The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Jacksonville MSA CubeSmart-Managed Facility in Saint Johns, Florida. Strategically situated in the Jacksonville Metropolitan Statistical Area, the subject offers exceptional upside with strong demographics in an area poised for excellent growth. An investor has the unique opportunity to acquire a Class A, professionally-managed facility with state-of-the-art amenities indicating its new construction. There’s opportunity for incredible growth potential through the continuation of lease-up activity at this facility, which showcases the best of the market. The subject currently offers tenant insurance and moving supplies for additional revenue; an investor can further benefit from the implementation of a truck rental program. The five-year population growth is projected to flourish at a high rate of 4.05 percent annually from 2018 to 2023. The area’s robust growth rate signifies the strong demand for self-storage within the region. Furthermore, the subject offers convenient access to and from Interstate 95 and is encompassed in an active residential corridor with a multitude of resources and points of interest. There is a household income of over $120,000 within three miles of the property, far surpassing the national average.
The subject property resides on 2.38 acres and is comprised of 55,435 rentable square feet. The facility currently offers 476 fully-climate-controlled units in a newly-constructed, multistory building with convenient elevator access to its upper-level units. There are physical and economic occupancies of 83.1 and 71.2 percent as the facility continues its lease-up phase. To ensure security for the premises, the property is equipped with keypad entry, premium video surveillance and optimal lighting.
Situated directly along Old County Road 210, this roadway witnesses a traffic count of over 25,000 vehicles per day. The subject is within a mile of Interstate 95, a major thoroughfare which has a traffic count in excess of 84,000 vehicles per day. Additionally, the subject is approximately four miles from U.S. Highway 1, which sustains a traffic count of over 19,000 vehicles per day. These heavily traveled roadways offer convenient access to both Jacksonville and St. Augustine. residential and retail corridor in Saint Johns, Florida. St. Johns County is a key component of the Jacksonville Metropolitan Area. The region consistently attracts new residents with its highly-coveted resources and close proximity to the Atlantic Coast of Florida. St. Johns County offers the highest-rated educational system and the lowest overall tax structure in the state.
The Mele Group of Marcus & Millichap is pleased to exclusively list for sale ABC Self-Store-It, located in Dodge City, Kansas. Situated within the heart of Dodge City, the acquisition offers a qualified investor the opportunity to obtain two of the area’s primary self-storage facilities with strong upside and forward-looking financials. To further enhance revenue, an investor can raise rates to match the overall market average along with implementing a tenant insurance program and a self-service kiosk to reduce management costs. The acquisition also benefits an investor with solid financial projections, including substantial years one and two cash-on-cash returns of 8.5 percent and 17.5 percent, respectively, a proforma capitalization rate of 10.41 percent and years five and seven leveraged IRRs of 30.0 percent and 27.8 percent. Additionally, an investor can further increase the facilities’ online presence and subsequent occupancy by creating and implementing a website for an optimized online footprint.
Among 29,600 rentable square feet on 2.29 acres, the opportunity is comprised of 252 units, ranging from 50 square feet to 780 square feet. Of the facilities’ units, there are 217 non-climate controlled units and 35 boat/RV storage units. Consisting of two well-maintained sites are secured by perimeter-wide fencing and gated access. Combined, the opportunity’s physical occupancy is 87.2 percent and the economic occupancy is 72.4 percent.
The two facilities are strategically situated in close proximity to one another at 2401 East Wyatt Earp Boulevard and 901 Rath Avenue, allowing for efficient management through their close distances at approximately 2.7 miles. East Wyatt Earp Boulevard is a primary thoroughfare of Dodge City, connecting to U.S. Highway 50 and U.S. Highway 400, and also serves as the main roadway to access the city’s residential corridors.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Jensen Beach Storage. An investor has the unique opportunity to acquire a stabilized asset with significant upside in Jensen Beach, Florida; a rapidly-growing community on Florida’s Treasure Coast. The property offers multiple value-add components and solid, forward-looking financials, including cash-on-cash returns of 11.8 percent and 13.2 percent in years one and two. Additionally, an investor can enhance the facility through implementing revenue management software and stronger signage, installing secured gating and upgrading interior units to traditional storage units. With its high occupancies, Jensen Beach Storage has room to grow its revenue through converting commercial office space currently leased into self-storage units, this is paired with a strategic naming convention yielding an advantageous digital marketing platform with regards to search engine optimization.
Consisting of 22,359 net rentable square feet on 1.60 acres of land, Jensen Beach Storage offers 127 non-climate-controlled units, 26 commercial office spaces and 185 climate-controlled units for a total of 338 units. The facility has excellent physical and economic occupancies of 93.6 and 83.8 percent, respectively. The facility’s strong occupancies are indicative of the need for self-storage within the region, which can be further capitalized on through the conversion of office spaces into self-storage units. The property offers video surveillance to ensure secure self-storage.
Jensen Beach is a component of the St. Lucie, Florida Metropolitan Statistical Area and a popular destination along the Treasure Coast of Florida. The Treasure Coast is well-renowned for its unrivaled oceanside views and year-round tropical climate, which consistently attracts new residents into the area. Florida surpassed New York in 2015 as the third most populous state in the nation and has continued to maintain this rank.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Hoover Highway I-80 Storage. An investor has the unique opportunity to acquire a self-storage asset with significant upside in Iowa City, Iowa; a rapidly-growing community and home to the University of Iowa. Hoover Highway I-80 Storage was initially constructed in 2008 and completed a second phase in 2014. The property offers solid, forward-looking financials, including cash-on-cash returns of 11.3 percent and 17.2 percent in years one and two and leveraged IRRs of 24.8 percent and 25.0 percent in years five and seven. Additionally, an investor can increase revenue through the implementation of a tenant insurance program. Hoover Highway I-80 Storage offers 24-hour access and utilizes an efficient self-service kiosk for consumer convenience. The facility has been well-maintained and offers a wide-variety of options to accommodate for the region’s demand for self-storage. Hoover Highway I-80 Storage is the premier option for consumers within the immediate vicinity; the nearest competitor is approximately 4.5 miles away.
