ST. JOHNS, FLORIDA – September 2025 – Lockhart Management Group (LMG) and Top Hat Commercial Real Estate (THCRE) are proud to announce the successful sale of a newly delivered, Class-A, institutional-quality self-storage facility located at 150 Pine Chase Way in St. Johns, Florida. The facility was acquired by HPI Real Estate Services & Investments and will be managed by Extra Space Storage, reinforcing a growing partnership and continuing the placement of premier assets with top-tier operators. Brian Fulton of Top Hat Commercial Real Estate served as the exclusive broker on the deal.
Located in one of North Florida’s most desirable and rapidly growing submarkets, the three-story facility is surrounded by master planned communities, strong demographics, and high demand for climate-controlled storage.
Property Highlights:
- 110,401 GSF | 81,578 NRSF
- 832 Units | 3 Stories
- 100% Climate-Controlled
James Lockhart, Owner of Lockhart Management Group, commented:
“We’re not just building storage—we’re building long-term value through strategic partnerships. HPI has been an exceptional operator to work with, and we’re proud to continue placing high-quality assets in their capable hands. This facility is a strong match for the St. Johns market and a reflection of the consistency we aim to deliver across Florida. We’re proud of the result—and even more proud of the people behind it, especially our team at Lockhart Management Group, 116 Construction, and Top Hat Commercial Real Estate who brought it to life.”
This transaction underscores the ongoing momentum of LMG and THCRE across Florida’s top-performing self-storage markets. With multiple recent deliveries and more underway, the team continues to execute on its long-term vision: building institutional-grade storage facilities in high-barrier, high-demand locations that offer lasting value.
###
More about Lockhart Management Group:
Lockhart Management Group (LMG) is a self-storage and multifamily development and acquisition company that builds sustainable, high-quality properties through strict market underwriting and multiple levels of due diligence. Led by James Lockhart, LMG has developed or co-developed 25+ properties to date and uses advanced in-house development and site selection technology to ensure efficiency, quality, and execution. The company is committed to creating superb risk-adjusted financial returns through its sustainable developments. LMG is also the owner and manager of 116 Construction, LLC, a licensed Florida General Contractor, enabling the storage development team to now build all deals in-house. For more information, visit: lmgventures.com
More about Top Hat Commercial Real Estate:
Top Hat Commercial Real Estate (THCRE) is a boutique brokerage and development consulting firm headquartered in Tampa, Florida. Licensed in the state of Florida with a team of experts in site feasibility, property development, valuation, cash flow modeling, research, sales, and marketing, THCRE is equipped to handle all aspects of self-storage and multifamily developments. Whether you’re looking to develop a new project or expand your current portfolio, THCRE has the expertise and resources to help you achieve your goals. For more information visit: tophatcre.com