, sophisticated restaurants and high end retail, Mount Pleasant offers residents a high quality of life in close proximity to Downtown Charleston and the surrounding beach communities", said Steve Tedder, Principal of Live Oak Capital Partners. "This well designed, highly visible facility is the highest quality, climate controlled self storage in the market and addresses the unmet needs of local residents and businesses."
Construction began at the beginning of 2016, and the property opened to the public in February 2016.
Century Old Landmark Reopens in Louisville
NitNeil Partners and Live Oak Capital Partners have completed renovations to the historic J.F. Kurfees Paint Building in downtown Louisville, Kentucky. The four-story, 110,000-square foot property was acquired in August 2015 and transformed into a state-of-the-art self storage facility operated by Extra Space Storage. Located at 201 East Market Street, the J.F. Kurfees Paint Building was originally constructed in 1915 and has been designated as a historic landmark by the National Register of Historic Places. The building's Beaux-Arts style is part of an architectural movement that influenced many civic and commercial buildings in Louisville during the early 1900's.
"We are thrilled to breathe new life and define the future of this historic building", said Neil Sapra, Principal for NitNeil Partners. "Louisville is in the early stages of an urban transformation and is well positioned for continued growth given its central geographical location, diverse economy, and quality of life factors."
The building is situated in the heart of the city and in close proximity to the Medical District and the booming NuLu neighborhood. More information on available space can be found at www.extraspace.com.
Construction Complete on Self Storage Development in Downtown Charleston, SC
NitNeil Partners and Live Oak Capital Partners have completed construction and sold a multi-story, climate-controlled self storage facility in Charleston, South Carolina. The buyer was Sovran Self Storage. Located at 1540 Meeting Street, this 71,000-square-foot facility sits in the heart of the Charleston Peninsula and in close proximity to the Historic District.
"We are excited to deliver this best-in-class storage facility to the dynamic and rapidly growing City of Charleston", said Aaron Rowley, the local development partner for both companies. "We believe the design of this building honors the character of the Neck Area and is in keeping with the high standards for architecture on the entire Charleston Peninsula."
This facility commenced construction in mid-2015 and opened to the public in August 2016.