Consisting of 51,390 net rentable square feet on 2.14 acres of land, Hoover Highway I-80 Storage offers 167 non-climate-controlled units and 177 climate-controlled units for a total of 344 units. The facility is currently completing its lease-up phase and has physical and economic occupancies of 70.4 and 65.2 percent, respectively. The subject’s occupancies have increased by approximately eight percent annually since 2015. The property offers keypad entry, perimeter-wide fencing, digital video surveillance and optimal lighting throughout the premises to ensure secure self-storage.
The subject offers convenient access to and from Interstate 80, which witnesses a traffic count of over 36,000 vehicles per day. The property is 2.5 miles from 1st Avenue, which sustains a traffic count in excess of 15,000 vehicles per day. Furthermore, North Dubuque Street is approximately 4.5 miles from the subject property and witnesses a traffic count of over 21,000 vehicles per day.
The Mele Group of Marcus & Millichap is pleased to offer the Highland Park Self-Storage Development Opportunity in the Chicago metropolitan area. The proposed development will benefit from its strategic position along a main thoroughfare and surrounded by an excellent five-mile demographic boasting substantial median and average household incomes of $130,783 and $201,405, respectively, indicative of Chicago’s affluent North Shore communities.
Located on approximately 2.17 acres, the proposed site is situated on a B3-zoned parcel, allowing for self-storage development upon approval by the city. Once constructed, a proposed 90,000 rentable square feet and 120,000 gross building area square feet are projected to house fully climate-controlled units. The location has direct frontage on U.S. Highway 41/Skokie Valley Road, which sees traffic counts of over 49,400 vehicles daily, and is 0.3 miles from State Highway 22, 1.8 miles from State Highway 43 and 3.0 miles from Interstate 94/Tri-State Tollway.
Skokie Valley Road serves as a primary retail destination for Highland Park, lined by nationally-recognized vendors and surrounded by single-family, residential communities. National retailers on Skokie Valley in proximity to the subject site include Target, Staples, CVS, Starbucks and Dunkin Donuts, among many others in a less than one-mile distance.
Highland Park is part of the North Shore suburb of the Chicago MSA. The City of Highland Park is known for its economically solid demographic, vibrant shopping district and concerts at the Ravinia Festival, which is the summer home to the renowned Chicago Symphony Orchestra. Chicago’s North Shore community is one of the nation’s most affluent and highly-educated areas with seven of its communities in the top quintile of U.S. household income, and Highland Park is in the top five percent.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Budget RV and Self Storage in Phoenix, Arizona. This acquisition offers an investor the opportunity to acquire a cash-flowing, self-storage asset situated in Maricopa County, the fastest-growing county in the United States. An investor will have the opportunity to increase revenue through the implementation of a robust tenant insurance program and truck rentals. The subject offers a variety of amenities, including wide-paved lanes for drive-up access, premium security and several self-storage options for consumer convenience, paired with an excellent location ensuring high visibility along Indian School Road. The facility is within close proximity to several heavily-traveled thoroughfares and is surrounded by a multitude of residential neighborhoods and national retailers. The surrounding residential area boasts a population count of over 500,000 individuals within five miles of the subject. Furthermore, there is a projected annual growth rate of 1.25 percent from 2018 to 2023, in addition to a 47.6 percent renter-occupied housing population within the immediate vicinity.
The subject consists of 105,823 net rentable square feet among 12 buildings on 8.25 acres. The facility has 46 climate-controlled units and 704 non-climate-controlled units, ranging from 25 square feet to 1,008 square feet, along with 187 parking spaces for a total of 937 total units. Budget RV and Self Storage offers concrete and steel units, in addition to perimeter-wide fencing, electronic video surveillance, computer-controlled gate access and optimal lighting to ensure secure self-storage. The physical and economic occupancies reside at 91.1 and 83.3 percent, respectively. The facility’s occupancies are indicative of the need for self-storage in this densely populated region.
The property is strategically situated on West Indian School Road and offers excellent visibility and frontage along this frequently-traveled roadway. West Indian School Road witnesses average daily traffic counts of over 38,000 vehicles per day. Interstate 17 is approximately 3.5 miles from Budget RV and Self Storage and boasts a robust traffic count of over 183,000 vehicles per day. U.S. Highway 60 is also 0.5 miles from the property and has a vehicle count of over 50,000 per day. The facility is approximately 0.5 miles from North 43rd Avenue, which witnesses a traffic count in excess of 37,000 vehicles per day. The Phoenix-Mesa-Scottsdale, Arizona Metropolitan Statistical Area consists of over 4,700,000 million individuals and makes up a majority of Arizona’s population.
The Mele Group Marcus & Millichap has been selected to exclusively market for sale ABQ Mini Storage in Albuquerque, New Mexico. ABQ Mini Storage signifies an excellent opportunity to acquire a self-storage facility in a high-traffic corridor of Albuquerque, New Mexico. The opportunity has significant upside to strengthen returns through offering multiple streams of revenue, including the implementation of a robust tenant insurance program and offering truck rentals. With demand for both items in this populous area, the facility also features an impeccable location near dozens of residential communities. Historically, occupancies boast high statistics much like the surrounding competitors; the facility has superb current physical and economic occupancies of 92.6 percent and 80.6 percent, respectively.
Consisting of 72,712 rentable square feet among seven buildings and 3.61 acres, the facility features 650 non-climate controlled units, ranging from 25 square feet to 450 square feet. The facility offers wide driveways for consumer convenience in loading and unloading items, in addition to being encompassed in multiple security features. To keep the premises secured, the property is fully fenced and lighted with video surveillance, computerized gated access, keypad entry and an on-site manager’s apartment. Since 2017, the facility has undergone renovations to individual units, and will continue with capital improvements this year including painting to ensure the most optimal appearance.
