Viera Self Storage
Investor Update: 6/12/18
We hope everyone is doing well. While we experienced a couple of weeks delay due to the constant rain and final delivery issues, we are nearing completion with an expected opening date the week of July 23rd, approximately 1 month after our Lakewood Ranch Self Storage project. Lakewood Ranch started 1 month before our Viera project.
The excessive rain that Florida received over the last month presented challenges on exterior items but they are now being addressed quickly as normal Florida weather returned. Hence, please note that the blue seen on the exterior of the buildings in the progress photos below is only a bottom coating and not the final colors.
- ExtraSpace will listed the facility on their website for a late July opening date.
- Click Here to view the ExtraSpace page for Viera.
- 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 late July.
- Residential and commercial construction surrounding the facility continues to be very strong.
- 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.
If you have any questions, please don't hesitate to contact: Peter Gardner (407) 679-1748 ext. 114 / email
LOCATION: N. Wickham Road & Pineda Blvd, Viera, FL