Pinnacle Buys Land, Scores Construction Loan for Jupiter Self Storage Facility

Posted: 5/17/2018 Link:
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A company tied to self storage developer Pinnacle Storage just bought land in Jupiter and scored $8.85 million in construction financing to build its planned 97,500 square-foot facility. The project includes demolishing the vacant Ellison Graphics building at 1400 West Indiantown Road. Property records show Jupiter Self Storage LLC paid $3.5 million for a 1.6 acre site.

Doug Smith of EWM Realty International represented the buyer in the deal. First Southern National Bank provided the financing. Pinnacle President Chris Perry said he plans to start demolition work in June, with completion expected during the summer of 2019.

Self storage company and real estate investment trust Life Storage, based in Williamsville, New York, will be managing the facility, Perry said. Kenneth Carlson Architects designed the project.

Once complete, the three-story self storage facility will feature 700 climate-controlled storage units. The property sits on the south side of Indiantown Road, across from the Jupiter Medical Center Urgent Care Clinic.

Pinnacle is also behind the recently completed self storage facility at 1144 Northwest Seventh Street in Miami, just two blocks south of the Miami River and east of Marlins Park. The Jupiter project would be the company’s first in Palm Beach County.

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