Have too much stuff? $7.5 million storage facility opening in Lantana


Space in South Florida is coveted — that includes roads, real estate and yes, storage facilities.

Mini-storage quietly has evolved from the investment-property family into a legitimate money-maker that’s luring public cash and institutional investors — so much so that overbuilding has become a pressing concern.

Enter CubeSmart Self Storage, which is opening a $7.5 million, 89,000-square-foot storage unit on Thursday, Sept. 20 at 420 N. 4th Street in Lantana that will eventually have up to 750 spaces.

READ: Respect to veterans: Teen creates a coin for every grave site

“Right now, new construction has less and less closet space,” said Bennie Carmona, the site’s general manager. “It’s a much smaller places to put your stuff and we don’t have any basements.”

CubeSmart opened the site about two months ago and has about 120 customers.

Space sizes range from 4-by-5 feet, which is like a small walk-in closet, to 10-by-25 feet. Cost for the smallest size is $68 a month and $363 for the largest size.

“Right now I have no big spaces available,” Carmona said. “In the storage industry, the bigger the size, the faster they rent. It’s always been like that.”

SEE ALSO: Have talent? Show it off in Lake Worth this weekend!

Carmona has been with CubeSmart for five years and in the storage industry for 18. He said in Florida there are too many people in a transition period in their lives.

“They could be moving,” he said. “We have snowbirds and the condos makes our rentals a little bit slower, but that’s where we take advantage and promote the properties.”

According to the 2018 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States. The industry in the United States consists of approximately 44,000 properties with 2.3 billion rentable square feet, of which the top 10 operators collectively own approximately a 23% market share.

CubeSmart has up to 45 properties in Palm Beach County, Carmona said. Three years ago the company spent $7.3 million on a mini-warehouse in Lake Worth at 1900 6th Avenue South.

The company has dropped at least $67 million on a dozen properties in the county since late 2012.

The site took about 10 months to build and has about 462 units, Carmona said. The additional spaces come once the third floor is complete, he added.

“It’s easy access and it’s pretty convenient to Palm Beach,” said Carmona. “It has the latest security system and we have over 38 cameras, which can be turned into 64.”

Follow Lake Worth reporter Kevin D. Thompson on Twitter at @kevindthompson1

Get Lake Worth news on our Lake Worth News Facebook page



Reader Comments ...


Next Up in Local

NEW: One struck, injured by car near Lake Worth High School
NEW: One struck, injured by car near Lake Worth High School

One person was flown to a hospital with serious injuries Tuesday afternoon after being struck by a vehicle in front of Lake Worth High School, Palm Beach County Fire Rescue said.  The crash happened at about 3 p.m. near Holiday Drive and Lake Worth Road. Paramedics arriving on the scene found an injured male in the roadway, said Capt. Albert Borroto...
LATEST: Riviera man faces attempted murder charges in two Sunday shootings
LATEST: Riviera man faces attempted murder charges in two Sunday shootings

A Riviera Beach man has been arrested in connection with two shootings Sunday a few miles apart that left three people hurt, according to authorities. Tyrone Johnson, 42, was taken into custody Tuesday by the U.S. Marshals Service and is expected to face three counts of attempted first-degree murder. Details of where and when Johnson’s arrest...
Here’s who’s in the running to buy Gardens property valued at $1.74M
Here’s who’s in the running to buy Gardens property valued at $1.74M

Three buyers are vying to take over six acres of city-owned property where the city once considered a rec center. RELATED: When will Congress Avenue extension open to relieve Northlake traffic? They are South African tennis pro Johan Kriek, Seacoast Utility Authority and the developer of commercial property to the south. RELATED: Why Gardens aims to...
BREAKING: One wounded in Riviera Beach shooting
BREAKING: One wounded in Riviera Beach shooting

One woman was wounded in a shooting Tuesday afternoon in Riviera Beach, city police said.  The shooting occurred shortly after 4 p.m. in the 800 block of West Seventh Street, off Dr. Martin Luther King Jr. Boulevard west of President Barack Obama Highway. Police found a man in his 30s with a gunshot wound. The man was taken to a hospital...
More Stories