February 28, 2017 -GreenSpace Holdings announced today that they have closed on project finance for their 2nd facility located on Brittmoore Road in Houston, Texas. The purchase of this prime piece of real estate displays GSH's commitment to building their facilities in the strongest submarkets. The proposed 192,000 sf facility will have over 1,400 storage units for rental ranging in size from 25 sf to over 300 sf. GSH also announced that the design/build contractor,TMS Contractors, LLC, who is building GSH's first facility in Pearland, would be the general contractor for this facility as well.
"TMS has been instrumental in getting both of our projects to construction. Stefan Knieling and David Cannaliato have really demonstrated their willingness to work with entreprenuers and have dedicated hundreds of hours vetting our designs and inventions for constructability. They really liked what we were doing and have been "all-in" since inception", said GreenSpace Holdings CEO, Rick Stockton. He added, "I never would have thought we would have such synergy with not only their executive management team, but with their owners as well."
"We also met several months ago with Dean Jernigan, CEO ofJernigan Capital, and he really embraced what we were trying to bring to the industry as well", said Stockton. "The entire JCAP team has been nothing but supportive. Their attitude and approach inspires developers like us to really strive to make projects the best they can possibly be. I hope we are doing deals with JCAP for years to come", he added.
Like the Pearland facility, the Brittmoore Road facility will be managed and branded byCubeSmart, headquartered in Malverne, PA.
Jernigan Capital underwrites GreenSpace's 2nd Houston facility on Brittmoore Road