The facility will be managed by Extra Space Storage
March 24, 2021: Commercial real estate developer Hernandez Group completed construction on a four-story self-storage facility as part of a mixed-use development in Fort Lauderdale, Florida.
The facility built on 1.78 acres at 2427 W. Broward Blvd., the building comprises 130,852 square feet in 970 units, plus 5,168 square feet of ground-floor retail space. The four-story facility will be managed by Extra Space Storage.
The development is in partnership with JL Capital and Management, Merrimac Ventures, and Stiles. Hernandez is the construction manager and development partner on the project. JL Capital specializes in business management as well as real estate brokerage and development services.
Fort Lauderdale based real estate firm Merrimac specializes in value-add investment and development opportunities primarily in South Florida. Stiles, a full-service commercial real estate firm specializing in projects in the Southeast, will handle leasing efforts for the retail space.
Extra Space headquartered in Salt Lake City, owns or operates more than 1,850 self-storage properties in 43 states; Washington, D.C.; and Puerto Rico. It has a portfolio of approximately 1,010,000 units and 585 million square feet of rentable space.