Alan C Hooper & Tim Petrillo Of Urban Street Development Secure $20M Loan For Fort Lauderdale Project

This transaction involves a development site located at 201 Southwest 14th Street in Fort Lauderdale, FL. The property spans 1.8 acres and is designated for the construction of a self-storage facility totaling 138,000 square feet. Urban Street Development purchased the site for $5.96 million and has secured a $20 million construction loan from Pinnacle Bank to commence development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $20,000,000
• Asset Size: 138,000 square feet
• Address: 201 Southwest 14th Street
• Market: Fort Lauderdale, FL
• Lender: Pinnacle Bank
• Landlord: Alan C Hooper & Tim Petrillo - Urban Street Development

The key individuals involved in this transaction include Alan C Hooper and Tim Petrillo, who represent Urban Street Development in the deal. The project is part of a larger trend in South Florida, where self-storage construction is expected to reach a total of 2.1 million square feet in 2026.