Located at 4715 McLeod Road Northeast, the facility is well-situated in an area boasting an impeccable mixture of residential communities and nationally-recognized retailers. The residential population has yielded a high amount of renter-occupied housing units in the one, three and five-mile vicinities, comprising approximately half of all housing; historically, renters utilize storage at a higher rate than home owners. The five-mile population is made up of 272,323 individuals among 119,626 total households. To cater to this high population are many shopping centers and single-tenant retailers, including giants Walmart Supercenter, Target and Dick’s Sporting Goods, among other retail tenants Cheesecake Factory, Panera and McDonald’s. The direct surroundings continue to thrive with its balance of activity for residents and ideal placement near Interstate 25, much like the subject property.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale RoboVault Self Storage in Fort Lauderdale, Florida. RoboVault Self Storage signifies an exceptionally rare investment opportunity to acquire a trophy self-storage asset in the high-barrier-to-entry South Florida market with substantial upside. Upon acquisition, the opportunity guarantees an investor an internationally-coveted facility recognized for its prestige, cutting-edge technology and array of amenities available compared to other facilities in the market. This premier facility has significant growth potential through numerous expansion opportunities and adjusting its marketing platform to cater to traditional storage, generating further interest from the surrounding communities.
Throughout the property, RoboVault Self Storage has capitalized on revolutionizing the self-storage experience through its user-friendly, automated systems. The facility is revered for its access systems with wall-mounted controls to facilitate recalling units through an automatic retrieval system, ensuring dust-free storage without human impact or the need to use elevators or extensive hallways. The recalling of units also leads to a car pick-up area for all vehicles stored at the facility, that are placed onto the automated dock with ease for driving off of the site. There are seven loading bays which units can be brought to, each having air conditioning and ensuring no weather obstacles for consumers. The building itself boasts multi-leveled surveillance, units located at least 30 feet above sea level and steel-reinforced concrete construction that is resistant to a Category 5 hurricane. Should the building witness a power failure, there’s an on-site generator to keep the system powered for 14 days. To add to the well-secured asset, the facility offers a tenant insurance program as a source of additional income.
Recently constructed in 2009, RoboVault Self Storage has 91,122 rentable square feet and 1,168 total units, comprised of climate-controlled storage, temperature and humidity-controlled wine storage, automobile storage, safe deposit boxes and a fine arts tenant. The facility consists of one, fully-climate controlled building with a spacious lobby, salesroom, safety deposit vault, showroom, conference room, back entrance and a lounge area to hold periodic events such as wine tastings for patrons. There are also multiple opportunities to convert vacant space and existing storage unit types into traditional storage to enhance leasing activity and bolster subsequent occupancies as a result. Among the opportunities are 11,000 square feet to build out climate-controlled storage and approximately 18,000 square feet of outside, drive-up space near the rear of the property.
The facility is at a keepsake location on Southeast 6th Avenue in Fort Lauderdale, Florida. This roadway merges into Eller Drive, seeing over 16,500 vehicles a day. With its six stories, the building has an unencumbered view from Interstate 595 and U.S. Highway 1, which reports over 81,000 and 65,000 vehicles a day, respectively. This facility is also just under two miles from Interstate 95 at an estimated 272,000 vehicles daily. Within a three-mile radius, the population boasts of 68,721 individuals and has been projected to boost a staggering growth rate of 1.14 percent between 2018 and 2023. There are also 32,355 households with an affluent average household income of $92,501, far surpassing the national average.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale the Annapolis Self-Storage Development in Annapolis, Maryland, a prosperous component of the Baltimore-Columbia-Towson Metropolitan Statistical Area and the Baltimore-Washington Combined Statistical Area. The development site will be delivered fully-entitled and permit-ready for an investor to construct a self-storage facility consisting of 106,839 gross square feet and 72,059 rentable square feet. The property will benefit from direct frontage and excellent exposure to Blue Star Memorial Highway (U.S. Highway 50), with an estimated daily traffic count of 80,000 vehicles passing the location. An investor has a prime opportunity to capitalize on a favorable market, as there are only two competitors within three miles that are supplying under four square feet per capita and achieving average rental rates of approximately $27 per square foot. There are multiple self-storage facilities approximately five miles southwest of the subject that are commanding lower rental rates.
An investor can profit from the region’s high demand for self storage, as there is currently a low number of facilities within the area. This opportunity is paired with a high annual population growth surpassing the national average; the projected yearly population growth from 2017 to 2022 in one, three and five-mile radiuses are 1.09 percent. 0.87 percent and .80 percent, respectively. The subject property is located in Annapolis’ suburb of Arnold, comprised of a wealthy enclave of large homes without basements. In addition, there is also a multitude of waterfront properties characterized by a high-income demographic with a median income of $109,707. These details are indicative of the self-storage demand in the market exceeding the national average. Furthermore, the plethora of surrounding waterfront communities further raises the demand for self storage as boats, jet skis and other sporting gear are commonly owned among peninsula residents near the opportunity.
As the flourishing state capitol of Maryland, Annapolis is situated approximately 30 miles east of Washington, D.C. and 25 miles south of Baltimore, Maryland. The city is home to the United States Naval Academy and St. Johns College, which is the third-oldest institution of higher learning in the United States. The region offers more than 40 parks and over 200 acres of park land, making Annapolis a desirable destination for nature enthusiasts.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Store More on Route 34, located in Plano, Illinois. Strategically situated along Route 34, Store More features exceptional upside with strong demographic and financial projections in an area poised for significant growth. Acquisition of the opportunity provides a qualified investor with a cash-flowing, self-storage asset featuring professional and a wide variety of amenities to meet the area’s needs for quality storage. This is paired with an attractive current capitalization rate of 6.09 percent and a proforma capitalization rate of 9.79 percent. Furthermore, the opportunity has projected leveraged IRRs of 27.0 percent and 25.6 percent in years five and seven, respectively, and a cash-on-cash return in year two of 14.4 percent. With a high physical occupancy and rental rates above the market’s average, the facility advantageously has a pad in place for future expansion and space available for additional buildings and parking as the surrounding vicinity’s population swells at a high rate.
