Ramser Development Secures Two Outdoor Industrial Storage Tenants at Florida Marquee Facility
ALTAMONTE SPRINGS, Fla. (April 19, 2023) – Ramser Development Company, a multi-generational, vertically integrated developer and operator of recreational vehicle (RV) and boat storage, self-storage and industrial outdoor storage facilities, has secured two new high-quality tenants at RV Storage Depot, Altamonte Springs, a premier 55-acre recreational vehicle (RV) and boat storage facility north of Orlando. A recently improved 3.75-acre portion of the property has been secured and occupied by an undisclosed Fortune 500 company, and Jingoli Power, a professional service provider for complex gas and electric utility construction projects, is set to take occupancy of a 19-acre segment this month. Lease terms for both tenants are not disclosed.
RV Storage Depot, Altamonte Springs, formerly known as Adult Toy Storage, is the largest RV and boat storage facility in the U.S. with 1,800 total rentable spaces, consisting of a mix of indoor parking spaces, outdoor parking spaces and self-storage units. Ramser Development recently completed development on a 14-acre section of the property that resulted in additional RV and boat storage spaces as well as individual yards for industrial outdoor tenants. All 55 acres of the property are now improved and fully operational, and being managed by RVSD Management, an affiliate of Ramser Development Company.
“Ramser Development Company is pleased to welcome its first industrial outdoor storage tenants to RV Storage Depot, Altamonte Springs,” said Scott Ramser, founder and chief executive officer of Ramser Development Company. “The lease transactions represent an important step in stabilizing this best-in-class storage asset as our team finalizes the completion of its onsite improvements. Altamonte Springs has emerged as a desirable industrial outdoor storage location, and our team looks forward to building on its partnership with Jingoli as we continue to provide solutions for its business operations.”
Jingoli Power is a well-known utility contractor retained by Duke Energy, one of the largest energy holding companies in the U.S., to replace aging wooden power poles in Seminole County. Jingoli will utilize its 19-acre space at RV Storage Depot as a staging area to store equipment and trucks for five years while it completes its project with Duke Energy. The area is secured with walls, fencing and security cameras. It also includes hookups for an onsite office trailer.
The tenant on the 3.75-acre area is utilizing 310 parking spaces on part of the newly developed 14-acre property, which is designed for efficient outdoor industrial storage use.
RV Storage Depot, Altamonte Springs is located at 601 Hillview Drive. The property is proximate to the I‐4 Maitland Interchange, the Florida Turnpike, Highway 434 and Highway 436, providing convenient access to Orlando, other major Florida cities and countless RV parks, campsites, lakes and other outdoor activities.
Altamonte Springs is a rapidly growing city and has become an increasingly attractive destination for outdoor storage investment supported by its proximity to Orlando and regional employment growth.
“Ramser Development remains focused on growing its portfolio of core RV and boat storage, self-storage and industrial outdoor storage assets in 2023. The lease up of the combined 22.75 acres to two industrial users at RV Storage Depot, Altamonte Springs, is a key event in the execution of our strategy in Florida,” said Adam Deermount, chief investment officer at Ramser Development Company. “We are excited to be the location of choice for these businesses and Ramser Development is committed to providing a secure and convenient facility with excellent service, as we grow our portfolio and operations in the Orlando region.”
Monica Wonus and David Murphy of CBRE represented Ramser Development in the lease transaction. Jingoli was represented by Steve McGeorge with IRG Commercial.
Ramser Development acquired RV Storage Depot, Altamonte Springs in partnership with RanchHarbor and Saunders Property Company in 2021.
Ramser Development’s established portfolio includes over 2.7 million rentable square feet of RV and boat storage and industrial outdoor storage, and over 6,200 indoor and outdoor storage spaces. The firm is aggressively pursuing new enclosed, indoor valet, covered and outdoor RV and boat storage investment opportunities in select locations throughout Florida and the Sunbelt region of the U.S., in addition to select Mountain West and Pacific Northwest markets.
Among other assets, Ramser Development’s portfolio includes a 1,200-space facility in Irvine, Calif., at Orange County’s Great Park. The project opened in April 2022 and has been leasing at an impressive rate of 76 move-ins per month. Currently at 50% occupancy, Ramser Development anticipates the asset to stabilize in 2023.
ABOUT RAMSER DEVELOPMENT COMPANY
Ramser Development Company is a multi-generational, vertically integrated developer and operator of RV and Boat Storage, self-storage and industrial outdoor storage facilities. The Newport Beach, Calif.-based firm was founded in 1986 as an industrial real estate development firm by Scott Ramser and his grandfather Harold. Today, Ramser Development focuses on acquiring value-add assets and developing facilities in select high-growth markets within the Sunbelt, Mountain West and Pacific Northwest regions of the U.S. Since inception, Ramser Development has acquired, developed or entitled more than 10 million square feet of industrial or self-storage real estate. The firm capitalizes its properties on a deal-by-deal basis and is looking to deploy $100 million over the next 12 months. For more information, visit ramserdevco.com . Follow the company on LinkedIn.
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