Patriot Self-Storage to Develop Facilities in North Port

May 3rd, 2007

Patriot Self-Storage Management has purchased two development parcels totaling 14.3 acres in North Port, FL, for $7 million, or about $490,000 per acre. The company plans to spend $9 million to construct 200,000 square feet of self-storage facilities there. The three-story, climate-controlled buildings will each sit on 2.5 acres. The remaining land will be used for other retail development.

This sounds like a strategic mixed-use of the property that will drive traffic to the storage facilities. If self-storage can colocate with retailers, like the Wal-Marts of the world, then gaining momentum is that much easier. There is still plenty of consumer education to be done, though. Just because you build it… you know the story. Even a prime retail plot of land doesn’t gaurantee success, but it sure helps!

Entry Filed under: Industry Happenings