The facility was built to meet growing demand in one of the nation’s top emerging markets.
Colorado-based real estate investment firm Spartan Investment Group has opened FreeUp Storage Eustis, a 660-unit 76,200 square-foot Class A asset located in Eustis, Fla. The company built the property from the ground up to meet self-storage facility needs in Central Florida.
According to sources, Spartan bought the site located at 36536 South Fish Camp Road in the summer of 2024 from a private owner, receiving a $6 million construction loan from Renasant Bank.
Spartan’s in-house construction team oversaw the construction of the facility, which was completed less than a year after purchasing the site.
FreeUp Storage Eustis has a total of 66,975 net rentable square feet, and 340 of its units are climate-controlled. It’s located just off Lake Eustis in Central Florida, 47 miles outside of Orlando.
A recent analysis ranked North Central Florida as the top emerging self-storage market in the nation, due in part to the area’s strong in-migration. As of March of this year, the region has more than 1 million square feet of space under construction, and its inventory has 2.2 square feet per person above the national average.
Throughout this year, Spartan Investment Group has expanded its self-storage portfolio across the U.S. Back in January, the company bought two self-storage facilities in Salem, Ore. totaling 164,752 net rentable square feet and 1,150 units.
In Arkansas, Spartan made another acquisition of three storage facilities in Bentonville, Rogers and Springdale. With this purchase, Spartan added another 1,890 units and 323,780 net rentable square feet in the state. In the future, the company will be investing over $1 million in upgrades at the facilities.
