Broome Storage LLC, a division of private-investment group Broome Capital LLC, received unanimous rezoning approval from the city to build a five-story self-storage facility in Tampa, Fla. The property on West Gandy Boulevard will be across from the Westshore Marina District (WMD), a $600 million master-planned community, according to a press release.
The facility will comprise 87,750 square feet of storage space in 750 units, and feature design elements related to the area. It’ll be managed by self-storage real estate investment trust Extra Space Storage and branded under its name.
Broome Storage has been actively building its portfolio in recent months. Its property in downtown St. Petersburg, Fla., is expected to receive Certificate of Occupancy in June, and another development in the Seminole Heights neighborhood of Tampa broke ground last month. The company also has several others in the planning and permitting stages, the release stated.
“By being the local sharpshooters in our market, we’ve been able to successfully navigate around any potential issue of oversupply by identifying these untapped up and coming submarkets,” said Jordan Farrales, acquisitions and development manager for Broom Capital.
Based in Tampa, Broome Capital pursues urban-infill development of luxury townhomes, single-family rentals and self-storage. Its family of companies includes Icon Residential, Proluxe Properties and Storage City.
Sources:
PR Newswire, Broome Capital Receives Approval for Tampa Self-Storage Facility
Commercial Property Executive, Broome Storage to Develop Tampa Facility
