The real estate market in Miami-Dade continues to rise due to the recent movements that have occurred in recent days, such as the one made by a trust company when acquiring a self-storage unit.
The Life Storage company acquired two buildings, in the area of at 201 Northwest 37th Avenue and 6850 Southwest 81st Terrace, reported reporters from the real estate source in Real State.
It was known that the sale was made by entities related to the Kirchhoff companies, as indicated in the documents presented to the media.
Trust company made the transaction in two parts
The specialists indicated Life Storage carried out the transaction for the purchase of the buildings, in two parts.
For the first, he paid $ 22.5 million for the eight-story, 142,207-square-foot building on 37th Avenue.
.@LifeStorage bought two Miami facilities from real estate firm Kirchhoff, @LidiaDinkova reports https://t.co/GRrWFz1epu pic.twitter.com/1lEG6112KO
— TRD South Florida (@trdmiami) November 1, 2021
Meanwhile, for the second, the company canceled almost $ 21 million for the four-story, 104,061-square-foot building.
Today the self – storage market is a relatively stable type of property driven by demand throughout the economic fluctuations that have occurred in the city in recent months.
Company has more than 1000 self-storage properties
The Life Storage company has a wide portfolio of properties, which could reach 1,000.
All properties totaling more than 67 million square feet in 34 states, according to its website.
Other companies that make life in Miami have also entered the self-storage market in “La Ciudad del Sol”.
One of them is Extra Space Storage bought an industrial building in Margate and an adjoining parking lot for $ 22.1 million in October.
The companies calculate that there will be growth in this area by the end of 2021, which could reach 40%. In addition, it is expected that by 2022 the figure can double, due to the great demand that could be generated especially in the last quarter.