Initially constructed in 2003 and expanded in 2017, the facility resides on 8.59 acres, comprised of 49,500 rentable square feet among nine buildings. The facility advantageously offers climate-controlled storage over the market’s competitors, with the property’s 395 total units consisting of 17 climate-controlled units, 97 boat/RV parking spaces and 280 drive-up units with wide aisles for convenient drive-up access. An investor can offer additional storage through expanding upon the pad presently constructed on the site, further justified through a current physical occupancy of 88.3 percent and an economic occupancy of 69.8 percent. The facility also benefits from additional streams of revenue through being a highly-reputed U-Haul Neighborhood Dealer with truck rentals, and from a tenant insurance program. To ensure security for the premises, the property is equipped with fencing, keypad access, superior lighting for secure 24/7 access, electronic gate entry and comprehensive video surveillance.
The facility is located at 3980 Turner Road, residing just south of U.S. Highway 34/Walter Payton Memorial Highway (Route 34) at a 0.1-mile distance and west of State Highway 47 at a 2.8-mile distance; these two thoroughfares witness traffic counts of over 17,000 and 20,000 vehicles daily. The facility is also the closest to a growing number of residential communities, including Lakewood Springs and Fox Hill and resulting in an overall five-mile population of 35,561 individuals among 12,319 households. The five-year population growth is projected to flourish at a high rate of 1.35 percent annually from 2018 to 2023.
The Mele Group of Marcus & Millichap is pleased to exclusively offer the Paterson Self-Storage Development in Paterson, New Jersey, a component of the New York-Newark-New Jersey City, NY-NJ-PA Metropolitan Statistical Area. The proposed self-storage development opportunity is located within the center of Paterson’s historical district and populous residential corridor. The site features numerous advantages that allow it to stand out as a premier self-storage facility and ideal investment asset, including an excellent housing profile, strong visibility from multiple highways and exceptional traffic counts. The heavily-populated residential zone that surrounds the facility is perpendicular to the East Side Historic District and the East Side Park, which is a prominent division consisting of several historic mansions. Upon completion, the Class A, four-story facility is projected to yield a gross building area of 124,000 square feet and 93,000 rentable square feet. Approval will yield a well-located self-storage parcel consisting of 1.75 acres with ample parking for consumer convenience. The facility will also exhibit large pylon signage which will illuminate the facility and enhance visibility from high-traffic areas. An investor will have the unique opportunity to construct a multistory facility upon this parcel that will exemplify the best of the market in terms of construction and architectural design.
Ideally situated at 318 McLean Boulevard in the heart of Paterson, the proposed site will feature preeminent self-storage in the city’s lively residential corridor. The site features excellent visibility and direct access to and from U.S. Highway 20, a heavily-frequented thoroughfare within the region, which maintains solid traffic counts of over 75,000 vehicles per day. The subject is situated within a mile from Interstate 80, which has a vehicle count of over 130,000 per day. Broadway Avenue is approximately two miles from the property, sustaining over 64,000 vehicles daily. The self-storage parcel will be perpendicular to a plan of proposed retail developments which will be subdivided into a separate tax lot. The concept plan will directly benefit the subject by drawing additional traffic into the immediate vicinity. Directly neighboring the proposed facility is a prominent community with an active retail district and several parks that maintain a historical charm, including the East Side Park, the East Side Park Historic District, and the Artesian Fields County Park. In addition to a flourishing residential corridor, the surrounding vicinity sustains a dense volume of nationally-recognized retailers and parks, drawing in consistent traffic on a daily basis. Among the numerous national retailers lining this thoroughfare is Lowe’s Home Improvement directly across from the property.
Paterson is a well-established community in the most densely-populated metropolitan region in the country, as the New York Metropolitan area consists of over 20 million individuals as of 2017. Paterson serves as the county seat of Passaic County, and is also the largest city in Passaic County with the second-highest density of any U.S. city with over 100,000 people, trailing only New York City. The county maintains high population counts while offering a quaint suburban lifestyle, as it is situated approximately 20 miles from New York City.
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The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Space Savers Self Storage in Saraland, Alabama. Saraland is a suburban component of Mobile, Alabama and is situated in the Mobile Metropolitan Statistical Area. Space Savers Self Storage offers an investor an excellent opportunity to acquire a cash-flowing storage asset with significant upside, representing the best that the market has to offer in terms of quality, size and amenities. The facility is adjacent to Industrial Parkway and is surrounded by a multitude of national retailers and residential corridors.
Consisting of 51,745 net rentable square feet on 3.21 acres of land, the facility maintains 438 climate-controlled units and 22 non-climate-controlled units, ranging from 25 square feet to 300 square feet. The facility also consists of eight portable storage units and ten outdoor parking spaces for a total of 478 units. The facility offers numerous amenities, including drive-up access, boat/RV storage, truck rental service, multiple elevators for convenient access to upper-level units and a wide array of self-storage options. Space Savers Self Storage is the premier facility within the area; the facility features physical and economic occupancies of 92.2 percent and 78.2 percent, respectively.The subject offers prime visibility from the Industrial Parkway and is adjacent to several residential developments. The high occupancies and rental rates indicate the top quality of this facility compared to competitors.
The facility is strategically situated at 700 Industrial Parkway, which witnesses a traffic count in excess of 12,000 vehicles daily. The Industrial Parkway is quickly becoming the new commercial strip in Saraland and serves as a crucial thoroughfare within the region. Interstate 65 is one mile from the property and sustains a traffic count of over 57,000 vehicles per day. The facility is also one mile from Saraland Boulevard, which witnesses a vehicle count of over 19,000 per day. Saraland, Alabama offers several high-quality amenities to accommodate the rapidly-growing residential community. The city is situated just 15 minutes from Mobile and offers a prestigious school system, ranking among the best in Alabama.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Fair-Way Self Storage, located in the Los Angeles Metro Area. Acquisition of Fair-Way Self Storage offers a qualified investor a value-add opportunity to gain a significant footprint in the affluent Walnut community, with substantial upside potential to optimize management operations, implement stronger signage for ideal visibility and to reallocate the facility’s business park components to traditional storage.
