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The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale of Infill core NJ/NY Portfolio in New York & New Jersey.” 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 AGREEMENT
Total Size – 475,033 NRSF
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Cushman & Wakefield has been selected to exclusively market the sale of the Infill Core NJ/NY Portfolio. This opportunity presents the unique opportunity to obtain four newly constructed Class A, infill facilities just outside the Metro New York City market. 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 Kearny, Staten Island, Piscataway, and Somerset provides the ability to capitalize on this new normal. With two properties open for business and Staten Island and Somerset delivering in 3Q 2021 the portfolio provides over 22 acres with 5,312 units and 475,033 Net Rentable Square Feet in one of the nation’s most high barrier to entry markets, minutes from New York City.
INVESTMENT HIGHLIGHTS
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SOLD
Total NRSF – 122,812NRSF
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THE SELF-STORAGE ADVISORY GROUP OF CUSHMAN & WAKEFIELD HAS BEEN SELECTED TO EXCLUSIVELY MARKET THE TWO PROPERTY CUBESMART MANAGED SELF STORAGE PORTFOLIO OPPORTUNITY IN THE PHOENIX, MSA. This Infill Self-Storage portfolio represents an incredible opportunity to maximize a footprint within the highly sought-after Phoenix MSA market. The portfolio consists of 122,812 net rentable square feet that stretch over a total of 1,249 units. Each location is complimented with strong population densities with the Cinnabar seeing 102,538 people within a three-mile radius while the Glendale facility boasts a three-mile population of 202,528. Both locations offer premium access to major thoroughfares. With the Glendale and Cinnabar locations seeing drive-by traffic of 45,733 and 22,763 respectively, the direct visibility and frontage allows for maximum exposure.
Both locations offer ample room to realize increased cashflow. Cinnabar, which opened in 1985 and includes an expansion completed in 2020, currently sits at 86.8% physical and 63.67% economic occupancies. The Glendale location follows the same trend at 89.4% physically and 73.09% economically occupied. Across the portfolio, an investor can take advantage of the upside presented allowing for additional income.
The portfolio represents an excellent opportunity to acquire two unique, infill-located facilities and gain a significant footprint within the consistently growing Phoenix MSA. Each property delivers strong fundamentals which include but aren’t limited to strong populations, drive-up style construction, and irreplaceable locations allowing for the ability to reap the rewards of this
investment for years to come.
[/fusion_text][fusion_button link=”https://my.rcm1.com/handler/modern.aspx?pv=jbwQgKCRsDlMLSusr2Xrl35qWFuFgUslAvzmiZZ-nuSdMMQcUG_yW2LDBky30mD-PYQ2xeK5inrjEw16-DvNfQ” text_transform=”” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”” stretch=”default” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Click Here to View Offering Memorandum and Reports[/fusion_button][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_code]<iframe src=https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3324.116326521908!2d-112.05812948479733!3d33.57632883073805!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x872b6d826646b95f%3A0xb7f7f578ba4f8dc0!2s1201%20E%20Cinnabar%20Ave%2C%20Phoenix%2C%20AZ%2085020!5e0!3m2!1sen!2sus!4v1605906983461!5m2!1sen!2sus width=100% height=600 frameborder=0 style=border:0 allowfullscreen></iframe>
<iframe src=https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3325.5768532104266!2d-112.10486238479838!3d33.538385680748846!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x872b6cdbc8733ff3%3A0x894a8f8972e414e2!2s2019%20W%20Glendale%20Ave%2C%20Phoenix%2C%20AZ%2085021!5e0!3m2!1sen!2sus width=100% height=600 frameborder=0 style=border:0 allowfullscreen></iframe>[/fusion_code][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
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SOLD
NRSF – 139,530
3500 Commission Ct. Woodbridge, VA 22192
2401 Build America Dr. Hampton, VA 23666
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On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the two property Atlantic Self Storage Portfolio, located at 3500 Commission Ct., Woodbridge, VA, and 2401 Build America Dr., Hampton, VA. The Woodbridge facility was constructed in 1985, while the Hampton facility was built in 1984. They feature attractive embellished block and tilt-up concrete construction with standing seam roofs, full perimeter fencing, electronic gate access, video surveillance, and manager apartment at the Woodbridge location.
The Hampton property benefits from exposure and signage on I-64, a high-traffic interstate linking the coastal sections of Virginia with the interior of the state. The portfolio is comprised of 139,530 rentable square feet among 1,095 units, mostly drive up with a limited number of interior corridor units. Occupancy at both locations is below average in their markets with Woodbridge at 80% and Hampton at 87% while economic occupancy stands at 73% and 74% respectively. Rental rates at both locations are also below average, indicating a substantial opportunity to grow revenue.
