Go Store It, an affiliate of Madison Capital Group, has opened an adaptive reuse self-storage facility in Pensacola, Florida.
The 70,147-rentable-square-foot property formerly was an office building originally completed in 1972. BenCo Construction was part of the development team.
According to the same data provider, the project was subject to a $7 million construction loan in 2022, funded by Ameris Bank.
The two-building, two-story property has 530 climate-controlled units ranging between 38 and 250 square feet. Amenities include video surveillance, keypad access, moving and packing supplies, security lighting and fencing, as well as dolly and flatbed carts for on-site use.
Situated on 4 acres at 3670 N. L St., the facility is near Interstate 110 and U.S. Route 29 and some 3 miles from downtown Pensacola. Its location and existing building features were among the reasons for transforming the property into a self-storage facility, according to prepared statements from Neil Dyer, vice president of acquisitions for Go Store It.
Go Store It Pensacola serves the surrounding area which includes Brent, West Pensacola, Bellview and Myrtle Grove. The facility is one of the 12 available within a 3-mile radius, offering residents 12.8 rentable square feet per capita. As of early January, the Pensacola market had nine self-storage facilities under construction, set to add 557,307 rentable square feet to the existing inventory.
Go Store It recently opened another location in Florida. The 107,200-square-foot facility will serve the Naples market.
