CREDE, Cornerstone Capital Open Florida Storage
- Oct 16, 2019
The recently formed Commercial Real Estate Development Enterprises (CREDE), in partnership with Cornerstone Capital Corp., has opened a 103,500-square-foot storage facility in Fort Myers, Fla. According to Yardi Matrix, Iberiabank originated a $6.2 million construction loan for the development. Extra Space Storage was appointed to manage the asset.
The newly built facility occupies 2.6 acres at 2399 Champion Ring Road within The Forum, a master-planned development featuring retail, residential and office space. The storage is near the intersection between Freeway 93 and Interstate 75, roughly 5 miles from downtown Fort Myers. Additionally, there are approximately 26,000 people living within a 3-mile radius of the property, Yardi Matrix shows.
The four three-story buildings encompass a total of 661 units, ranging from 25 to 300 square feet. Property characteristics include climate control, drive-up and elevator access, security cameras and parking spaces. Additional services provided are on-site management and truck rental options.