Less than a month after completing construction on its newest Lakeland, Florida, climate controlled self storage (CCSS) facility, MV Investment sold the asset to HPI. The deal closed on October 24. CubeSmart will oversee lease-up and management for HPI, which has purchased several assets from MV Investment over the past 36 months. Located on Kathleen Road, the Class-A facility is the second CCSS developed by MV Investment in Lakeland. The 94,569 SF, three-story structure offers units ranging in size from 5’x5’ to 10’x25’.
“Lakeland’s residential market is experiencing explosive growth in both single and multifamily housing,” said Aaron Rowley, Senior Developer at MV Investment. “With a new hospital under construction nearby, we recognized an opportunity to meet continued demand for high-quality, secure self storage options in a highly visible and easily accessible location.”
Since 2018, MV Investment has developed and sold 17 self-storage units in Florida, Kentucky, North Carolina, South Carolina, and Tennessee.