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| Storage King USA Fort Myers Highway 80, 633-unit self-storage facility, Fort Myers, FL |
DALLAS, TX – JLL Capital Markets has arranged refinancing for Storage King USA – Fort Myers Highway 80, a 633-unit self-storage facility in Fort Myers, Florida. Financial details were not disclosed.
Working on behalf of Andover Properties, JLL secured a
five-year loan from Choice Bank. The proceeds will refinance the existing loan
and fund Phase II development, adding 89,721 square feet of additional storage
space.
Located at 11351 Palm Beach Blvd., Storage King USA
benefits from high visibility with over 30,000 vehicles passing daily. Fort
Myers is experiencing rapid population growth yet remains underserved in the
self-storage sector.
Babcock Ranch community development,
near Fort Myers, FL
The facility is also near Babcock Ranch, a major development projected to add approximately 20,000 new homes and 50,000 residents.
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| John Bauman |
The 13.36-acre site has gated access and recorded video surveillance and offers space for boat and RV storage.
The JLL Capital Markets Self-Storage team was led by
Directors John Bauman and John Williamson who were supported by Lee
Weaver and Alex Riva from JLL’s Central Florida team.
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| John Williamson |
“The property is exceptionally positioned to capitalize on the growing influx of residents with growing storage needs to the Ft. Myers area given there is virtually no competition within its trade area and no planned developments underway,” Williamson said.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers. The firm's in-depth
local market and global investor knowledge delivers the best-in-class solutions
for clients — whether investment sales and advisory, debt advisory, equity
advisory or a recapitalization.
The firm has more than
3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
Lee Weaver
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visit JLL’s newsroom.
CONTACT:
Grace Lewis