Recent Sales Archives - Cushman & WakefieldCushman & Wakefield

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Market Bid

NRSF – 90,965

Phoenix, AZ

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This 90,965 net rentable square foot facility includes 706 climate-controlled units and 14 convenient drive-up units. Constructed in 2020, the nearly brand-new facility features 24/7 state-of-the-art video surveillance, controlled floor and building access, extra-wide aisles, and drive-thru loading access. The two-story building also features gated access for the drive-up units with a spacious loading area.

Located right on the main thoroughfare of W Northern Ave, visibility is strong with an annual average daily traffic volume of 33,971 vehicles. The location offers convenient access to both Interstate 17 and Route 51. The facility is also surrounded by many fast-food, retail, restaurants, and grocery stores. The trade area also boasts a dense population, with 184,037 people in a 3-mile radius. Multifamily supply in the area is substantial, with 4 new developments completed since 2019 and 2 under construction within 1 mile of the facility.

Physical occupancy is at 87% with economic occupancy at 75%, allowing for ample revenue growth as Phoenix continues to be one of the fastest-growing metros.

INVESTMENT HIGHLIGHTS

Located in one of the fastest-growing metros
Densely populated trade with a population of 184,037 in a 3-mile radius
Convenient access to Interstate 17 and Route 51
Substantial multifamily supply and new construction within the 1-mile trade area
Ample room for revenue growth with an economic occupancy of 75%

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Price: Market Bid

NRSF: 80,914

UNDER AGREEMENT

Acquire a long-standing, established self-storage property located in the fast-growing Fort Lauderdale metro area. Altogether, the Fort Lauderdale metro is home to nearly 6.2 million residents, which has grown nearly 20 percent within the last decade. While self-storage remains a lucrative sector, starting a new business is tough—Florida is currently the nation’s hottest commercial real estate market. High development costs coupled with startup fees create substantial barriers to entry here, which is why this Pembroke Pines self-storage facility is such an exciting opportunity.

Situated 20 minutes Northwest of Miami and 20 minuets Southwest of Fort Lauderdale, this property is easily accessible from I-75 and close to Broward College. This affluent suburb boasts a median household income of over $111K within a one-mile radius.

Built in 1997, the 80,914 square-foot facility comfortably hosts 947 units. Tenants benefit from modern conveniences like drive-up access, ground-floor units, elevators, climate-controlled units, options for vehicle, boat and RV storage and 24-hour security surveillance.

An optimal location coupled with an array of convenient features has made Pembroke Pines a stabilized facility. Physical occupancy is at 97%, while economic is only at 85%, which means easy revenue growth through increasing rent.

For a savvy investor, this self-storage opportunity allows an investor to acquire an established business poised for an immediate return on investment in the highly competitive South Florida region.

INVESTMENT HIGHLIGHTS

Property is located within a suburb of Fort Lauderdale / Miami, one of the nation’s fastest- growing metropolitan areas with a population nearing 6.2 million.
Optimal location close to Florida International University and Broward College.
Median household income of over $111K within a one-mile radius.
Established facility completed in 1997.
The 80,914 square-foot structure is equipped with 947 units, including climate-controlled options.
RV, boat & vehicle parking options available.
Property is protected by a 24-hour security system.
Facility is physically stabilized with physical occupancy at 97% and economic occupancy at 85%.
Facility is undergoing repaving, to be completed by 9-22

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Price: Market Bid

NRSF: 70,931

UNDER AGREEMENT

Take advantage of an exclusive opportunity to acquire an established storage facility in the bustling Atlanta metropolitan area. Home to a staggering 6 million residents, Atlanta is the ninth most populous metro area in the nation. A well-educated workforce coupled with affordable costs of doing businesses continue to draw new opportunities to the busy metro.

Less less than 30 minutes from Atlanta lies Peachtree Corners—the only northern Atlanta suburb that developed as a planned community. The self-storage facility listed for sale is located at 7112 Peachtree Industrial Blvd, which is just off of I-285, between Winters Chapel Rd and Amwiler Rd, near First Senior Center. This densely populated area is home to 9,397 residents within a one-mile radius, 87,302 within three miles and 249,566 within five miles. The median household income is $70,632 within a five-mile radius.

This property offers a multitude of storage options for the metro’s growing population. Built in 2021, this modern structure offers a total of 692 rentable units. The 70,931 square-foot facility includes climate-controlled storage options as well as 24-hour access with personal keypads and around-the-clock video surveillance.

All elements considered, this sale presents a unique opportunity to secure an optimally located facility in a prominent, densely populated metropolitan area where self-storage demand only continues to grow.

INVESTMENT HIGHLIGHTS

Established businesses located in the Atlanta metropolitan area; current population is 6 million.
Facility offers a total of 70,931 square feet of space and 692 fully climate-controlled units.
Convenient location with quick access from I-285.
Belongings are safeguarded by state-of-the-art video surveillance.
Physical occupancy is 78.5% / 79.6% while economic occupancy is 69.26%.

