Nuvo Development Partners LLC will soon begin construction on a three-story, climate-controlled self-storage facility in Palm Beach Gardens, Fla. The $15 million project is near Burns Road, Interstate 95 and Florida State Road A1A. Expected to be complete in November 2019, the project will comprise 100,000 square feet of storage space. It’ll be managed by self-storage real estate investment trust Extra Space Storage and branded under its name, according to a press release.
It took the Nuvo Development team nearly three years to gain approvals for the project. “The city of Palm Beach Gardens is very particular about zoning and land use, so we are confident that there will not be another competitor entering this market any time soon,” said Jason Canin, partner and vice president of real estate.
The company seeks to build in markets with high barriers to entry and unmet self-storage demand, said Gary Cardamone, CEO and managing partner. “Quite frankly, our Palm Beach Gardens site is the best location I’ve seen in 20 years.”
Founded in 2014, Nuvo Development is an affiliate of Winter Park, Fla.-based Nuvo Co. It offers architecture, development and engineering services to the self-storage industry. The company is led by Gary Cardamone, who founded the Stor-A-Way brand in 1999 with his brother, Rich Cardamone. The brothers sold the properties in 2007.