The facilities have been family-owned and operated for 36 years. Woodbridge, VA is a bedroom community within the Washington, D.C. MSA. Median household income within 3 miles of the facility stands at $101,564 among a current population of 75,021. Population growth is just below 1% annually and accelerating. Within three miles of the Hampton property, median household income is $50,625 with a population of 80,500. With access from Mercury Blvd, the facility benefits from its position on a main commercial thoroughfare with high visibility from the interstate. The successful purchaser will benefit from substantial runway in occupancy, revenue management, and rental rate adjustments which will produce superior returns in the near and long term. The portfolio is offered at $18,575,000.
OFFERING HIGHLIGHTS
• Below Market Rates at Both Locations
• Highly Durable and Attractive Embellished Block Construction
• Superb Physical Condition
• Outstanding Demographic Profiles
• Well Located Properties Within Their Trade Areas
• Substantial Revenue Growth Opportunities
• Highly Desirable Drive-Up Units
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NRSF – 45,782
307 W Reynolds Ave, Centralia, WA 98531
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Cushman & Wakefield’s Self-Storage Advisory Group is pleased to offer the opportunity to acquire Centralia Self Storage. The offering is an investment grade
45,782 net rentable square foot self-storage facility located on 3.29-acre parcel in Centralia, WA. The fully secure facility offers 368 units of drive-up self-storage, interior units, vehicle parking, and a fully equipped rental office with live-in manager’s apartment. The over 85% economic occupancy the facility offers makes Central Self Storage a safe-harbor investment in a growing logistics hub town strategically located in between Portland and Seattle. Centralia Self Storage is located at a busy crossroads that serves as one of the main thoroughfares of the community. The 10,000 cars per day street functions as a junction between the twin cities of Centralia & Chehalis connecting the residential centers with I-5 and industrial center. The site is situated across the street from a Dollar General and is better positioned than the competition to serve the residential section of the city. The surrounding population boasts an average household income of approximately $70,000 per year with a high percentage of renters. The combination of main street road visibility and proximity to the population will continue to make the offering a stable performer. The facility offers the opportunity to own a staple rent estate asset in a growing community. The facility offers a year 3 cash on cash of 10.3% and a 5 year IRR of 20.2% with market-rate financing. The facility recently had new roofs installed and siding replaced which keeping future maintenance costs down. The asset is well-positioned to perform, producing consistent yields for the foreseeable future.
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SOLD
NRSF – 170,785
640 N Black Horse Pike, Williamstown, NJ
641 Lancaster Ave, Frazer, PA
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The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market the Philadelphia MSA Portfolio opportunity in
Frazer, PA, and Williamstown, NJ. The two properties represent a well-maintained storage portfolio comprised of 170,920 rentable square feet on approximately 21.31 acres of land. The facilities total 200 climate-controlled units, 975 non-climate controlled drive-up units, 47 offices, 12 mailbox units, and 37 parking spaces for a total of 1,271 units. Both properties offer a wide variety of premium options to accommodate the affluent population in the Philadelphia MSA.
The Frazer, PA facility offers amenities such as around-the-clock video recording, well-lit premises, and an on-site resident manager providing customers better peace of mind when booking a rental here. Additionally, there is a projected annual growth rate of 1.7 percent over the next several years, surpassing the national average. The property is perfectly located in the suburbs of Philadelphia which is a desirable component of East Whiteland Township. This facility benefits from a prosperous annual median household income exceeding $79,000 within three miles. The facility sits on Route 202 and Highway 30 “Lancaster Ave” offering prime visibility from Interstate; these thoroughfares witness traffic counts of over 71,953 and 16,053 vehicles per day, respectively. Lancaster Avenue has an expansion potential to add an additional 9,800SF of climate-controlled units. The Frazer property is located approximately three miles north of Exton Square and eleven miles west of King of Prussia, one of the largest shopping malls in the United States, as well as being encompassed by several national retailers and shopping centers, drawing consistent traffic into the vicinity. Driving the median income is 100K+ in Frazer Township. Chester County is a prominent district of the Philadelphia Metropolitan Area and is ideally situated about 30 minutes from downtown Philadelphia.
The Williamstown, NJ located in the Township of Monroe and is strategically positioned between I-295; Routes 55, 47, & 40; the AC Expressway; and the NJ Turnpike making this property centrally located between Philadelphia and Atlantic City. This property is located just off Black Horse Pike, a major thoroughfare, that offers high visibility and has excellent physical and economic occupancies of 93 percent and 63 percent, respectively. This property offers immediate expansion potential with obtained approval through the county for an additional 32,150 NRSF of climate-controlled and drive-up units. The
facility benefits from an excellent average household income exceeding $100,000 annually, far surpassing the national average. To ensure secure storage, the
property utilizes around-the-clock video recording and bright lighting This opportunity allows an investor the ability to acquire two physically stabilized storage assets with several avenues for upside in the thriving Philadelphia MSA market. These properties have room to grow their rents in addition to having economic occupancies much lower than physical.