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Price: Market Bid

NRSF: 75,097

UNDER AGREEMENT

Take advantage of the opportunity to acquire an established self-storage property in Alabama’s second most populous city. The metro area of Birmingham comprises 1.1 million residents. The city is consistently ranked as one of the nation’s fastest growing thanks to a low cost of living. The city boasts 43% lower housing costs than the national average and 14% lower in overall costs.

The property listed in this sale is conveniently located at Acton Rd and Caldwell Mill Rd, just off US-280E. Within this affluent area, the median household income is $78,480 within a one-mile radius and up to $86,592 within a three-mile radius. Completed in 2021, this modern structure offers 75,097 square-foot of space with 660 various-sized units. Units also come with convenient features like indoor access, first-floor access, elevator access and climate-controlled options to protect personal belongings from sweltering Alabama summers. The facility is protected by a 24/7, state-of-the-art video monitoring system.

Altogether, this sale presents a unique opportunity to acquire an established business with modern updates in a bustling Southern metro bolstered by a positive economic outlook and low cost of living.

INVESTMENT HIGHLIGHTS

Established business serving the growing Birmingham metro; current population is 1.1 million.
Recently renovated structure with an accessible location off of US-280 E.
New-construction facility completed in 2021.
75,097 square-foot structure situated on 2.9-acre lot.
Facility offers 660 fully climate-controlled units.
Physical occupancy is at 75.9% / 68.3% while economic occupancy is at 50.40%.

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SOLD

NRSF – 28,995

The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of the 4-Property Self-Storage Portfolio located in Roanoke Rapids, NC.

The acquisition of these 4 properties will provide an investor the ability to instantly gain scale in the community, the ability to continue to grow the income as well as the opportunity to easily manage the overall business from one central point.

All locations are well-established, cash flowing, and all within a few minutes’ drive of each other. Built between 1994 and 2020, this opportunity provides 28,995 total rentable square feet that are currently 99% physically occupied, across 287 total units among four total locations throughout town. All locations are securely fenced and 3 of the 4 provide 24/7 video surveillance.

Located along the Roanoke River in Halifax County, Roanoke Rapids, NC, and the surrounding area is a hotbed for outdoor activities. Museums, golf, recreational lake activities, and wine tasting are just a few area attractions that make Roanoke Rapids a desirable place to live and visit. Roanoke Rapids benefits from easy access to Interstate 95 and boasts rising per capita income levels as well as a steady population base.

In summary, this sale presents a unique opportunity to acquire a well-known, well-established self-storage business in a market with no new incoming self-storage development projects.

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SOLD

NRSF – 26,025

Cushman & Wakefield has been selected to exclusively market the sale of Affordable & Safe Self Storage in Naugatuck, CT.

This offering presents prospective purchasers with the opportunity to acquire a fully stabilized asset with multiple upside opportunities. Affordable & Safe Self-Storage, as with all the other assets in the trade area, boasts excellent historical physical occupancy. As of the date of publication, the asset is 97.1% physically occupied.

Affordable & Safe Self Storage is located at 1257 New Haven Road, Naugatuck, CT within very close proximity to major retailers such as a Walmart Supercenter, Dunkin’, Planet Fitness, Tractor Supply, and McDonald’s. The population within the five mile trade area is 72,000+ with a median household income of $80,358. Within the trade area, there is currently only 3.06 NRSF/capita with no projects currently under construction, approved, or planned. The facility is comprised of one, two-story (on grade) building totaling 26,025 net rentable square feet of storage. The units offer a convenient mix of climate controlled interior and non-climate drive-up options. There is a permit-ready, fully approved additional building, which would add an additional 1,700 NRSF of drive-up storage on the south of the parcel.

The successful purchaser will acquire a high-quality, purpose-built, stabilized asset in a market with remarkably low levels of competition. Rate adjustments, tenant insurance penetration, and ancillary revenue streams will provide superior returns in the immediate and longer-term. The confluence of minimal competition, with near 100% occupancy amongst the competitive set leads a prospective owner to have near unlimited pricing power for years to come.

INVESTMENT HIGHLIGHTS

High Occupancy Stabilized Asset with room to push rents
High Demand for Storage with Limited Competition
Purpose-built New Construction
Below Market Rents
No Future Supply Currently Planned, Approved or Under Construction
Opportunity to Implement Professional Management

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UNDER AGREEMENT

NRSF – 119,680

Take advantage of an exclusive opportunity to acquire an established self-storage facility in California’s world-famous Wine Country. With a population of 179,701, Santa Rosa is the largest city in California’s Wine Country and Redwood Coast, as well as the fifth most populous city in the Bay Area.

Located on Dutton Meadow between Hearn Ave and Bellevue Ave, the Santa Rosa property is just a few minutes south of Meadow View Elementary School. In this affluent area, median household incomes are around $70,000.

The 119,680 square-foot structure is situated on a sprawling 8.8-acre lot. There are currently 1,554 rentable units with the potential to convert parking and further expand the storage footprint for this growing business. Storage occupancy is already at 93.2%, up 4.3% from last year.

While constructed in 1996, the facility is well-maintained with extensive capital recently deployed, including 409 door replacements, two apartment repairs and an LED retrofit. For additional enhancements and energy savings, the facility can easily be outfitted with solar power as the permit has already been pulled.

All told, the sale offers the rare opportunity to acquire a self-storage facility in a highly affluent area with considerable value-add upside potential.

INVESTMENT HIGHLIGHTS

Established facility in Sonoma County; current 3-mile population is 82,189.
Located in an affluent area; median 3-mile household income is around $70,000.
119,680 square-foot structure with 1,554 rentable units.
Well-maintained facility with recent renovations.
Storage occupancy is already at 93.2%, up 4.3% from last year.
Storage achieved RPSF up 23% YoY; $14.93psf to $18.33psf.
Opportunity to add solar to the property (permit ready).
Potential to increase net operating income by converting uncovered parking units into traditional storage.

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UNDER AGREEMENT

NRSF – 70,590

On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the Storage Sense Self Storage managed facility in Knoxville, Tennessee.

Located just off the main thoroughfare of Kingston Pike, at 6410 Deane Hill Dr., the property is ideally positioned to benefit from strong population growth, excellent demographic profile within the trade area and close proximity to The University of Tennessee. The facility is 63%+ leased in just over one year of operations.

The class A facility, completed in 2021, is a purpose built, stand alone structure, surrounded by national retailers and residential rooftops. There is currently, no new storage in the development pipeline within the three mile trade area. Stabilized rental rates are projected at $20/psf +/-.

The successful purchaser will benefit from a new class A building with ample revenue growth from continued lease up and rental rates reaching market average.

INVESTMENT HIGHLIGHTS

Excellent Lease Up Velocity
Superb Location within Trade Area
Class A Purpose Built Facility
High Residential Density Within Trade Area
High Income Sub-Market

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Market Bid

NRSF – 64,490

UNDER AGREEMENT

The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of the Physically Stabilized South Florida Self-Storage Opportunity, a property located in the Fort Lauderdale/Miami metro area.

Acquire a physically stabilized self-storage property in the densely populated Southeast Florida metropolitan area. With a population of nearly 6.2 million, Southeast Florida reported nearly 20 percent growth since the 2010 census and is consistently ranked as one of the fastest-growing cities in the nation. Davie, FL is a principal city within this metro and is located just 6 miles west of Fort Lauderdale 24 miles north of downtown Miami.

The self-storage facility listed in this sale is situated on a 4.5-acre lot along the heavily trafficked S University Dr, which sees 47,000+ vehicles each day. Dunkin’,
Target, Burger King and a host of new multifamily developments are located nearby. This 64,490 square-foot structure easily serves nearby residents with 666 rentable units. For confidence and convenience, the facility features a state-of-the-art security system, with climate-controlled, drive-up and parking units available.

As the densely populated city of Miami continues to expand, neighboring cities like Davie are poised for continuous growth. For a savvy investor, this self-storage opportunity allows an investor to acquire a brand-new business in booming South Florida.

INVESTMENT HIGHLIGHTS

Physically stabilized facility located in the densely populated Miami metro area, which is home to nearly 6.2 million residents
On-site apartment to easily manage property
Excellent Visibility from S University Dr (47,000 AADT) close to restaurants and residential housing
High barriers to entry in the FTL storage market
State-of-the-art security, including video surveillance and keypad entry
Apartment demand has surged in Broward County over the past several quarters, and the local multifamily sector is in a historically strong position

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UNDER AGREEMENT

NRSF – 58,813

The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of a property located in the Fort Lauderdale/Miami metro area.

Acquire a brand-new self-storage property in the densely populated southeast Florida metropolitan area. With a population of nearly 6.2 million, Southeast Florida reported nearly 20 percent growth since the 2010 census and is consistently ranked as one of the fastest-growing cities in the nation. Davie, FL is a principal city within this metro and is located just 6 miles west of Fort Lauderdale 24 miles north of downtown Miami.

The self-storage facility listed in this sale is situated on a 1.2-acre lot along the heavily trafficked Davie & Stirling Roads, which see a combined total of 55,000+ vehicles each day. Wawa, MacDonald’s and a host of new multifamily developments are located nearby. Slated for completion this summer, the 58,813 square-foot structure easily serves nearby residents with 583 rentable units. For confidence and convenience, the facility features a state-of-the-art security system and climate-controlled units to protect against South Florida’s humidity.

INVESTMENT HIGHLIGHTS

Brand-new facility located in the densely populated Miami metro area, which is home to nearly 6.2 million residents
Excellent Visibility from Davie Road (16,200 AADT) & Stirling Rd (40,500 AADT)
High barriers to entry the FTL storage market
Modern structure located along busy Davie Road close to restaurants and residential housing
State-of-the-art security, including video surveillance and keypad entry system
Apartment demand has surged in Broward County over the past several quarters, and the local multifamily sector is in a historically strong position

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