Fort Lauderdale MSA, Class-A, New Construction, Self-Storage Opportunity
1481 NW 65th Ave, Plantation, FL 33313

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Price
Market Bid
NRSF
93,890
Plantation, FL
New Construction
Opportunity to acquire a state-of-the-art, brand new self-storage property at certificate of occupancy
Excellent 3-mile demographics with over 195,321 people and a median household income of $54,212
Excellent supply and demand fundamentals with only 4.53 square feet per capita compared to 6.48 in the Miami-Fort Lauderdale MSA and 6.36 across the nation
No additional stores currently in the development pipeline within 3-miles of the store
Opportunity to get in early to capitalize on the upside that comes with acquiring a store at certificate of occupancy

Cushman & Wakefield’s Self Storage Advisory Group has been exclusively retained to offer for sale a brand new, Class A self-storage facility in Plantation, FL.

This property presents a unique opportunity to acquire a brand new, self-storage property in Plantation, FL. The property will deliver with 93,890 rentable square feet of Class A self-storage. The facility has an average unit size of 100 SF spread across 219 climate-controlled ground floor, 698 climate-controlled elevator-access units, and 21 drive-up units. The facility is expected to deliver in 2Q24.

The market fundamentals and demand drivers for self-storage in the subject property’s trade area are among the best in the nation. Plantation is home to approximately 5,400 businesses including large employers such as Motorola Solutions, Aetna Insurance, TradeStation, Virgin Voyages, and others. There are a variety of quality housing options including residential apartments in mixed-use developments in Midtown to traditional, large lot, single-family residential neighborhoods such as Historic Old Plantation (less than 2-mile drive from the subject property). Within a 3-mile radius, the current population is projected to be over 195,321 people with a median household income of over $54,212.

This property offers buyers the opportunity to acquire a brand new, high-quality store in one of the fastest growing counties in the United States. Buyers will benefit from the opportunity to get in early and take advantage of all the upside that comes with acquiring a store at certificate of occupancy. Based on our projections, we estimate that buyers will realize levered IRRs in the 16%-18% range.

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