{"id":1004198728,"date":"2017-11-30T08:02:57","date_gmt":"2017-11-30T16:02:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198728"},"modified":"2022-12-08T16:56:28","modified_gmt":"2022-12-09T00:56:28","slug":"jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\/","title":{"rendered":"New JV to Build 120 KSF CA Self-Storage Facility"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004198729\" style=\"width: 353px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Jay-Massirman-8-17.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004198729\" data-attachment-id=\"1004198729\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\/jay-massirman-8-17\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Jay-Massirman-8-17.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Jay Massirman\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jay Massirman&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Jay-Massirman-8-17.jpg?w=800\" class=\"wp-image-1004198729 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Jay-Massirman-8-17.jpg\" alt=\"Jay Massirman\" width=\"343\" height=\"268\" \/><\/a><p id=\"caption-attachment-1004198729\" class=\"wp-caption-text\">Jay Massirman<\/p><\/div>\n<p>Miami City Self Storage and\u00a0Cypress Equity Investments\u00a0have formed Pacific Storage Partners, a joint venture targeting urban infill development opportunities in Los Angeles and Northern California. The new entity&#8217;s\u00a0first development, a 120,000-square-foot self-storage facility, will be located in Inglewood, Calif. <a href=\"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-closes-62m-in-self-storage-investments\/\">Self-storage lending<\/a> REIT Jernigan Capital has invested $28.7 million in the project.<\/p>\n<p>Pacific Storage Partners has closed $61.7 million in transactions in the first part of the year, and it continues to invest in facilities across the country.<\/p>\n<p><em>\u201cThis strategic venture significantly expands our West Coast urban storage development coverage,\u201d<\/em> said Jay Massirman, partner\u00a0at Miami City Self Storage, in prepared remarks.<\/p>\n<h2>Strategic location<\/h2>\n<p>Located on West Hyde Park Boulevard, the facility will be\u00a0under two miles from Hollywood Park, the site of the new 70,000-seat Los Angeles Stadium, a venue for the 2028 Summer Olympics. Additionally, the development, situated along the 405 Freeway, will be visible to approximately 300,000 vehicles per day.<\/p>\n<p><em>\u201cOver the past 15 years, our company has applied innovative strategies to real estate investments and developments,\u201d<\/em> said Michael Sorochinsky, founder &amp; CEO of Cypress Equity Investments. <em>\u201cWe see this venture with Miami City Self Storage as another example of that approach. There is an untapped demand for vertical self-storage facilities in dense urban areas.\u201d<\/em><\/p>\n<p>According to the plans, construction of the Inglewood facility will begin in the first quarter of 2019 and it is expected to end by mid-2020.<\/p>\n<p><em>Image courtesy of Miami City Self Storage\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture of Miami City Self Storage and Cypress Equity Investments will develop its first facility in Inglewood, Calif. Self-storage lending REIT Jernigan Capital has invested $28.7 million in the project.<\/p>\n","protected":false},"author":871,"featured_media":1004198729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21783,1594,21742,15],"tags":[38465,38466,33293,38464],"class_list":["post-1004198728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-investment","category-los-angeles","category-latest","category-west","tag-cypress-equity-investments","tag-jay-massirman","tag-jernigan-capital","tag-miami-city-self-storage-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New JV to Build 120 KSF CA Self-Storage Facility - 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\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New JV to Build 120 KSF CA Self-Storage Facility\" \/>\n<meta property=\"og:description\" content=\"A joint venture of Miami City Self Storage and Cypress Equity Investments will develop its first facility in Inglewood, Calif. Self-storage lending REIT Jernigan Capital has invested $28.7 million in the project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-30T16:02:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:56:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Jay-Massirman-8-17.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/\"},\"author\":{\"name\":\"Evelyn Jozsa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"headline\":\"New JV to Build 120 KSF CA Self-Storage Facility\",\"datePublished\":\"2017-11-30T16:02:57+00:00\",\"dateModified\":\"2022-12-09T00:56:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/\"},\"wordCount\":256,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/Jay-Massirman-8-17.jpg\",\"keywords\":[\"Cypress Equity Investments\",\"Jay Massirman\",\"Jernigan Capital\",\"Miami City Self Storage LLC\"],\"articleSection\":[\"Deals\",\"Development\",\"Investment\",\"Los Angeles\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\\\/\",\"name\":\"New JV to Build 120 KSF CA Self-Storage Facility - 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