Jernigan Invests $50M in Self-Storage

The climate-controlled, multi-story projects will be located in Boston, New York and Knoxville, Tenn. The 3,100-unit portfolio is scheduled to come online in 2018.

Jernigan Capital, Inc. has committed to investing $49.7 million in three new climate-controlled, multi-story self-storage developments.


The company will invest $26.5 million in a proposed 40,593-square-foot, 1,424-unit project in New York City. Located at 465 W 150th St., the previous storage facility will be converted into a multi-story building by developer Mequity LLC. Construction is projected to begin in the third quarter of 2017 and be completed by the end of second quarter of 2018.

A proposed 93,738-square-foot, 951-unit self-storage facility will be built in the Boston MSA on Boston Post Road, an active thoroughfare for commuters and a retail heavy corridor. Developed by Marlboro Storage Members, the development is close by Target and Home Depot anchored shopping centers and will be visible to over 20,000 cars per day. The project is expected to start in the third quarter of 2017 and be finished by the end of the second quarter of 2018…

Jernigan Invests $50M in Self-Storage

Categories : Finance

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