PO Box 1212
Tampa, FL 33601

Pinellas
(727) 726-8811
Hillsborough
(813) 258-5827
Toll Free 1-888-683-7538
Fax (813) 258-5902

Click For A FREE Quote
TOOLS
CONVERSION CHART
STANDARD DEVIATION
MORTGAGE CALCULATOR

Updated November 2024


RETURN TO NEWS INDEX

High-end storage facility to open in downtown St. Petersburg
By Mark Albright,
St. Petersburg Times
Published: Oct 1, 2009

Despite a market swimming in unsold luxury condos, downtown St. Petersburg is getting a new high-end storage facility for prospective buyers to stash what won't fit in their downsized lifestyle.

The self-styled Nordstrom of the self-storage industry, the Lock Up opens in mid October with some features rare or new to the Tampa Bay area's vast miniwarehouse community.

The whole place, including the storage units, will be carpeted. Customers are protected from the elements by driving into an enclosed, air-conditioned bay to load and unload their stuff. Tenants get the keys to a delivery truck free for a day to help move.

If there's enough demand, they'll even add a climate-controlled wine cellar for serious oenophiles.

Because 80 percent of self-storage selections are made by women, features are designed to make the place look clean and secure behind keypad access and 30 monitored security cameras.

"We came here mainly because of all the new luxury condos," said Jeff Fitzgerald, regional manager of the Lock Up, which initially will be equipped with 510 spaces ranging from 100 5-footers the size of a closet to 15- by 25-footers big enough for a houseful.

The staff will accept and secure UPS and FedEx deliveries to tenants until an owner claims them.

"We see a market for small business, too," said manager Tom Mercurio. "All you need to be in business today is a cell phone and a place to store inventory."

Given the collapse of the housing market and tight credit, the timing of the opening could be better. A flood of downtown luxury condos has had to resort to deep discounting to stimulate sales or try renting to fill their units.

Last year, for the first time, the storage industry discovered a floor to what had been a bottomless pit of space filled by the pack rats of America's consumer culture. More customers moved out than moved in nationally as customers sought household frills to cut.

"When it's a choice between cable TV or the self-storage unit, most people choose cable," said Brenda Scarborough, president of Accountable Properties, a Lutz firm that manages 41 storage warehouses, including a dozen in the bay area.

Built in a former phone book printing plant at 1700 First Ave. S, the Lock Up is the first Tampa Bay project from BRD Development LLC, a family-owned Chicago company that owns 29 self-storage warehouses, including six others from Sarasota to Naples. Backed by a partnership with a pension fund, the company built facilities from Cape Cod to Honolulu. It's also scouting sites on Florida's west coast.

BRD hedged its risks in St. Petersburg. It won't outfit the second floor of its storage facility for a year until it learns actual demand. Like apartment landlords, it eases customers into premium rates with offers of free months. The company owns 50,000 square feet more that is available for lease or could eventually be used for expansion.

"Fortunately, storage facilities are very flexible space," Fitzgerald said.

Mark Albright can be reached at albright@sptimes.com or (727) 893-8252.



| INTRO | FAQ | RESIDENTIAL | COMMERCIAL | NEWS | RESOURCES | TOOLS | TEAM | CONTACT | CLIENTS LOGIN | PRIVACY |

FacebookTwitterLinkedin
Copyright 1999-2024, Appraisal Development International, Inc