{"id":1004185549,"date":"2017-07-31T09:12:56","date_gmt":"2017-07-31T17:12:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185549"},"modified":"2022-12-08T01:16:13","modified_gmt":"2022-12-08T09:16:13","slug":"jernigan-capital-announces-self-storage-project-completes-3-facilities","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-announces-self-storage-project-completes-3-facilities\/","title":{"rendered":"Jernigan Capital Announces Self-Storage Project, Completes 3 Facilities"},"content":{"rendered":"

By Alexandra Pacurar<\/p>\n

\"CubeSmart<\/a>

CubeSmart Ocoee in Orlando, Fla.<\/p><\/div>\n

Jernigan Capital Inc. closed an $8 million investment in a 749-unit multi-story, climate-controlled self-storage facility<\/a> in Jacksonville, Fla. The proposed 68,700-square-foot ground-up project will be built by Structure Development LLC and will break ground in the fourth quarter of 2017. Construction work is expected to be complete by the end of 2018.<\/p>\n

The facility will be located on Edison Avenue, half a mile from downtown Jacksonville, and will be visible from interstates 10 and 95. Brooklyn Station, a new Fresh Market-anchored retail destination and several new, upscale apartment communities are situated nearby. This is the third self-storage project in which Jernigan and Structure are co-investors.<\/p>\n

New projects open under CubeSmart brand<\/h2>\n

Three new self-storage facilities, in which Jernigan holds 49.9 percent profits interest, are now open for business. The first is a 584-unit multi-story, climate-controlled self-storage facility in Pittsburgh, Pa., in which the company invested $5.3 million.<\/p>\n

The 287-unit addition to Jernigan\u2019s Ocoee self-storage facility in Orlando, Fla. is operational, after a $5.1 million investment from the Memphis, Tenn.-based firm. The Sunshine State also welcomed a new 787-unit multi-story, climate-controlled self-storage property in Jacksonville. For this project, Storage Partners LLC, the company\u2019s joint venture with Heitman and an institutional investor, contributed $8.1 million.<\/p>\n

The new facilities are all managed by CubeSmart.<\/p>\n

Image courtesy of Jernigan Capital Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company is investing $8 million in a new facility in Jacksonville that will break ground by the end of the year. Three similar developments in which it invested are now operational. <\/p>\n","protected":false},"author":236,"featured_media":1004185551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1591,21742],"tags":[35721,33293,37029],"class_list":["post-1004185549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-jacksonville","category-latest","tag-cubesmart","tag-jernigan-capital","tag-structure-development-llc"],"acf":[],"yoast_head":"\nJernigan Capital Announces Self-Storage Project, Completes 3 Facilities - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-announces-self-storage-project-completes-3-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jernigan Capital Announces Self-Storage Project, Completes 3 Facilities\" \/>\n<meta property=\"og:description\" content=\"The company is investing $8 million in a new facility in Jacksonville that will break ground by the end of the year. 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