The Real Deal Miami

CubeSmart self-storage location coming to Little Havana

An Atlanta-based firm paid $2.3 million for the development site and got a $20.17 million construction loan
November 25, 2017 01:00PM

CubeSmart self-storage building at 19395 Southwest 106th Avenue in Miami

Atlanta-based Mequity Cos. acquired property in the Little Havana area of Miami for construction of a self-storage building.

An affiliate of Mequity bought the development site for $2.3 million from Kay-B LLC, managed by Mario Bramnick.

The South Florida Business Journal also reported that Mequity obtained a $20.17 million loan to finance construction of the eight-story self-storage building, which will have 1,152 units. The lender is Jernigan Capital Operating Co.

The 29,750-square-foot development site at 120 and 132 Northwest 27 Avenue is occupied by a 10,240-square-foot retail building that will be demolished.

CubeSmart will manage the 140,273-square-foot self-storage building that Mequity Cos. is developing in Little Havana.

According to its website, CubeSmart now has eight locations in the Miami area. [South Florida Business Journal] — Mike Seemuth