Residing on 6.43 acres at 921 Fairway Drive, the facility is comprised of 470 drive-up units and 156 interior floor-level units, ranging in size from 16 square feet to 480 square feet, and 67 boat/RV parking spaces for a total of 693 units. With excellent frontage along this thoroughfare, the facility would also have better visibility from State Highway 60/Pomona Freeway through prominent signage. The facility’s interior features an office and an on-site manager’s apartment with two bedrooms and one bathroom. Current facility physical and economic occupancies are 87.8 percent and 77.6 percent, respectively, indicating the need to expand by reallocating vacant retail space in the facility’s Walnut Business Park component into storage. The high-traffic business park is presently 85.4 occupied and features over 20 tenants and 34,070 GLA with all leases defaulting to month-to-month after the lease has been executed. To ensure security throughout the premises, the facility is equipped with perimeter-wide fencing, excellent lighting and 24-hour video security surveillance.
Fair-Way Self Storage is surrounded by a five-mile population of 285,699 and 81,346 households. This affluent community features an average household income of over $104,000, far exceeding the national average. Walnut is a component of Los Angeles County, the largest county in the nation, and also part of the Los Angeles-Long Beach-Anaheim Metropolitan Statistical Area, the 18th largest metro area in the world and the second-largest in the nation. For multiple years, the City of Walnut has been ranked in Money’s Best Places to Live for its low crime rate, high-quality, master-planned communities and its recognition as a top public school district in Southern California, while boasting a household income average at one of the top earning percentiles in the country.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Phoenix MSA Self-Storage Opportunity. The opportunity signifies an excellent acquisition of a newly-expanded self-storage facility in one of the nation’s fastest-growing areas. This opportunity has substantial upside to further strengthen returns through the continuation of lease-up activity at the expansion, completed in late 2017 and nearly doubling the size of the property to match the high population growth and demand for self storage. The facility offers multiple streams of revenue, including truck rentals and a tenant insurance sales program in place. Advantageously, the City of Tolleson has indicated its strict guidelines for constructing new self-storage facilities, making the barrier to entry difficult for new competition.
The well-maintained facility consists of 454 units. Constructed on 2.49 acres initially in 2009 then expanded upon in 2017, the facility's rentable square footage recently jumped from 26,876 rentable square feet to its current 50,450 rentable square feet. The facility's occupancies indicate the new lease-up phase; the current physical occupancy is 75.2 percent and the economic occupancy is 49.4 percent. Prior to beginning the expansion, the Class A subject consistently maintained high occupancies of 95 to 100 percent, showcasing the market's strength. To secure the premises, the site has gated entry, keypad access, video surveillance, night lighting, sprinklers and fire alarms. Furthermore, the facility is equipped with a self-service kiosk, reducing management costs.
Located at 9620 West Van Buren Street, the Phoenix MSA Self-Storage Opportunity is only 1.0 mile south of Interstate 10, which sees significant traffic counts of 223,942 vehicles per day, and is 1.5 miles south of Loop 101 with 165,096 vehicles daily. Papago Freeway, a part of Interstate 10, leads directly onto Loop 202/South Mountain Freeway, which is currently undergoing a major expansion project expected to be completed in 2019. The Loop 202 project is projected to yield approximately 100,000 vehicles per day and will include a major interchange nearby. Paired with the abundance of community amenities nearby is an immense five-mile population of 281,484 with 79,567 households. Tolleson is located in Maricopa County, recognized by the 2016 U.S. Census Bureau as emerging as the county with the nation’s highest annual population growth. Subsequently, Tolleson is also a component of the Greater Phoenix Metropolitan area, which comprises over two-thirds of Arizona’s total population.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Lakeland Space Center in Lakeland, Florida. An investor has the unique opportunity to acquire a stabilized asset with upside in a swelling community; Lakeland Space Center is the only self-storage option within 2.5 miles. The property can benefit from the implementation of a professional website to begin revenue management and establish an online marketing presence for digital consumers. The facility’s larger units can be subdivided in order to increase revenue and meet the region’s high-demand for storage. Additionally, an investor could increase tenancy by implementing stronger signage along U.S. Highway 92; the facility currently utilizes a one-sided billboard. The facility is surrounded by several residential developments and is within close proximity to Southeastern University, Florida Southern College and downtown Lakeland.
Consisting of 52,270 net rentable square feet on 5.15 acres of land, Lakeland Space Center offers 164 non-climate-controlled units, 44 parking spaces and eight office spaces for a total of 216 units. The facility has excellent physical and economic occupancies of 91.2 and 92.4 percent, respectively. The facility’s strong occupancies are indicative of the need for self-storage within the region. The property offers fencing, video surveillance and gated access with keypad entry to ensure secure self-storage.
The subject offers convenient ingress and egress to and from U.S. Highway 92 East in Lakeland, which witnesses a traffic count of over 31,000 vehicles per day. U.S. Highway 92 intersects Interstate 4, a major thoroughfare which connects the Tampa and Orlando Metropolitan Areas. There is a population of over 88,000 individuals within five miles of the facility, which is projected to surpass 92,507 by 2023. The projected population increase demonstrates the steady growth within the region.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Primos Self Storage in Clifton Heights, Pennsylvania. Primos Self Storage is situated in Clifton Heights, Pennsylvania, which is approximately eight miles from downtown Philadelphia. The facility is in a densely populated region; there are over 200,000 individuals with an average household income in excess of $80,000 within a three-mile radius. An investor has the unique opportunity to acquire a newly-constructed facility in a dense retail corridor encompassed by several housing developments. The facility was recently converted and built in the spring of 2017 and is currently in its lease-up phase. A qualified investor can add substantial value in any or all of the following ways; raising rates to match the market’s, adding parking revenue for 41 un-used spaces and implementing a truck rental program. A qualified buyer can capitalize on the subject’s superior construction and ideal location upon stabilization.
