A multi-story, mixed-use property that will include a CubeSmart-branded self-storage facility, a restaurant and retail is planned as part of the Ravaudage Complex in Winter Park, Fla. An unidentified buyer acquired the 1.48-acre property from Sydgan Corp. for $3.55 million with the intent to build 97,000 square feet of space. The restaurant and retail components will be on the ground floor, and construction is expected to begin immediately, according to a press release from the Argus Self Storage Sales Network (ASSSN), a national network of real estate brokers, which helped broker the deal.
The 73-acre Ravaudage Complex is expected to include hotel, medical, multi-family, office and retail uses, and “could be the largest urban-infill project proposed along Florida’s new commuter-rail system,” the release stated.
Sydgan was represented in the deal by Josh Koerner, associate, and Frost Weaver, chair, of Weaver Realty Group LLC, a Jacksonville, Fla.-based brokerage and property-management firm. Both are Florida affiliates for ASSSN.
CubeSmart is a self-storage real estate investment trust and third-party management firm. It owns or manages 910 self-storage facilities across the United States. Its operating portfolio comprises more than 60.5 million square feet.
Based in Winter Park, Fla., Sydgan is a property-management and development company that offers single-family, multi-family, retail, industrial and commercial properties for lease. It is committed to making Winter Park a more beautiful place to live and work, according to its website.
ASSSN is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.