From downsizing boomers to millennials squeezing into an apartment, developers are working to meet the demand for storage.
Don’t have a self-storage center near you?
You likely will.
More than a dozen self-storage centers are proposed or in development – some further along than others – in Northeast Florida.
Vice President Michael Biagini said Scherer Construction has seven projects in design or construction in Florida.
“Both our youngest and oldest adult populations are in a transitional state. The younger is renting at various locations over time with no permanent place. The older is downsizing and not sure what to do with the stuff they can’t get rid of yet,” he said.
That, in brief, describes the reason for the influx of storage centers.
“These developments are straightforward to design, permit and construct,” Biagini said.
They also are considered a favorable investment. “If developed in an underserved area, they have a reliable return with low operation and maintenance cost,” he said.
Investor interest “has boosted demand for purchase, prompting the rush for developers to get them to market,” Biagini said.
Whoever completes a project “will benefit from a glut of waiting investment funds and a nice return for their efforts.”
Self-storage centers in the pipeline
With apartment-dwelling millennials and downsizing baby boomers seeking space for their stuff, developers are adding self-storage centers around the area. Here's the status of 12 self-storage projects in review:
Palms at Gate Parkway: The city issued a permit for a four-story project at 7490 Gate Parkway at The Palms at Gate Parkway.
Gate Parkway self-storage: The city is reviewing a permit for a three-story project at 7782 Gate Parkway.
Flagler Center: The city is reviewing civil plans for a 120,460-square-foot project along Gran Bay Parkway in Flagler Center.
Collins Town Center: Rezoning is requested for a four-story, 115,200-square-foot facility at southwest Parramore Road and Parramore Street in Collins Town Center.
EastPark: The city issued mobility fee calculation and concurrency reservation certificates for a 131,474-square-foot center at 3555 St. Johns Bluff Road S., the former Sears appliance center.
Herlong: A 167,219-square-foot CubeSmart Self Storage center is proposed along Normandy Boulevard at Herlong Road.
Blanding: The city is reviewing a permit application for interior demolition of the former 110,000-square-foot Kmart at 4645 Blanding Blvd. for Blanding Self-Storage.
St. Augustine: St. Johns County is reviewing plans for two three-story storage buildings totaling 82,915 square feet along Florida 207.
Durbin Park: The St. Johns River Water Management District issued a permit for a three-story, 90,000-square-foot building along St. Johns Parkway in the Parkway Place development in St. Johns County.
St. Johns County: Sun Coast Self Storage of St. Augustine wants to build a center at 10370 U.S. 1 at Panther Lane and Ray Road.
Florida 16: St. Johns County is reviewing a pre-application for construction of a 147,735-square-foot facility along Florida 16.
Lightsey Road: The St. Johns River Water Management District is reviewing a permit application for the eight-building Lightsey Road self-storage project along Florida 207.