Consisting of 82,116 net rentable square feet on 5.41 acres, the facility maintains 128 standard and 590 climate-controlled units, ranging from 18 square feet to 250 square feet for a total of 718 units. The subject offers a wide variety of well-maintained storage options, premium security and on-site management for consumer convenience. The property is secured with surveillance cameras, fencing, electronic gating and optimal lighting throughout the premises. The subject boasts strong leveraged IRRs of 21.9 and 19.9 percent in years five and seven, in addition to a cash-on-cash return of 10.7 in year two. Currently, the facility sustains physical and economic occupancies of 49.2 and 43.3 percent as the lease-up phase continues.
The facility offers multiple entry points from Mildred Avenue and Providence Road. Providence Road has a traffic count of over 14,000 vehicles per day. North Oak Avenue intersects Providence Road and is 0.1 miles from the subject property. North Oak Avenue also sustains a traffic count in excess of 14,000 vehicles per day. The facility is encompassed by a thriving retail corridor and several dense residential zones, demonstrating the need for self-storage within the region. Clifton Heights is a suburban component of Philadelphia, Pennsylvania; the sixth-most populous city in the United States.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Budget Self Storage of Mesa, a principal city of the Phoenix-Mesa-Scottsdale, Arizona Metropolitan Statistical Area. Acquisition offers an investor the opportunity to acquire a cash-flowing self-storage asset situated in Maricopa County, the fastest-growing county in the United States. The subject offers a variety of amenities, including wide-paved lanes for drive-up access, premium security and several self-storage options for consumer convenience, paired with an excellent location ensuring high visibility along Southern Avenue. The facility is within close proximity to several heavily-traveled thoroughfares and is surrounded by a multitude of residential neighborhoods and national retailers.
The subject consists of 65,000 net rentable square feet among 14 buildings and 3.15 acres. The facility has 40 climate-controlled units and 533 non-climate-controlled units, along with 4 parking spaces for a total of 577 total units. Budget Self Storage of Mesa recently underwent an asphalt renovation to improve the facility’s accessibility. The subject offers perimeter-wide fencing, electronic video surveillance, computer-controlled gate access and optimal lighting to ensure secure self-storage. An investor will have the opportunity to increase revenue through the implementation of a robust tenant insurance program. The facility also maintains a manager’s apartment consisting of two bedrooms and one bathroom. The physical and economic occupancies reside at 96.9 and 89.2 percent, respectively. The facility’s occupancies are indicative of the need for self-storage in this densely populated region.
The property is strategically situated at 240 East Southern Avenue and offers excellent visibility and convenient ingress and egress to and from the property. East Southern Avenue sustains a traffic count of over 24,000 vehicles per day. The facility is approximately 0.8 miles from South Country Club Drive, which witnesses a traffic count in excess of 40,000 vehicles per day. U.S. Highway 60 is approximately 0.5 miles from Budget Self Storage of Mesa and boasts a robust traffic count of over 237,000 vehicles per day.
The Phoenix-Mesa-Scottsdale Metropolitan Statistical Area is among the fastest growing in the United States. The region consists of over 4,700,000 million individuals and makes up a majority of Arizona’s population. Additionally, Maricopa County was ranked as the fastest-growing county in the nation by the 2016 U.S. Census Bureau for the highest annual population growth.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Valrico Self Storage. Located in Hillsborough County, Valrico is a component of the Greater Tampa Bay area and is approximately 15 miles from downtown Tampa. Currently, the facility sustains physical occupancies 89.8 percent. The subject boasts years five and seven leveraged IRRs of 24 percent, respectively. The property has excellent ingress and egress to and from the property and is within close proximity to multiple heavily-frequented thoroughfares.
Consisting of 23,095 net rentable square feet on 2.06 acres, the facility offers non-climate-controlled units ranging from 20 square feet to 500 square feet. The subject also includes a 1,200 square foot apartment and seven spaces for Boat and RV storage. Valrico Mini Storage maintains a fully-fenced and gated property, a professional onsite management team and wide aisles for convenient drive-up access to the units. The facility also offers online billing, tenant insurance and a business center for consumer convenience. The units have been well-maintained and are suited to accommodate household, personal and business storage needs.
Conveniently situated at 2108 Jelane Drive in Valrico, Florida, Valrico Mini Storage is adjacent to East Brandon Boulevard, which sustains a traffic count of over 54,000 vehicles per day. The property is also within five miles of Interstate 75, which witnesses traffic counts in excess of 85,000 vehicles per day. Furthermore, Valrico Mini Storage is approximately 6.5 miles from Interstate 4, which demonstrates a robust traffic count of over 139,000 vehicles per day, presenting a prime opportunity for an investor to capitalize on a high-traffic region. The vicinity highlights a fantastic blend of residential homes and nationally-recognized retailers. The facility is adjacent to Walgreens and a Shell Gas Station, in addition to maximum proximity of 0.4 miles from LA Fitness, Cracker Barrel, The Dollar Tree, Amscot, McDonald’s, Zaxbys, Applebees, Publix, Hardees, Speedway Gas Station, Chase Bank, Burger King, Dunkin Donuts and CVS.
Valrico is a suburban component of Tampa Bay, which is situated in the Tampa-Saint Petersburg-Clearwater Metropolitan Statistical Area. Tampa Bay is one of the most desirable destinations in Florida. The region offers a vibrant atmosphere with several top-rated beaches, historical attractions and a thriving business district. Tampa is the third most-populated city in the state of Florida and is the most densely-populated area in Hillsborough County.
