Self-Storage REIT Extra Space Seeks to Expand Facility in Miramar, FL

Extra Space Storage Inc., a publicly traded self-storage real estate investment trust (REIT), is seeking to expand the storage capacity of its facility in Miramar, Fla. The expansion would include demolition of seven existing buildings on the 7.2-acre site to create room for two storage structures comprising more than 102,000 square feet, according to the source. The project, which would enlarge the facility from 68,372 to 111,993 square feet, will be discussed by the development-review board on Thursday.

Extra Space Storage Inc., a publicly traded self-storage real estate investment trust (REIT), is seeking to expand the storage capacity of its facility in Miramar, Fla. The expansion would include demolition of seven existing buildings on the 7.2-acre site to create room for two storage structures comprising more than 102,000 square feet, according to the source. The project, which would enlarge the facility from 68,372 to 111,993 square feet, will be discussed by the development-review board on Thursday.

The main three-story building would comprise 98,695 square feet, with 71,850 square feet designated as rentable space. A 3,400-square-foot structure featuring drive-up units would also be constructed. The existing 9,898-square-foot office would remain, the source reported.

The project at 3390 S. State Road 7 was designed by FWH Architects. The facility expansion would be one of several South Florida self-storage projects in development due to rising population, the source reported.

Headquartered in Salt Lake City, Extra Space owns or operates 1,371 self-storage properties in 37 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 910,000 units and 103 million square feet of rentable space.

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