Update 1/17/18 – Westport Properties has completed construction on its self-storage facility at 1396 N.E. 125th St. The US Storage Centers location comprises 147,027 square feet in 1,200 units. Westport partnered with The Feldman Cos. on the development, according to a press release.
The property features alarmed and climate-controlled units, covered loading and unloading areas, elevators, non-gated keypad access, and video cameras. It also offers boxes and moving supplies for sale. The facility is Westport’s seventh in the Miami market.
“North Miami is a vibrant, growing area that is sought after by anyone looking for a wonderful climate, demographically diverse and economically strong area to live, work and play,” Byerly said. “US Storage Centers has a very large presence in South Florida, specifically Miami and Fort Lauderdale. We will continue to look to grow our presence in the coming years, as the market allows, and will continue to operate here for years to come.”
The Feldman Cos. is a privately owned real estate development, construction-management and investment company. It has completed more than 1 million square feet of ground-up development and has 600,000 square feet in various stages of entitlement and construction, the release stated.
1/7/16 – CRP/Westport Self Storage Dixie, a joint venture between Westport Properties and investment firm The Carlyle Group, has secured a $10.4 million construction loan for the US Storage Centers project on Dixie Highway. Financing was provided by Branch Banking & Trust Co., according to the source.
The developer acquired the Miami property in October for $1.4 million and could be planning additional self-storage projects in the area. The joint venture also acquired properties at 1396 N.E. 125th St. as well as 12380, 12400 and 12450 N.E. 13th Place in North Miami for $3.6 million under CRP/Westport Self Storage 125th LLC, the source reported.
The Carlyle Group is a global alternative asset manager with $188 billion of assets under management in Africa, Asia, Australia, Europe, the Middle East, North America and South America, according to its website. The company specializes in aerospace, defense and government services, energy, financial services, healthcare, real estate, technology and business services, telecommunications, transportation and other industries.
10/21/15 – Westport Properties Inc. (WPI), which operates 86 self-storage facilities under the US Storage Centers brand, recently received approval to develop a storage facility at 15555 W. Dixie Highway in North Miami, Fla. The five-story facility will comprise 123,000 rentable square feet and is expected to open in the spring of 2017, according to a press release.
The asset will feature climate-controlled units, a security system and site amenities, company officials said.
“Our development pipeline is very full, and all of the facilities are designed to meet tomorrow’s standards and the growing demands of our customers,” said Charles Byerly, president and CEO. The company recently opened a flagship location in Alhambra, Calif., and entered the Nevada market in August.
“Our first storage project, which is still in our portfolio, was built in 1985, so at our core, we are developers,” added Drew Hoeven, president of real estate. “We are long-term owners, and when we build, we put a high premium on quality and features that will last for decades to come. This project is no different.”
Founded in 1985 and based in Irvine, Calif., WPI is a real estate investment company that acquires, develops and operates self-storage facilities as well as provides third-party management services. It’s portfolio comprises more than 6.5 million rentable square feet in 13 states. It's affiliated with Westport Memphis Self Storage LLC.
Sources:
PRWeb, US Storage Centers Announces North Miami Development Project
South Florida Business Journal, BB&T Lends $10.4M to Build Self Storage Center
