Uncle Bobs Self Storage, a national provider with more than 450 locations nationwide, is nearly doubling the storage capacity at its facility in North Fort Myers, Fla. The operator is adding a 32,000-square-foot, air-conditioned building that will back up to an existing 36,000-square foot building. The project is part of a recent wave of self-storage construction in the state, according to Lewis Pollack, president of the Florida Self Storage Association.
Sovran Self Storage Inc., the parent company of Uncle Bobs, purchased the property on North Tamiami Trail in 2010 for $151,000, according to the source. We started looking at this parcel of land in 2008 and 2009. We closed in 2010, but we didnt jump to develop it, said Diane Piegza, vice president for corporate communications for Sovran, noting that market conditions have improved.
Sovran expects the new addition to be open by early next year.
Pollack expects improvements in the residential construction market to further fuel self-storage business and new storage developments, he told the source. Three years ago there were zero [development projects]; last year there were probably four in the whole state, he said. This year there are probably 12 to 15.
Sovran is a real estate investment trust that acquires and manages self-storage facilities. It is one of the largest self-storage operators in the country, with facilities across 25 states. The company ranked No. 5 on the Inside Self-Storage 2013 Top-Operators List.
Sources:
- News-Press.com: North Fort Myers Self-Storage Operator Expands
