2-Property, Value-Add Self-Storage Opportunity – Vancouver, WA

Under Agreement
NRSF
85,759
Vancouver, WA
Value-Add Portfolio
Value Add Assets: Physical occupancy of 72% and economic occupancy of 66% provide significant opportunity for value enhancement.
100% Drive-Up Access: A highly desirable feature, now prohibited by recent City of Vancouver zoning.
Strategic Location: Vancouver Mall location benefits from its position in Vancouver’s primary retail hub, with easy highway access. Brush Prairie facility is located in a quickly developing residential area in NE Vancouver.
Quality Construction & Premium Aesthetic: Both facilities built in 2019 – All steel interior/exterior finishings and offering attractive curb appeal.
Rapid Expansion in Clark County: Recognized as one of the fastest growing counties in Washington State and fastest growing county in the Portland MSA.
Vancouver Zoning Restrictions: Restricts drive-up units, street-facing doors, outdoor storage and mandates multi-story facilities and 500-foot corridor setbacks.
Portfolio or Individual Offers: Owner willing to sell as a combined portfolio or separate individual properties.

The Cushman & Wakefield Self-Storage Advisory Group has been exclusively engaged to market this two-property self-storage opportunity in Vancouver, WA.

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.




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