Lakewood Ranch Self Storage
Investor Update: 6/12/18
We apologize for the delay in this latest update following our April 24th report. While we had planned on construction being completed the first week of June as noted in our last report, and inspections to be completed around June 15, we experienced a couple of weeks delay due to the constant rain and final delivery issues. Completion and opening, however, are nearing and we are pushing hard to make sure both take place this month. We too want this facility opened and performing.
- ExtraSpace has listed the facility on their website for a late June opening date.
- Click Here to view the ExtraSpace page for Lakewood Ranch.
- Despite the delays we've experienced, vertical construction budgets are still on target. A revised completion schedule has been generated and shows completion and Certificate of Occupancy (CO) for the facility in the last week of June. County inspections are taking place as work is completed to continue to work toward a CO date of June 22nd.
- With the later opening, we are working on a revised proforma with ExtraSpace. Based on their experience and market studies for the area ExtraSpace is projecting a faster lease up rate than originally anticipated so it's believed that the proforma will be minimally affected by the delayed opening. We will share the revised proforma once it's completed.
- With the facility opening being our primary concern, formal investor tours will take place after the facility is opened. However, if you are planning to be in the area and would like to tour the facility prior to opening, please contact Peter Gardner and he will be happy to meet you at the location.
- Your investor database is going through final testing with IMS (Investor Management Services). The email communication portal is now complete so we are just uploading all current investments to the database.
- Progress photos are posted below. Dated 6/12/18
- Updates will now be provided weekly until the opening.
Thank you for your patience during the final stages of completion.
If you have any questions, please don't hesitate to contact: Peter Gardner (407) 679-1748 ext. 114 / email
LOCATION: 10810 Internet Place, Lakewood Ranch, FL 34211