MCSS Self Storage LLC, a developer of urban infill self-storage facilities in South Florida, has purchased its ninth development site in the state for an undisclosed amount. The acquisition is near Doral, Fla., in Miami-Dade County. It’s close to the intersection of Northwest 36th Street and Palmetto Expressway, on the northeast corner.
The development will comprise 77,600 net rentable square feet of storage space in 925 climate-controlled units. It will be managed by CubeSmart, a self-storage real estate investment trust and third-party management firm.
With this acquisition, MCSS is on track to develop its goal of 20 projects in South Florida, according to a press release. “We are continuing on our quest to acquire the best sites in South Florida and select strategic markets,” said Jay Massirman, managing director at MCSS.
MCSS is developing several locations throughout the tri-county area, including some near Coconut Grove, Davie, Fort Lauderdale, Miami, Pembroke Park, Pembroke Pines, SoLMia and Sweetwater. It’s also active in several areas of Broward and Palm Beach County, the release stated.
Formerly known as Miami City Self Storage LLC, MCSS is a joint venture between real estate industry veterans David Blum, Stephen Garchik, Massirman and Steve McBride. The company is actively pursuing new development opportunities.
CubeSmart owns or manages 708 self-storage facilities across the United States. Its operating portfolio comprises 47.3 million square feet.