20 May Seagate Sells Storage Facilities Totaling 139,000+ Square Feet
Seagate Development Group has sold two self-storage facilities to Public Storage. They are located at Arbor Towne Square Shopping Center (10688 Colonial Blvd.) in Fort Myers and at 20091 Tiburon Way in Estero. SW Management & Realty, LLC – a Seagate Development Group affiliate – was the broker in this transaction.
Seagate developed and constructed these storage facilities in 2019 and 2020. This came after eight months of research and due diligence, including a site selection from among six potential sites. The result was Arbor Towne’s 76,000-square-foot facility over 663 units as well as University Storage’s 63,275-square-foot, three-story building over 601 units.
“As we began to achieve our occupancy goal, we realized it was time to take advantage of the market’s interest in this type of asset,” said Bill Price, Chairman & Partner at Seagate Development Group. “Public Storage is the largest brand of its kind in the U.S., so we’re leaving these facilities in more than capable hands, while we tend
to more opportunities of this nature and fulfill Southwest Florida’s demand for more storage space.”
Seagate currently owns a CubeSmart self-storage facility at 5320 Useppa Drive in Ave Maria – the result of a partnership with Ave Maria Development. The leading, full-service development company is also searching for new development opportunities in Southwest Florida.
For more information on Seagate’s extensive commercial portfolio, visit SeagateDevelopmentGroup.com.
About Seagate Development Group
Seagate Development Group is a leading, full-service development company specializing in a design-build process via new construction, custom renovations, interior design, and management and leasing services.
Seagate’s high-profile, landscape-changing design-build projects include NeoGenomics’ 150,000-square-foot, $60-million global headquarters and Scotlynn USA Division Inc.’s 60,000-square-foot North American corporate headquarters. The company also manages over 1.5 million square feet of commercial space.
We are currently building custom, end-user residences in Esplanade Lake Club, Quail
West, Talis Park, Hill Tide Estates and other luxury residential communities throughout Southwest Florida. In addition to recently completing a $5-million-plus grand estate model in Quail West, Seagate developed and built 28 custom homes in Windward Isle.