{"id":1004199250,"date":"2017-12-05T09:53:33","date_gmt":"2017-12-05T17:53:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199250"},"modified":"2022-12-09T02:47:59","modified_gmt":"2022-12-09T10:47:59","slug":"jernigan-capital-co-invests-with-nh-based-developer","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-co-invests-with-nh-based-developer\/","title":{"rendered":"Jernigan Capital Co-Invests with NH-Based Developer"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/self-storage-news.png\"><img decoding=\"async\" data-attachment-id=\"1004199252\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-co-invests-with-nh-based-developer\/self-storage-news-6\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/self-storage-news.png\" 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;0&quot;}\" data-image-title=\"self storage news\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/self-storage-news.png?w=800\" loading=\"lazy\" class=\"alignright  wp-image-1004199252\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/self-storage-news.png\" alt=\"self storage news\" width=\"346\" height=\"294\" \/><\/a>Jernigan Capital Inc. has invested $8.7 million in a 719-unit, multi-story self-storage facility in Salem, N.H., marking the company&#8217;s first co-investment with 603 Storage, a New Hampshire-based developer. Construction is scheduled to begin in the first quarter of 2018\u00a0and be completed by year-end.<\/p>\n<p>Located at 10 Hampshire Road, the proposed 74,625-net-rentable-square-foot asset will be situated off Route 28, at the border of New Hampshire and Massachusetts. This location will provide exposure to more than 20,000 cars per day. Boston is situated approximately 25 miles away\u00a0via Interstate 93. The facility will be across the highway from a Lowe\u2019s-anchored shopping center.<\/p>\n<h2>High demand<\/h2>\n<p>Besides serving the City of Salem, the new self-storage facility will also serve Methuen and Lawrence cities, both located in Massachusetts. The cities are part of a densely populated submarket and over 50 percent live in multifamily housing and have one self-storage square per person,\u00a0a figure that is below the national average. The market is currently served by big-box retailers such as Target, Home Depot and Apple.<\/p>\n<p>One of Jernigan Capital\u2019s latest investments includes a <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-unveils-plans-of-120-ksf-self-storage-facility-in-ca\/\">self-storage project in Inglewood<\/a>, Calif., proposed by a joint venture of Miami City Self Storage and Cypress Equity Investments. Jernigan invested\u00a0$28.7 million loan in the asset.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has co-invested with 603 Storage in a 719-unit self-storage development in Salem, N.H. The project is expected to be completed in 2018. <\/p>\n","protected":false},"author":871,"featured_media":1004199252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21782,21783,21742,10],"tags":[38465,33293,38464],"class_list":["post-1004199250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-development","category-investment","category-latest","category-northeast","tag-cypress-equity-investments","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>Jernigan Capital Co-Invests with NH-Based Developer - 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-co-invests-with-nh-based-developer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jernigan Capital Co-Invests with NH-Based Developer\" \/>\n<meta property=\"og:description\" content=\"The company has co-invested with 603 Storage in a 719-unit self-storage development in Salem, N.H. 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