The Mele Group of Marcus & Millichap is pleased to exclusively offer the Union Self-Storage Development in the Township of Union, New Jersey, a component of the New York-Newark-New Jersey City, NY-NJ-PA Metropolitan Statistical Area. The proposed self-storage opportunity is impeccably situated in the heart of Union’s densely-populated residential area. Overall, the opportunity showcases the ideal components for any self-storage facility: a strong and thriving demographic profile, great visibility from many major thoroughfares and the ease of accessibility paired with remarkable traffic counts. Furthermore, the development will also continue to benefit from the immediate area’s revitalization, neighbored by planned national tenants Wawa, Popeyes Louisiana Kitchen and Marriott’s Fairfield Inn and Suites. Upon approval, the Class A, fully-climate controlled facility is projected to yield a gross building area of 120,000 square feet and 90,000 rentable square feet.
Located at 1650 U.S. Highway 22 West, the proposed site will feature premier climate-controlled self-storage in a highly-active residential and retail corridor in the Township of Union. The facility will feature multiple entry points to ensure convenient access for all tenants with 300 feet of frontage, in addition to strategic pylon signage for optimal visibility. Approval, projected to occur by fall 2018, will entail a three-story self-storage facility residing on 2.5 acres and 300 feet of frontage. The development is a component of Union’s pilot program, which benefits an investor with a reduction in taxes from over $2 per square foot to $1.25 per square foot for at least ten years. The surrounding vicinity is also undergoing revitalization to match the population growth with the addition of the planned, new tenants surrounding the self-storage opportunity. The property offers access from U.S. Highway 22, which sustains a traffic count of over 93,000 vehicles per day. The subject is also a mile from the Garden State Parkway, which has a vehicle count of over 194,000 per day. Entry to Interstate 78 is approximately 1.1 miles from the property, sustaining over 170,000 vehicles daily. The property has excellent visibility and access on the prime retail corridor U.S. Highway 22 as well as from Vaux Hill Road, which connects the subject directly to the surrounding residential neighborhoods. This market has extremely dense daytime and residential populations, signifying the area’s strength, and the development will also benefit from its proximity to several heavily-frequented thoroughfares.
Union is a rapidly-growing community in the most densely-populated metropolitan region in the country, as the New York Metropolitan area consists of over 20 million individuals. Union County offers residents several convenient transit options to New York City, home to several industry leaders in technology, entertainment, sports, research and tourism. Acquisition offers an investor a unique opportunity to benefit from an incredibly populous region that continues to swell at a substantial annual rate.
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The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Discount Storage, located in Plymouth, Indiana. Discount Storage offers the opportunity to acquire the area's superior self-storage facility, representative of the best of the market. The facility is perpendicular to U.S. Highway 30 and offers convenient egress and ingress to and from the property. The facility also has excellent visibility from U.S. Highway 30. Discount Storage is currently a lease-up facility that has been pristinely maintained by the owner. Phase one opened in November of 2016 with three buildings, including two non-climate-controlled buildings and one climate-controlled building. Phase two opened in August 2017 with the 4th building, while buildings five through eight opened in October of 2017. This is an ideal investment; the facility offers convenient 24/7 rental options with an available kiosk, computerized video cameras and outside parking for vehicles, RVs and boats.
The subject consists of 45,400 rentable square feet throughout nine buildings. Overall, the facility has 379 units, including 272 non-climate controlled units and 88 climate-controlled units. The facility’s premises indicate its recent construction from 2016, with superior architectural design compared to the market’s competitors, a range of amenities to cater to all storage needs and convienent accessibility from Lincoln highway. Physical and economic occupancies reside at 66.7 percent and 55.3 percent, respectively, as the facility is growing through the lease-up phase. The property is secured with fencing, gating, lighting and video surveillance, ensuring tenants’ belongings are stored in a safe and professional manner. Furthermore, there is no on-site management, as the facility relies fully on the kiosk service, eliminating staffing costs for the investor.
Marshall County is reputed for its suburban living, as the area’s natural beauty attracts families, outdoor enthusiasts and tourists on a consistent basis. Plymouth is the center of commerce for Marshall County and provides community members with a festive atmosphere in a suburban setting. Plymouth is an exterior component of Indiana’s South Bend region, which is home to Notre Dame University. The region is also well-known as Michiana, comprised of northern Indiana and southwestern Michigan.
The Mele Group of Marcus & Millichap is pleased to offer the Oswego Self-Storage Land Development, located in the Chicago Metropolitan Statistical Area. Acquisition provides a qualified investor with a well-situated development site, featuring outstanding visibility and quick access from U.S. Highway 30. Residing on 5.135 acres of land at 1945 Wiesbrook Road in Oswego, Illinois, the proposed site's sketch plan reflects an institutional-quality, multistory facility of approximately 86,210 square feet. Consisting of fully-climate controlled units, the offering would represent that the market has to offer. The site is in proximity to numerous single-family and multifamily communities for a total five-mile population of approximately 247,513 individuals and 77,721 households with an average household income of $88,711, surpassing the national average.
In addition to strong demographics, the site is strategically positioned in close vicinity to U.S. Highway 30 and U.S. Highway 34/Walter Payton Memorial Highway. These two primary highways are lined with the community's major retail hubs including nationally-recognized anchors Walmart Supercenter, Target, Sam's Club, ALDI, The Home Depot, JCPenney and Menard's, among many others all in a two-mile distance or less.
