The Real Deal Miami

Deerfield Self Storage sells, lands $30M loan

Mortgage was for four industrial properties in Palm Beach and Broward counties
Deerfield Self Storage and Boca Storage

From left: Deerfield Self Storage and Boca Storage

A self storage complex in Deerfield Beach traded hands for $7.75 million, according to Broward County records. The buyer obtained a $30.1 million mortgage for the property and three others in Boca Raton.

Timothy Lewis and Jeanette Austin sold the 4-acre Deerfield Beach Self Storage at 950 South Powerline Road. Lewis Rental Properties LP, a company managed by Lewis, is the buyer.

Macquarie Investment Group granted the loan to Lewis Rental Properties for the 62,104-square-foot self storage facility, in addition to the following properties:

  • 3600 Northwest Second Avenue, Boca Raton: Boca Storage
  • 2920 Northwest Second Avenue, Boca Raton: Industrial office warehouses
  • 1000-1050 Northwest First Avenue, Boca Raton: Industrial office buildings

In April, Miami City Self Storage, which develops in-fill storage facilities throughout South Florida, picked up six parcels in Miami-Dade County as part of its plan to develop 1 million square feet of self storage.