fbpx

Lynd Development Plans to Construct $30 Million Self-Storage/Retail Project in Miami

Lynd Development Group, LLC recently announced plans to build an eight-story, $30 million mixed-use project off U.S. 1 in Miami featuring a state-of-the-art self-storage facility. The company has been approved for 127,923 square feet of storage and 6,025 square feet of ground-floor retail in the Dadeland submarket.

“Lynd is excited to add self-storage as an asset class to our platform,” A. David Lynd, CEO of Lynd Development Group. “It was a natural fit as my partner Constantine has developed several projects in South Florida. This is our first storage deal under Lynd, but it’s the 5th for the team. We feel that storage is a good complement to our core residential business since most renters and homeowners have excess property they won’t give up yet it won’t fit in their homes.”

After signing a 99-year ground lease for the property, Lynd plans to begin construction in about eight months and take about a year to complete. 

The property is adjacent to the Datran Center and Shorty’s BBQ, slated to be redeveloped into a luxury apartment building. The development will serve businesses and residents in the area, where storage facilities are either banned or limited.

“This is a prime location as there is very little competition in the immediate area,” Constantine Scurtis says, Lynd’s Chief Investment Officer, who has been working on entitlements and rezoning for the U.S. 1 site, which received approval. “It will be Miami’s only storage facility that fronts busy U.S. 1 and will provide direct access to the highway, whether you are coming or going. We also expect the retail to perform well since the vacancy rates in this submarket are low and there is no new construction planned.”  

“With South Florida’s recent boom in population, we need more indoor storage capacity for people to put their belongings,” Scurtis says. “Having completed storage projects over the past few years, we have a good feel of what the market is looking for.”

You May Also Like

Construction Begins on Luxury Apartment Project in Royal Palm Beach

Lynd Development recently commenced building The Villas at Tuttle Royale, a 401-unit luxury apartment project in Western Palm Beach County. The real estate firm partnered with Tuttle Land Investments on the project, which required a $126 million construction loan from S3 Capital and $21 million in preferred equity from Declaration Partners. The 401-unit rental community will

Nicklaus Children’s Health System Appoints Kevin Snyder to Serve as Vice President of Marketing and Communications

Kevin Snyder has been hired as Vice President of Marketing and Communications at Nicklaus Children’s Health System (NCHS) in South Florida. NCHS is the parent organization of Nicklaus Children’s Hospital, South Florida’s only licensed specialty hospital exclusively for children. “We are delighted that Kevin will lead our marketing and communications programs,” Jennifer McCafferty-Fernandez says, Ph.D.,

Vinya Wine to Celebrate National No Phone Day With Miami’s Top Restaurants

Wanting restaurant guests to enjoy their meal and camaraderie with friends and family, Vinya Wine is spearheading an initiative to encourage patrons to enjoy a sip of wine with friends or family on National Phone Day. Organized by Allegra Angelo, Vinya Wine partner and sommelier, Tuesday, April 18 has been declared No Phone Day, with

Sales Launch at New Broward Community

Pulte Homes, one of the nation’s largest homebuilders, recently commenced sales at Cassia Commons, a new townhome community in Lauderdale Lakes. The 44-home gated development is located between the Florida Turnpike and I-95, bordered by NW 30th Street to the north, NW 33rd Ave to the west, and Somerset Drive to the east. It is

Other Posts

NSU Broward Center of Innovation Hires Catarina Suplicy as New Director of Community Engagement

The Alan B. Levan | NSU Broward Center of Innovation in Fort Lauderdale hired Catarina Suplicy as the new Director of Community Engagement. Suplicy’s diverse background includes experience in operations, events, sales, catering, and conferences. Suplicy brings excellent organizational and leadership skills, an entrepreneurial mindset, and fluency in three languages to the Levan Center of

Major League Baseball Star Max Scherzer Purchases Luxury Jupiter Estate

Lori Schacter of Illustrated Properties closed the nearly $18 million sale of a waterfront estate in Jupiter’s exclusive Admirals Cove community purchased by Major League Baseball player Max Scherzer. Schacter successfully listed the corner lot at 217 Commodore Drive and secured a sale close to the property’s asking price.  Scherzer, a three-time Cy Young Award

Waterfront Mansion in Boca Raton Lists for Over $22 Million

La Casa Delle Palme, a gated estate offering 150 feet of waterfront property in Boca Raton overlooking the Royal Palm Waterway and Capone Island, was recently listed for $23 million. The Listing Agent is Matthew Quattrociocchi of CENTURY 21 Tenace Realty. The home has seven bedrooms, nine full baths, and two and a half baths

Innovative Mental Health Brand Opens in Coral Gables 

Ellie Mental Health, a franchise focused on making quality mental health services more accessible, continued its national expansion by opening its first location in Coral Gables to provide innovative mental health care services for all ages. The Coral Gables clinic is located at 1533 Sunset Dr, Suite 225. Local owner Nicholas Machado developed a passion