Volta Global LLC, a private investment firm, has purchased a former Sports Authority in Orlando, Fla., which it plans to convert to self-storage. It will be the company’s first new development since entering the storage market last year under the First USA Storage brand. The 9.5-acre property at 7500 W. Colonial Drive will be managed by self-storage real estate investment trust Extra Space Storage Inc., according to the source.
The 90,000-square-foot, climate-controlled facility will be built in two phases. The first is expected to open in six months, the source reported. Property features will include electronic gate access, a modern office and video cameras.
Sarasota, Fla.,-based Baldwin-Howell Properties LLC is the developer on the project. The Starling Group, a real estate and development company, will serve as the general contractor.
Volta Global has a global, multi-faceted investment strategy across venture capital, private equity, real estate and public markets. It owns and operates 220,000 square feet of self-storage in Louisiana, North Carolina and Tennessee.