Green Cove Springs, FL – New Self-Storage Development
NEC FL-17 & CR 315, Green Cove Springs, FL 32043

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Price
Market Bid
NRSF
63,734
Green Cove Springs, FL
New Self-Storage Development
4.73 per capita within 5 miles including this property
Only facility built within the last 7 years within 5 miles
Median HH Income of $93,731 within 3 miles
3,300 acre multi-use development planned about 2 miles south of the Green Cove Springs development

The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale the Green Cove Springs C/O Opportunity in Green Cove Springs, FL.

This project consists of a three-story, 63,734 net rentable square foot building featuring 750 units which includes 83 RV/boat parking spaces. This project is destined to lead the market because of the limited competition within the five-mile trade area which consists of only four other self-storage facilities. It is the newest facility with top-of-the-line amenities built within the last seven years. Additionally, the location of the property, close to the St. John’s River, provides an added opportunity to capitalize on the 83 RV/boat parking spaces.

On December 20, 2022, BTI Partners, an investment firm based in Fort Lauderdale, announced its acquisition of the 3,300-acre Governors Park property. They plan to develop a variety of properties on the land, including 4,000 single-family homes, 2,000 multifamily units, commercial and industrial facilities, hotel rooms, and a golf course. This development will cover 840,000 square feet of commercial/retail space, 700,000 square feet of office space, 400 hotel rooms, 2 million square feet of light industrial space, and an 18-hole golf course. Additionally, the First Coast Expressway is driving economic development in Northeast Florida. The bulk of the project runs through the heart of Clay County to connect I-10 in Duval County to I-95 in St. Johns County.  Florida Department of Transportation is investing $1.9B to create this limited access toll-road determined to rapidly increase the development of the area.  The 46 mile four-lane divided toll road will include 7 new interchanges in Clay County (13 project total) with traffic flowing through electronic toll gantries without stops. Governors Park is located west of U.S. 17 and north and south of the First Coast Expressway.

The Green Cove Springs facility is expected to be completed in November/December of 2023. It is situated in a trade area where the median household income is $93,731, which is anticipated to grow at a rate of 1.9% annually. This opportunity presents an excellent investment opportunity for an owner looking to expand their footprint within the highly sought-after Florida market due to its strong projected rental rates, minimal Class-A competition, and significant market growth potential within the immediate trade area.

Green Cove Springs, FL

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  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Green Cove Springs, FL Self Storage opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.



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