The properties are slated to open in fall 2015
December 2, 2014- Kenneth R. Carlson - Architect, P.A. of Deerfield Beach, FL will be designing the property and it will be constructed by DC Construction Associates Inc. of Boca Raton, FL.
The first site has a 22,000-square-foot building which housed Cubana de Television formerly. The structure will be demolished to construct a seven-story, 102,000-square-foot building. It will consist of 1,082 climate-controlled storage units approximately. It is located at the intersection of S.W. 8th Street and S.W. 22nd Avenue at confluence of the Coral Way, Little Havana and West Flagler neighborhoods.
The second site is adjacent to Interstate 95. According to the plan Banner Storage Group will construct 99,000-square-foot self-storage building featuring 950 climate-controlled units. It is located at 640 N.W. 133rd St. in North Miami, FL.
"We are excited to enter the Miami market and look forward to growing Banner Storage's portfolio in Southeast Florida. These compelling urban infill locations have high-density populations, strong traffic counts and easy accessibility. Coupled with the supply/demand imbalances that exist in each market, we anticipate these properties will lease up on a timely basis and produce strong operating performance and investment returns," said John Nikolich, executive vice president. "We are also drawn to Miami’s strong economy with multiple growth drivers as well as the state’s financial strength and the business-friendly environment."
Banner Storage Group is led by Gary Delaney, president, and Nikolich and was formed in July 2013. Both of them have over 35 years if combined experience in the development, acquisition, disposition and financing of self-storage properties, portfolios and real estate operating companies.
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