Joint Venture to Open 860-Unit Self-Storage Facility in Stuart, Florida
STUART, FLA. — A joint venture partnership between Lumpkin Development, MacArthur Holdings and Live Oak Capital Partners plans to open a 110,000-square-foot self-storage facility located at 700 SW Federal Highway in Stuart. The 860-unit property will be close to downtown Stuart and the city’s surrounding neighborhoods.
CubeSmart Self Storage will manage the four-story, climate-controlled property. DC Construction is building the facility, and Iberia Bank provided the debt financing for the project.
MacArthur Holdings is a real estate business based in New York City, Lumpkin Development develops and operates self-storage, retail and industrial real estate throughout the Southeast and Live Oak Capital Partners is a developer and real estate investment firm based in Atlanta.