Cushman & Wakefield’s Self-Storage Advisory Group is pleased to offer the opportunity to acquire Centralia Self Storage. The offering is an investment grade
45,782 net rentable square foot self-storage facility located on 3.29-acre parcel in Centralia, WA. The fully secure facility offers 368 units of drive-up self-storage, interior units, vehicle parking, and a fully equipped rental office with live-in manager’s apartment. The over 85% economic occupancy the facility offers makes Central Self Storage a safe-harbor investment in a growing logistics hub town strategically located in between Portland and Seattle. Centralia Self Storage is located at a busy crossroads that serves as one of the main thoroughfares of the community. The 10,000 cars per day street functions as a junction between the twin cities of Centralia & Chehalis connecting the residential centers with I-5 and industrial center. The site is situated across the street from a Dollar General and is better positioned than the competition to serve the residential section of the city. The surrounding population boasts an average household income of approximately $70,000 per year with a high percentage of renters. The combination of main street road visibility and proximity to the population will continue to make the offering a stable performer. The facility offers the opportunity to own a staple rent estate asset in a growing community. The facility offers a year 3 cash on cash of 10.3% and a 5 year IRR of 20.2% with market-rate financing. The facility recently had new roofs installed and siding replaced which keeping future maintenance costs down. The asset is well-positioned to perform, producing consistent yields for the foreseeable future.