Trico Investments, a real estate investment company operating self-storage facilities as Lighthouse Self Storage and other brands, has acquired a self-storage facility in a small commercial center of Fort Lauderdale, Fla., and rebranded it under the Lighthouse name. The site will be managed by Progressive Realty Partners Inc., Trico's property-management group.
The property at 1121 E. Commercial Blvd. is in a dense and highly populated area of Fort Lauderdale, with visibility from Commercial Boulevard and Dixie Highway, according to a company press release. Facility features include 24-hour access, climate control, boat and RV parking, dock-height storage, video cameras, and the sale of moving and packing supplies.
To take advantage of the strong market, Trico plans to demolish one of the existing buildings and replace it with a new multi-story, climate-controlled building. “We look forward to continuing to build our brand presence and servicing the local communities within Southeast Florida," said CEO Mike Rolfes.
Last month, Trico acquired Midway Self Storage in Miami. The facility is in an urban market that consists of high-density, multi-family residential and retail centers, according to the release.
Headquartered in Irvine, Calif., Trico is a real estate fund manager specializing in the acquisition and development of self-storage properties. The company and its affiliates have designed, developed or owned nearly 100 storage facilities across the United States and managed more than 20,000 storage units in California and Florida.
Lighthouse Self Storage provides self-storage for personal and business customers as well as boat and RV storage in California and Florida.
Founded in 1996, Progressive Realty Partners is a property-management company specializing in apartment complexes, office buildings and self-storage facilities in California and Florida. Its team currently manages more than 1.4 million square feet of space.