Exceptional opportunity to acquire The Storage Works Portfolio, two established facilities totaling 507 units spread over 85,759 rentable square feet located in Vancouver, WA. The facilities are both single-story configuration with 100% of the unit mix offering drive-up access. The combined portfolio is 72% physically occupied and 66% economically offering significant upside.
The Brush Prairie facility is located in a rapidly expanding area of NE Vancouver. Street frontage along NE 117th Ave provides exposure to over 31k+ cars daily. The Vancouver Mall facility benefits from adjacencies to both I-205 and the Vancouver Mall. I-205 sees over 78k+ cars daily and Vancouver Mall attracts and estimated 5.5 million visitors annually. Together, the two locations, offer operational efficiencies and provide an excellent footprint in the Vancouver market.
Vancouver, located in Clark County, WA is located across the Columbia River from Portland. Vancouver and Clark County is growing significantly faster than the overall Portland MSA due to its favorable tax structure, pro-business environment and high-quality of life.
The Storage Works Self Storage portfolio provides an exceptional opportunity to acquire two high-quality, privately owned and operated, single-level stores in
a rapidly growing suburban MSA. There is significant upside in installing institutional level management, improving occupancy and strengthening returns through future rent growth.