Vision & Mission
Blackrock Construction & Development, LLC is a Florida-based real estate development
company with a focused mission: to develop high-performing, professionally managed self
storage facilities throughout Florida and the Southeastern United States. Our goal is to
identify high-growth markets, secure strategically located sites, and deliver modern,
institutional-grade storage assets that generate stable returns and long-term value.
Why Self Storage?
Self storage is one of the most resilient and recession-resistant real estate asset classes. In
contrast to more volatile sectors like retail or office, self storage consistently performs
across economic cycles due to its adaptability, low operating costs, and strong demand
fundamentals.
Key Advantages of Self Storage:
- Recession Resilience: During economic downturns, individuals downsize or relocate,
driving storage demand. During expansions, consumerism and household formation
increase—again supporting storage needs. - High Operating Margins: Minimal staffing, low maintenance, and simple utility
requirements contribute to superior net operating income (NOI). - Fragmented Market: Nearly 70% of self storage facilities are still owned by mom-and-pop
operators, leaving strong opportunities for consolidation, modernization, and value-add
strategies. - Scalable and Flexible: Facilities can be built, expanded, or reconfigured based on demand,
allowing for agile asset management. - Technology Integration: Modern systems (keyless access, mobile reservations, automated
payments) make self storage facilities efficient to manage and attractive to today’s
customers.
Strategic Focus
Blackrock’s development strategy is centered around the following pillars:
- Site Selection: We target underserved markets with favorable demographics, strong traffic
visibility, and high absorption rates. - Entitlement Expertise: Our in-house team navigates local zoning and permitting challenges
to deliver entitled sites with speed and certainty. - Design & Construction: Leveraging deep engineering and construction experience, we
build durable, attractive, and cost-efficient storage facilities that appeal to both institutional
investors and local users. - Exit Optionality: Each development is positioned for maximum flexibility—whether to be
held as a long-term cash-flowing asset or sold to REITs or aggregators seeking quality
inventory.
Market Footprint
Blackrock is currently evaluating and acquiring sites in:
- Florida (primary markets: Tampa Bay, Orlando, Miami, Jacksonville)
- Georgia (Atlanta MSA and growing suburbs)
- North and South Carolina
- Texas (select metros with self storage supply gaps)
Leadership
Blackrock Construction & Development is led by Carmelo Giglio, PE, SI, a seasoned
structural engineer and builder with over 26 years of experience in Florida’s construction
and inspection sectors. His technical background and practical expertise provide
unmatched value in navigating entitlement, managing construction risk, and ensuring every
project is structurally sound and financially successful.
Investor Value Proposition
For investors, Blackrock offers:
- Strong projected IRRs driven by disciplined underwriting and low basis cost
- Equity structures aligned for growth and value creation
- De-risked execution through internal technical capabilities
- Access to an asset class with proven demand and institutional appetite
Assumptions for a Typical Project:
- Gross Square Feet: 60,000 SF
- Net Rentable SF: 55,805 SF
- Climate Control: 47%
- Traditional Units: 53%
- Blended Rental Rates: $16.32/SF
- Development Cost: $5.025 million
Financing Terms:
- Cash Investment: 33%
- Interest Rate: 7.5%
- Amortization: 25 years
- Balloon Term: 10 years
Return on Investment:
- Internal Rate of Return (5-Year Unlevered): 22%
- Internal Rate of Return (5-Year Levered): 37%
Contact
Ready to find out more?
Email or Call us.