Liberty Investment Properties Continues to Expand Southeast Self-Storage PortfolioLiberty Investment Properties Continues to Expand Southeast Self-Storage Portfolio

Liberty Investment Properties Inc., which develops and operates commercial real estate, has purchased a new self-storage facility in Tampa, Fla., in partnership with private investors. The three-story property at 5045 W. Cypress St. is days away from opening, according to a press release.

It’ll be managed by self-storage real estate investment trust Extra Space Storage and branded under its name. Located in the Westshore Business District, which includes Tampa International Airport, the facility contains 550 climate-controlled units.

“We are extremely intentional about the location in which we are developing new storage product,” said Adam Mikkelson, president of Liberty. “Our unique understanding of demand and providing a quality product for our customers are top priorities for our organization.”

Liberty was represented in the transaction by Jeff Dervech, president of real estate firm Dervech Real Estate Inc.

With a significant commercial investment presence in the Tampa market, Liberty is positioned for ongoing growth throughout the Southeast. Earlier this year, it opened a four-story storage facility in downtown St. Petersburg, Fla., as well as its third WoodSpring Suites, an extended-stay hotel.

Based in Orlando, Fla., Liberty focuses on income-producing assets and related equity and debt investments on behalf of individual and institutional investors. The company was founded by husband and wife Mike and Melissa Mikkelson, who built their first self-storage facility in 1988. It has diversified to offer a range of investment, asset-management and development ventures in the self-storage and hospitality industries. It’s storage portfolio includes 12 facilities in the Southeast, with several new developments planned for 2018.

Source:
Newswire, Liberty Investment Properties Continues to Expand Southeast Portfolio