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Business Observer Thursday, Jun. 16, 2022 2 weeks ago

Ave Maria storage complex sold to California developer

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The 3-year-old facility, built by local developers, sold for nearly $14 million.
by: Louis Llovio Commercial Real Estate Editor

A CubeSmart storage facility in Ave Maria, the master-planned community in Collier County, has sold for $13.6 million.

The 51,000-square-foot facility was sold to William Warren Properties, a California-based real estate firm specializing in storage properties. The company already operates 32 such properties under different brand names in the state, including several in Tampa, Sarasota, Bradenton, Cape Coral, Tarpon Springs and Venice.

The property, made up of two one-story buildings at 5320 Useppa Drive, was developed by Seagate Development and Barron Collier Cos., which partners with Ave Maria Development, about three years ago.

Naples-based Barron Collier and Fort Myers-based Seagate have joined forces more than once in the past, including buying a 175-acre tract in Lee County for $6 million January 2021. Seagate and Barron Collier also partnered on the 10-acre Hill Tide Estates residences on Boca Grande and the Eastlinks Business Park in Fort Myers.

Seagate announced last year that it had sold two other CubeSmart storage properties — Fort Myers and Estero — to Public Storage.

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