Jernigan Capital Continues Self-Storage Expansion

The company has closed a $20.1 million investment Miami. The 96,295-square-foot facility will be developed by Mequity LLC and is slated for completion by 2019.

 NW 27th Street, Miami
NW 27th Street, Miami

Jernigan Capital Inc. has closed $20.1 million in investment capital to develop self-storage facilities in Miami. The new project will comprise 96,295 rentable square feet. Developed by Mequity LLC., construction is expected to begin in the second quarter of 2018 and is slated for completion by the third quarter of 2019.

At NW 27th St., between the Dolphin Expressway and Tamiami Trail, the facility will be located in Little Havana, in a densely populated residential area that currently offers limited self-storage options. NW 27th St. is a north-south thoroughfare that accommodates daily traffic of more than 48,000 vehicles.

The proposed seven-story building will be climate controlled, with a ground floor that will be designed to provide off-street parking and loading areas, as well as drive-around access for ingress and egress to NW 27th St.

Jernigan Capital continues to grow its self-storage portfolio throughout the country, with investments in Georgia, Texas, Louisiana, New Jersey and Florida.

Image courtesy of Mequity LLC.