JLL Capital Markets has arranged a $20 million construction loan for Tarpon River Self Storage, a five-story, 97,862-square-foot development at 201 S.W. 14th Street in Fort Lauderdale, Florida. Pinnacle Financial Partners and Synovus provided the financing on behalf of developer Urban Street Development. The facility will include 1,070 climate-controlled units on a 1.82-acre infill site.
Fort Lauderdale’s self-storage market has maintained occupancy above 90% with annual rental growth of roughly 5% to 7%.
Source: JLL