Oswego is the most populous municipality in Kendall County, known for its well-educated workforce, efficient transportation system and high quality of life. Located southwest of Chicago, Oswego is located at the southern end of Fox River Valley. The community is notable for maintaining its small town charm, abundance of recreational programs and high education standards, drawing in new families to the area. Commercial and office growth has followed the increase in population, providing retail shopping and employment opportunities for Oswego residents as well as many non-residents from the smaller, surrounding towns. The Chicago MSA ranks among the most populous metro areas in the nation and in the world with an estimated 2015 population of 9,472,676 individuals. The metro area is reputed for housing a number of Fortune 500 companies, including Walgreens, McDonald's, Boeing and State Farm.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Safe and Sound Storage in Port St. Lucie, Florida. Port St. Lucie is situated in St. Lucie, Florida, a component of the Miami-Fort Lauderdale-Port St. Lucie Combined Statistical Area. The facility offers significant value-add opportunities through the continuation of lease-up activity. Currently, the facility sustains economic and physical occupancies of 64.8 percent and 58.2 percent, allowing an investor the substantial advantage of renting out units that aren’t currently marketed for rent. The reason for the sub market rate occupancies is the majority of the facility’s second tier units have been unavailable for consumers to rent, despite the demand for additional units. A qualified investor can drastically capitalize on this unique lease-up opportunity.
Consisting of 37,436 net rentable square feet on 2.63 acres, the facility maintains standard and climate-controlled units ranging from 12 square feet to 150 square feet. The property is secured with 24/7 video surveillance, gating and fencing. The subject boasts a 1,000 square foot back office which could potentially be converted to more storage units. The property also boasts a voluminous amount of parking space in front of the facility, presenting prime opportunities potentially for additional expansion. The facility serves as an authorized neighborhood U-Haul dealer, which generates additional revenue for the subject, while featuring favorable amenities such as spacious parking, premium security and online billing options for consumer convenience.
Conveniently situated on Southeast Jennings Road in Port St. Lucie, Safe and Sound Storage is perpendicular to U.S. Highway 1 and is surrounded by several large residential communities. U.S. Highway 1 demonstrates traffic counts of over 45,000 vehicles per day. Southeast St. Lucie Blvd is within a mile of the subject and maintains a traffic count in excess of 44,000 vehicles per day. The subject is also within 10 miles of Florida’s Turnpike and Interstate 95, two major thoroughfares that sustain traffic counts of over 50,000 and over 77,000 vehicles daily. The facility has excellent visibility from Southeast Jennings Road, which intersects with U.S. Highway 1. Furthermore, the subject’s desirable location on Florida’s coveted East Coast continues to draw in seasonal enthusiasts from mid-Atlantic region utilizing the facility. The vicinity highlights a fantastic blend of residential homes and both local and nationally-recognized retailers.
The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale AStoreroom Mini-Storage. AStoreroom Mini-Storage is located in New Braunfels, Texas; a key mainstay of the San Antonio-New Braunfels Metropolitan Statistical Area. The facility is situated approximately 30 minutes outside of San Antonio and allows convenient access to frequently-traveled thoroughfares within the region. The facility is situated in a rapidly-growing demographic region which benefits from a lack of environmental and underground water concerns, making the area a desirable residential corridor with minimal development restrictions on single-family homes.
Consisting of 67,900 net rentable square feet on 4.60 acres, the facility maintains 582 non-climate-controlled units. The facility was recently expanded by 27,400 square feet, yielding an additional 219 units in 2017. The subject sustains economic and physical occupancies of 71.6 and 74.0 percent, allowing an investor to benefit from the continuation of lease-up activity. The subject currently offers rates below the market average, presenting a prime opportunity for an investor to raise rates and increase revenue. AStoreroom Mini-Storage maintains a staff that prioritizes customer service and cleanliness; the facility is fully fenced, gated and lighted for safety. The property also offers concrete drives which can be easily maintained.
The facility is situated in a high-growth corridor and is within close proximity to several residential zones, schools and national-retailers. There are a multitude of housing units and neighborhoods located off Klein Road, which is within a mile of the facility. According to the New Braunfels Economic Development Council, the City approved single-family building permits with a total valuation of approximately $665 million. The City also issued 392 new business electric meters, per New Braunfels Utilities. There were 3,159 building permits issued by the City for 2016-2017, which is indicative of the growth within the region.
New Braunfels is located in Comal and Guadalupe Counties and serves as the seat of Comal County, which is the second fastest-growing county in the United States. New Braunfels and Comal County are currently witnessing an unprecedented rise in population density, sustaining an average growth rate of five percent annually; a 77 percent increase in the last decade. The area offers a quaint suburban environment which continues to expand at a rapid pace. Residents and tourists are drawn to the areas desirable amenities, natural resources and proximity to downtown San Antonio.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Anthem Self Storage, an institutional-quality self-storage development located in Anthem, Arizona, a component of Maricopa County and the Phoenix Metro Area. Anthem Self Storage provides a qualified investor with the opportunity to acquire a brand new, Class A self-storage facility upon Certificate of Occupancy with a substantial footprint in one of the nation’s fastest-growing areas. Developed by The Bell Group, construction is currently underway and is projected to yield a total of 95,258 rentable square feet among 9 buildings on 7.5 acres. The facility will have 546 climate-controlled units, 189 drive-up units, 27 open RV parking spaces and 28 covered RV parking spaces for a total of 790 units.
Strategically situated on North Gavilan Peak Parkway, this thoroughfare witnesses an estimated 16,800 vehicles daily. The site is located within the master-planned community versus competitors, giving the advantage of directly serving the undersupplied storage market. West of the development is Interstate 17, one of Metro Phoenix’s two major connectors, which demonstrates traffic counts of over 64,500 vehicles daily. At Certificate of Occupancy, the facility will prominently be one of the only two climate-controlled facilities within Anthem, where the rapidly-growing population has a three-mile average household income exceeding $119,000 and booming employment growth. Furthermore, the surrounding master-planned community has restrictions on parking boats on residential driveways, making for a quick lease-up time for the facility’s boat/RV storage given its proximity to housing and Lake Pleasant, reputed for its scenic water recreation.
The City of Anthem has been awarded a number of accolades by both local and national publications, including recognition as the top master-planned community in the United States by the National Association of Home Builders. This strong growth mirrors Maricopa County’s overall swelling population of approximately 222 individuals migrating per day in 2016, notably more than any other county in the nation.