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Two developers racing to build new self-storage facilities near Reunion

Two developers racing to build new self-storage facilities near Reunion
Two developers are racing to build new Class A self-storage facilities across from each other on C.R. 532 next to Reunion. (Osceola County)

The Four Corners market is about to get its own version of "Storage Wars" as two developers race to break ground on self-storage facilities across from each other on C.R. 532 next to Reunion.

Orlando-based K4 Investments president Tony Kostantinidis met Wednesday with Osceola County's Development Review Committee to discuss his 32-acre assemblage on the south side of Osceola Polk Line Road.

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He's looking to do a mixed-use development with a combination of office uses and possibly an assisted living facility, but the first phase would be a three-story, 100,000-square-foot Class A self storage facility.

K4 successfully changed the future land use to allow for mixed-use development, and the firm will seek an amendment to the exisiting Planned Development to raise height restrictions to 50 feet.

"The earliest we could break ground would be the early fourth quarter," Kostantinidis told GrowthSpotter. "We're looking to submit drawings by the end of the month."

Meanwhile, New York-based Island Estate Group has 14 acres across the street under contract with plans to build one of the market's largest Class A self storage facilities, with nearly 2,000 units totaling more than 150,000 rentable square feet.

Partners Shawn Kruk and Kevin Rossi filed a Site Development Plan last week for the project, which would include a mix of one-story drive-up units and two-story climate-controlled locker units. The complex would also include RV/boat storage internal to the facility.

K4 paid a total of $760,000 for its two parcels, and Kostantinidis said he offered to sell his self-storage site to Kruk and Rossi. They weren't interested.

"All my guys are telling me we should go ahead and build our three-story, climate-controlled facility," he said. "So we're moving forward full speed ahead, and there's probably a race to the finish with these guys across the street to see who can open first."

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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