Knickpoint Ventures is developing 36th Street Storage, a self-storage project consisting of 1,160 storage units or 98,488 rentable square feet located in Miami.
Knickpoint acquired the 1-acre site for $4.6 million in 2022 and concluded the planning and entitlement efforts in 2023. The land was a used car lot before Knickpoint purchased it.
Knickpoint engaged the Aztec Group to source construction financing for the project. The Aztec Group arranged $18.3 million in construction financing for the deal. The financing opportunity of 36th Street Storage was awarded to Bank Hapoalim.
36th Street Storage is slated to be a state-of-the-art, fully climate-controlled facility featuring on-site management, 24/7 surveillance, keypad entry, and gated loading and parking areas.
Knickpoint Ventures’ has 15 self-storage properties in New York and Miami. It also invests in apartments, retail and office.