TAMPA, Fla. — Today, Franklin Street announced it successfully brokered the sale of the Class A, institutional-size Lake Wales CO Self-Storage, located in Lake Wales, Fla., on behalf of Coastal ICF Construction Services INC. The facility was purchased by Platinum Storage Group. Lake Wales Storage is located in the Lakeland-Winter Haven MSA, one of the fastest growing metro areas in the country according to the Census Bureau.
“We find opportunities for enduring value for our clients across the country, and this facility is promising because of its location and the malleability this investment possesses,” David Perlleshi, senior director, self-storage investment sales for Franklin Street, said. “The low saturation rate in the area, combined with projected population growth of 9.1% over the next five years, makes this a strategic investment for Platinum Storage Group.”
Frank DeSalvo, senior director, self-storage investment sales for Franklin Street, also represented the seller. The facility has more than 61,000 square feet of both climate-controlled and non-climate units and there is only one competitor facility within three miles.
“We recently had the pleasure of working with David and Frank at Franklin Street on the successful purchase of the Lake Wales CO Self Storage facility,” Daniel “Skip” Elefante, chairman and chief executive officer for Platinum Storage Group, said. “Their professionalism and dedication were evident throughout the year-long contract process as they skillfully managed expectations on both sides, fostering open communication and ensuring a mutually beneficial outcome. We appreciate their expertise and look forward to working with them again on future acquisitions.”
The facility, built in 2024, was delivered at certificate of occupancy and is located approximately 50 miles east of Tampa, Fla. along Chalet Suzanne Road, which serves as a connector between US-27 and FL-17.
About Franklin Street
Founded in 2006 during one of the toughest real estate climates, Franklin Street is focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management, and Project Management. With $10 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Florida, the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide
