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On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the soon to open REIT-managed self-storage facility in Bellmawr, New Jersey. It is anticipated that the sale will close upon or after receipt of the Certificate of Occupancy from Bellmawr County. Currently, C of O is projected in the 3rd quarter of 2021.” description=”” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”#003865″ background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”20px” padding_bottom=”0px” padding_left=”20px” margin_top=”20px” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”custom-property-box-text” id=””]
SOLD
Total Size – 83,750 NRSF
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On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the soon to open REIT-managed self-storage facility in Bellmawr, New Jersey. It is anticipated that the sale will close upon or after receipt of the Certificate of Occupancy from Bellmawr County. Currently, C of O is projected in the 3rd quarter of 2021.
Located at 141 Kings Highway, the 3 story, new ground-up development is slated to open in early 3rd quarter 2021 and is comprised of 83,750 rentable square feet among 956 units, all climate controlled. Units ranging from 25 to 300 square feet which are served by two freight-rated elevators, while a state-of-the-art management office is located on ground level. The facility will include full video surveillance, electronic keypad ingress and egress, and individually alarmed units. The facility benefits from premium visibility on Crescent Blvd (Rte 130) with vehicle counts of 24,402 and is also a catty-corner from a newly developed Wawa Gas Station. The trade area competitive supply is limited and made up of older facilities – other than this property, the second newest asset was built in 2003. Within the trade area, there are only 3.65 square feet per capita, allowing for immense pricing power upon stabilization.
One of the main suburban markets of the Philadelphia MSA, Camden County is the eighth-largest county by population in New Jersey. Bellmawr is situated
between the NJ Turnpike and the Delaware River, along with other prominent Philadelphia suburbs such as Cherry Hill, Haddon Township, and Camden. Philadelphia is the nation’s sixth-largest metropolitan area and the seventh-largest city and is situated in the heart of the Northeast Corridor. Philadelphia and its surrounding suburbs represent the keystone of major north-south, east-west highway and rail networks. The overall population is estimated to be approximately 6.0 million as of the fourth quarter 2015.
The successful purchaser will acquire a modern, new facility in a prime location within the Philadelphia MSA and will benefit from reliable lease-up at high rental
rates, in an undersupplied market, and continued long-term appreciation in major market class A assets.
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Market Bid
Total Size – 25,065 NRSF
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On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, Budget Self Storage, Springfield, VA. Located within the Highland Business Park Condominium at 7331, 7350 and 7327 Steel Mill Drive, Springfield, VA, the facility consists of two, three story self-storage buildings with both drive-up and interior storage, one flex industrial building encumbered by two commercial leases and one raw land parcel that is leased to a commercial user. Built in 1989, total self-storage rentable area is 25,065 among 306 units. The flex building is currently configured for approximately 10,678 square feet of floor area, while the leased land parcel spans approximately ½ acre. There is approximately one acre of parking adjacent to the flex building with additional parking dispersed throughout the complex. All structures are masonry and brick construction. Amenities include a modern storage office and video surveillance.
With high population density and an excellent demographic profile, the facility is perfectly positioned to capitalize on it’s location within a residential community adjacent to “the mixing bowl”, the confluence at the capitol beltway of I-95, I-495 and I-395, among additional local tributaries. Within the three mile trade area, median household income is $117,238 among a population of 127,324. Population growth rate within the trade area currently stands at .58% annually. Total current supply is 4.6 square feet per capita with one new project under construction and one in planning. Adjusted for potential new recorded development, supply may reach 6.9 square feet per capita if all proposed projects materialize. Since March of 2020, rental rates within the trade area have been on a steady upward trajectory, and currently stand at $27 per square foot among all units. In place rate per square foot at the facility is $15.36 with physical occupancy far below market average at 77%. Translated economic occupancy is 75%. There is currently no tenant insurance income, merchandise income or fee income.
Significant value-add opportunity exists through gains in occupancy, rental rates, ancillary revenue streams and revenue management. Eventual repositioning of all or part of the property may present further opportunity to capture value.
INVESTMENT HIGHLIGHTS
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[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_images picture_size=”auto” hover_type=”none” autoplay=”no” columns=”4″ column_spacing=”13″ scroll_items=”” show_nav=”yes” mouse_scroll=”no” border=”yes” lightbox=”yes” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/Email_teaser1-300×232.jpg” image_id=”3927|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/Email_teaser2-300×232.jpg” image_id=”3928|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/Nuvo-7-Self-Storage-map-300×232.jpg” image_id=”3930|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/CandidlyYoursPhotography-03-300×200.jpg” image_id=”3931|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/CandidlyYoursPhotography-14-300×200.jpg” image_id=”3932|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2021/05/CandidlyYoursPhotography-39-300×200.jpg” image_id=”3933|medium” link=”” linktarget=”_self” alt=”” /][/fusion_images][/fusion_builder_column][fusion_builder_column type=”3_4″ layout=”3_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_tagline_box backgroundcolor=”” shadow=”no” shadowopacity=”0.70″ border=”1″ bordercolor=”” highlightposition=”top” content_alignment=”left” link=”” button=”” linktarget=”_self” modal=”” button_size=”” button_type=”” button_shape=”” buttoncolor=”default” title=”The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale this curation of seven self-storage facilities with a concentration of 5 assets in Florida and 2 in Pennsylvania.” description=”” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”#003865″ background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”20px” padding_bottom=”0px” padding_left=”20px” margin_top=”20px” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”custom-property-box-text” id=””]
SOLD
Total Size – 526,308 NRSF
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Cushman and Wakefield have been selected to exclusively market for sale this curation of seven self-storage facilities with a concentration of five assets in Florida and two in Pennsylvania. These Core, Class A assets present a rare opportunity to take advantage of prime, high barrier to entry locations in densely populated communities in two of the fastest growing areas of the United States. All facilities are brand new Class A construction, from 2018 and on. Each features industry leading modern design with climate-controlled units and every property is conveniently located just minutes from major roadways. Altogether, the seven facilities offer a total of 526,308 net rentable square feet (NSRF) with 5,259 units.
Florida – Consistently ranked as one of the nation’s fastest-growing states, Florida garners nearly 1,000 new residents every day—an annual compound growth rate of 1.53% that is expected to continue for the foreseeable future. Three of the facilities are in Orlando, a city that is quickly becoming an established technology hub along the I4 corridor. New tech jobs are bringing new residents, thus driving the demand for housing and storage. This surge in industry has brought with it multifamily developers adding significant supply to the robust housing market. The remaining two of these prime assets are located in the high growth markets of Jacksonville and Margate, Florida which have seen recent news as high-profile companies are targeting Florida’s east coast as they expand or relocate operations.
Pennsylvania – The remaining two most populous areas: Philadelphia and Pittsburgh. Philadelphia is experiencing explosive suburban growth. One of these brand-new facilities (slated for completion in 2021) is in Media, PA, which is part of Delaware County. Last year, Delaware reported the third-largest population increase of all Pennsylvania counties.
This portfolio provides an investment vehicle to either add to an existing portfolio and expand operations in two major markets or establish a flag with immediate scale. By blending physical stable assets with early-stage lease-up this strategic opportunity has in place cash flow with a significant value add component.
INVESTMENT HIGHLIGHTS
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SOLD
Total Size – 165,190 NRSF
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Cushman & Wakefield has been selected to exclusively market the sale of the DC MSA 2 Property Portfolio. This offering presents the rare opportunity to obtain two newly constructed Class A, facilities within the Washington, DC Suburban MSA. Recent changes in migration trends have highlighted the suburbanization of many major markets around the USA, with city dwellers moving from the urban core and relocating their families to suburbs in the surrounding communities. This opportunity with facilities in Rockville and Columbia, Maryland provides the ability to capitalize on this new normal. The portfolio provides over 165,000 Net Rentable Square Feet in one of the nation’s most dynamic markets. The Rockville facility will be delivered upon Certificate of Occupancy, scheduled for early Q4 2021, while the Columbia facility is currently leased to 54% physical occupancy since September 2019.
INVESTMENT HIGHLIGHTS
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SOLD
Total Size – 180,010 NRSF
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On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the three property self-storage portfolio in Chesapeake, VA, and northern Outer Banks, North Carolina.
The three facilities are located at 3437 Western Branch Blvd., Chesapeake, VA; 4361 The Woods Rd., Kitty Hawk, NC and 209 W Eighth St., Nags Head, NC with annex locations at 2214 and 2230 Lark Ave. The facilities were constructed in 2006, 2004, and 1985 (annex in 1994 and 1989) respectively. The portfolio encompasses 180,010 rentable square feet among 1,472 units. The Chesapeake facility is primarily climate controlled with a limited number of exterior drive-up units, while the Nags Head and Kitty Hawk facilities are primarily drive-up with some interior corridor units and climate control at Kitty Hawk. The Nags Head location includes a one half-acre vehicle parking amenity.
All three properties are ideally located within their respective markets, with Kitty Hawk and Nags Head dominant on the Outer Banks. Physical occupancy across the portfolio is 95%. Competition is nearly non-existent on the Outer Banks and barriers to entry are virtually insurmountable. The nearest competitors sit just over the access bridges to Powells Point and Roanoke Island. The Outer Banks facilities should benefit from unchallenged pricing power.
The Kitty Hawk location sits on a picturesque parcel along The Woods Rd scenic byway in central Kitty Hawk and the physical condition of the facility is excellent. The property is secured by an electronic keypad entry gate, perimeter fencing, video surveillance, and a manager apartment. Physical occupancy is 100% while economic occupancy stands at 98%. Tenant insurance and fee income is minimal. The total rentable area is 36,350 square feet among 260 units on 4.05+/- acres.
The Nags Head facility is central to the town of Nags Head with 72,105 rentable square feet among 545 units and 45 vehicle parking slots. Buildings are of concrete blocks with tilt-up roofs. Physical occupancy is 92% with economic occupancy standing at 88%. Amenities include full perimeter fencing (no security fence at the 2214 Lark St location where buildings are steel with standing seam roofs), electronic keypad controlled gate, video surveillance, and manager
apartment. There is ample runway in ancillary revenue streams.
Western Branch Self Storage in Chesapeake is situated just off of I-664 on Western Branch Blvd, a high traffic commercial corridor dotted with national retailers, car dealers, and restaurant chains. The population within the three-mile trade area is 58,000+ and growing at approximately 1% annually with a median household income of $77,154. The facility is comprised of two, three-story climate-controlled buildings with exterior drive-up units around the perimeter and a limited number of vehicle parking slots. Other amenities include electronic keypad gate entry, perimeter fencing, video surveillance, and a manager apartment. Rental rates are substantially below the average in the market, while the facility is above average grade for the trade area. Physical and
economic occupancies stand at 96% and 94% respectively. As with the two other facilities, tenant insurance income lags substantially
INVESTMENT HIGHLIGHTS
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SOLD
Total Size – 65,950 NRSF
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The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale Self-Storage Opportunity in Cape Coral, FL. To acquire a self-storage facility in the nation’s fastest-growing city, Cape Coral, part of the Cape Coral-Fort Myers, Florida Metropolitan Statistical Area. The Cape Coral Self-Storage Opportunity is highly visible along a primary thoroughfare, encompassed in a surrounding area that boasts all the elements ideal for self-storage, including a record-breaking population surge and a wide array of national retailers. Cash flow can be enhanced upon acquisition by implementing a tenant insurance program and increasing rates to match the market.
Consisting of 65,950 rentable square feet among five buildings, the facility has 414 climate controlled units, 250 non-climate controlled units, ranging from 25 square feet to 200 square feet, and 11 boat/RV spaces and 45 parking spaces for a total of 709 units. To ensure secure self storage is perimeter-wide fencing, video surveillance, individual unit alarms and a gated entry and exit with keypad access. The facility is also a U-Haul neighborhood dealer, offering truck rentals for the surrounding communities. Overall, the subject features physical and economic occupancies of 93 percent and 62 percent, respectively.
Prominently situated on five acres, the Cape Coral Self-Storage Opportunity has excellent frontage on State Road 78, known as Pine Island Road, which sees traffic counts of over 42,000 vehicles daily. The facility is also in proximity to U.S. Highway 41 and Interstate 75 at 4.9-mile and 10.8-mile distances. The five-mile radius surrounding the facility is indicative of the city’s recent placement as the fastest-growing in the country with 39,447 individuals and 53,078 households.
To support the surging community are countless national retailers all within an approximate one-mile radius. Shopping centers in the immediate vicinity include the Sam’s Club Shopping Plaza, featuring Sam’s Club and anchors Buffalo Wild Wings and Culver’s, the Santa Barbara Centre, anchored by Publix, Wells Fargo Bank and Taco Bell and Pine Island Marketplace with giants Walmart, Kohl’s, Office Max and Michael’s. In addition to the multitudinous retailers lining Pine Island Road, Cape Coral’s Technical College is 1.2 miles west of the subject.
INVESTMENT HIGHLIGHTS
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SOLD
Total Size – 39,225 NRSF
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”no” min_height=”” hover_type=”none” link=””][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors for the sale of AZ Drive Thru storage.
This third-party managed facility is in Mesa, Arizona, which is one of the fastest-growing cities within Maricopa County. The acquisition will offer steady in-place cash flow, as well as allowing an investor to realize several value-add opportunities.
AZ Drive Thru represents an exceptional opportunity to acquire a rare infill located facility in Mesa comprised of 39,225 net rentable square feet, which includes 364 non-climate units. The property boasts a physical occupancy of 90% while the economic occupancy is 70%, allowing an investor to realize a tremendous amount of upside. The property itself is slightly set back from Southern Ave, positioned in a dense retail corridor that sees 34,900 cars per day and utilizes a very prominent monument sign for excellent visibility. The property utilizes a 24-hour video surveillance system and electronic gating to guarantee secure storage.
The property is ideally located less than a mile east of Loop 101 which sees 245,447 cars per day and sits adjacent to Banner Hospital. Additionally, it is situated on the border of the Fiesta District in Mesa, which is seeing strong revitalization and redevelopment efforts. 220 new apartment units will be added to the northwest corner of Alma School and Southern Ave, about a mile east of AZ Drive Thru and is scheduled to open in early 2022. Additionally, planning is underway for a master plan redevelopment of Fiesta Mall. Furthermore, Mesa has recently adjusted its zoning code making mini-storage a mandatory CUP (Council Use Permit) approval for any parcel intended for ministorage development.
The facility represents an excellent opportunity to acquire a long-established, well-performing, infill-located facility within a revitalizing area of Mesa where the average home price is expected to increase 11% +/- over the next 5 years. AZ Drive Thru offers multiple upsides with opportunities to realize occupancy and rental rate growth as well as being the only self-storage property within a one-mile radius of itself. This facility represents an ideal investment within a growth market
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The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale of two properties located in Burlington, North Carolina.” description=”” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”#003865″ background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”20px” padding_bottom=”0px” padding_left=”20px” margin_top=”20px” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”custom-property-box-text” id=””]
UNDER CONTRACT
Total Size – 151,735 NRSF
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The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale two properties located in Burlington, North Carolina. The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of two properties located in Burlington, North Carolina.
Take advantage of a rare opportunity to invest in two established self-storage properties in a growing North Carolina city, just minutes from one of the Southeast’s most esteemed private universities. Both facilities were built in 1991 and deliver a mix of climate-controlled units, non-climate-controlled units, and parking units. Together, the facilities offer a combined total of 151,735 NRSF.
What’s more, each location is conveniently situated within the city of Burlington. The Harden St property is located near a townhome development with easy access to I-85/I-40. Similarly, the Mebane St location is surrounded by apartment complexes and located less than 10 minutes from Elon University. Burlington currently has a population of 53,063, making it the 17th largest city in North Carolina. Here, residents enjoy an affordable cost of living that tracks about 12% lower than the national average. For this reason, the city has seen consistent population growth over the past few years. Job growth has also been outpacing the national average; the city is bolstered by burgeoning industries, like bioscience, with LabCorp being a major employer.
For these reasons, this sale presents an exclusive opportunity for an investor to acquire two established businesses located in a solid Southeastern market where self-storage is in constant demand.
INVESTMENT HIGHLIGHTS
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The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale of Doug Fir located in Springfield, OR.” description=”” margin_top=”” margin_bottom=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_image_id=”” background_color=”#003865″ background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”20px” padding_bottom=”0px” padding_left=”20px” margin_top=”20px” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”custom-property-box-text” id=””]
SOLD
Total Size – 72,600 NRSF
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The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale Doug Fir Storage. DougFir Storage is a newly completed, Class A facility, comprised of 486 units over 72,600 rentable square feet on approximately 2.91 acres of land. The facility offers single-story, drive-up configuration with an average unit size of 150 SF. It includes 169 interior units, 101 interior heated units, and 216 drive-up units. DougFir Storage has been leasing quickly since opening in late 2020 and is expected to be nearly 50% occupied upon the seller’s desired closing in November 2021.
The property is located in a high traffic corridor with over 23,000 vehicles passing the facility daily. The Eugene-Springfield MSA, located along Interstate-5, is the 3rd largest metro in Oregon with over 381,000 residents. Within a 5-mile radius of DougFir Storage, the population is 79,179. The Eugene Airport (EUG) is served by six airlines that offer direct flights from many major cities including Los Angeles, Chicago, Denver, and Dallas.
Design features include a leasing office and apartment. Additionally, the property can operate on a near-autonomous basis with an iPad-driven self-check-in area and Divinci locks. DougFir Storage allows an investor the ability to acquire a newly built, state-of-the-art, Class A self-storage asset below stabilized value. The facility’s new construction and premium quality combined with its location in a fast-growing Pacific Northwest MSA make this an ideal value add investment opportunity. Solana Beach Storage is located in the incredibly affluent coastal San Diego County community of Solana Beach. Within 5 miles of the subject property, average household incomes exceed $185,500 with average home prices over $1,400,000.
INVESTMENT HIGHLIGHTS
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Market Bid
Total Size – 83,086 NRSF
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