MCSS Self Storage Closes on Pembroke Park Location

MIAMI - Nov. 30, 2015 - PRLog -- MCSS Self Storage LLC (“MCSS”), a developer of urban infill self-storage facilities in South Florida, announced it has closed on the purchase of its eighth land parcel in Pembroke Park in Broward County for an undisclosed amount. With the acquisition of this property, located at 1781 South Park Rd, the company is on track to develop in excess of 1,500,000 gross rentable square feet.

“We are continuing on our plan to be the preeminent developer of urban self storage facilities in South Florida and other strategic markets,” said Jay Massirman, managing director at MCSS. “Our process of carefully selecting infill sites in supply imbalanced markets continues.”

In addition to the most recent purchase, MCSS is developing several locations throughout Miami-Dade & Broward County including those near SoLēMia, Coconut Grove, City of  Miami, Sweetwater,  Doral, and in Fort Lauderdale.

The new self-storage facility will provide clean, safe and secure storage with leading edge technology, architectural design and customer friendly features.  The Pembroke Park project will be approximately 85,000 net rentable square feet with 1,139 climate-controlled storage units. All of the projects will be managed by a self-storage real estate investment trust for the firm.

Self-storage is a growing industry that generated $24 billion in revenues in 2013, according to the Self-Storage Association (SSA) and is forecast to reach $30 billion in revenues by 2019, according to IBIS World. The market is made up of a handful of large companies plus 30,000 single-facility entrepreneurs. Driving the traditional demand for self-storage across the U.S. are the four Ds: death, divorce, disaster and dislocation. In addition, the country’s accumulation of things is outpacing consumer’s capacity to keep items in their homes, as the growth of mini-warehouses also attests.

“In South Florida, newly constructed condominiums and rental apartments are at the core of the real estate rebound,” said Stephen Garchik, a well-known financer who has developed more than 35 urban infill self-storage facilities in Florida, Washington, DC and New York over the past 20 years. “With more people choosing to live in apartments and condominiums, the need for self-storage will continue to increase.”

MCSS Self Storage LLC is a joint venture between real estate industry veterans Jay Massirman, Stephen Garchik, Steve McBride and Consultant David Blum to develop and asset manage urban infill self-storage facilities within densely populated locations in South Florida. MCSS sources unique development sites through its robust business network, and applies its expertise in land use and development to create premier storage environments. They are actively pursuing new development opportunities. For more information, visit www.mcssdev.com.