The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale the ClearHome Self-Storage Portfolio located in Milwaukee.
The ClearHome Self-Storage Portfolio of Milwaukee is comprised of four Class-A properties that consist of a total of 2,639 drive-up and multistory climate-controlled units, with over 366,999 nrsf. The portfolio offers an investor the opportunity to significantly increase returns day one by recognizing the multitude
of value-add opportunities that this portfolio delivers. Together, the four locations, Doral Rd, West Burnham St, West Cleveland Ave, and W Good Hope, provide immediate scale within a submarket where each property sees only one or no competitors within their respective 1-mile competitive radius.
All four locations are strategically located within a 30-mile drive from each other allowing for ease of management and provides the opportunity to implement a growth model to increase the below market rents that are seen at each of the locations. Completed in 2018, 2014, and 2002, these well-maintained facilities offer convenient drive-up storage, climate-controlled units, and more. Burnham St, Clevaland Ave and W Good Hope Rd offer supply metrics of less than 6 ft per capita while Doral Rd boast a median household income greater than $87K.
The ClearHome Self-Storage Portfolio of Milwaukee provides a buyer with the rare opportunity for immediate scale within regions that are seeing limited new supply added to their markets. Three out of the four sites consist of a strong mix of Climate and Non-Climate units while the fourth facility, W Cleveland Ave, presents an all climate-controlled opportunity with the potential for expansion on the 30K sf of land that fronts the facility. Significant rate growth and management upside can be realized at each of the facilities providing a buyer with strong increases to their short-term cash flow as well as long-term returns.