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<iframe src=https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3054.7771811155767!2d-75.58329868461563!3d40.03575397941119!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x89c6f323cc1289af%3A0xdb8a568c756dd88c!2s641%20Lancaster%20Ave%2C%20Frazer%2C%20PA%2019355!5e0!3m2!1sen!2sus!4v1613740900667!5m2!1sen!2sus width=100% height=600 frameborder=0 style=border:0 allowfullscreen></iframe>[/fusion_code][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
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SOLD
Total NRSF – 75,386
1919 East Ray Rd, Chandler, AZ 85225
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The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors for the sale of Dense Infill Self-Storage in Chandler, AZ. This third-party managed facility is located in Chandler, Arizona which is one of the most desirable 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.
INVESTMENT OVERVIEW SIGNIFICANT MARKET FOOTPRINT
Situated just off the hard corner of N Cooper Rd and E Ray Rd in Chandler, the property boasts impeccable visibility along with high traffic counts and has delivered consistent stabilized physical occupancies offering an investor the opportunity to gain a foothold in the increasingly competitive Southwest United States storage market.
CAPITALIZE ON UPSIDE OPPORTUNITIES
There are several opportunities for revenue growth at this location. At 75,386 rentable square feet, the facility benefits from high physical occupancy of 96.3 percent.
LIMITED COMPETITION
Uniquely located at a lighted intersection with a 52,000 traffic count its facility is the only storage option in a one-mile ring and no other Class A competitor in a two-mile drive.
ONE OF A KIND LOCATION
This ideal location in the dense downtown of Chandler, AZ has a high barrier of entry for any competitor due to the lack of undeveloped land. Along with its high traffic volumes of Cooper Road (AADT 22,861) and Ray Road (AADT 29,827).
[/fusion_text][fusion_button link=”https://my.rcm1.com/handler/modern.aspx?pv=K9j-G55udIFTdDBpsz_HHJe7Bkap4GJrpbf25Tqn3Wt_iUm3T0jMyv-KTSc_fmelFBC0tXFXL8Wk-ARPuy5sTw” text_transform=”” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”” stretch=”default” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Click Here to View Offering Memorandum and Reports[/fusion_button][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_code]<iframe src=https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3069.9553624818627!2d-74.99970458462583!3d39.69570757945557!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x89c6d51df83752c3%3A0x49689ea4441c630b!2s640%20N%20Black%20Horse%20Pike%2C%20Williamstown%2C%20NJ%2008094!5e0!3m2!1sen!2sus!4v1613688651234!5m2!1sen!2sus width=100% height=600 frameborder=0 style=border:0 allowfullscreen></iframe>[/fusion_code][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
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SOLD
Total NRSF – 219,522
[/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 to offer for sale of Class A, Institutional Quality Self Storage Portfolio with locations in Florida. This portfolio offers best-in-class assets, premium locations, unique architectural designs with locations in the core, high-growth Southeast markets. The portfolio is in three rapidly growing suburban markets in Florida and offers an investor the unique opportunity to profit and gain immediate scale in the rapidly expanding Southeast region of the United States The portfolio’s aggressive lease-up has revealed the unmet storage demand in these prime markets, allowing a future investor to significantly increase value as these assets stabilize in growth positive population zones.
The Celebration property is ideally located at the gateway to the Orlando MSA, taking advantage of the rapid growth of the I4 Corridor. With attention to architectural details, not common to the storage sector, this asset stands out as a best-in-class asset in Central Florida.
The Palm Beach Gardens property is located in the prestigious West Palm Beach MSA, this facility is a Class A, Institutional Quality Self Storage Portfoliolocated in the highly desirable PBG submarket which has incredibly high barriers to entry.
Investment Highlights:
[/fusion_text][fusion_button link=”https://my.rcm1.com/handler/modern.aspx?pv=LzAP97W7Vf8ABeM9cUmnxzXjr8ato6XkGnEWIzvjpaZXDHPYZ2FCJF8acaIyOYSaRq6QWKjUDuSvG81xEq2d7w” text_transform=”” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”” stretch=”default” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Click Here to View Offering Memorandum and Reports[/fusion_button][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][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_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” 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_code][/fusion_code][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
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SOLD
NRSF – 56,429
1125 Jupiter Park Drive
Jupiter, FL 33458
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The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of the Jupiter Self-Storage Opportunity. This 56,429 square-foot facility is located on 2.4 acres of land in Jupiter, FL. Built in 1998, the building offers 869 climate-controlled, rentable units equipped with a host of other premium features including 24- hour security monitoring, seven-day access, and RV storage options. The subject property is optimally situated within the densely populated suburban neighborhoods of Jupiter. This affluent community is home to 63.6K residents with an impressive median income of $82,543 and
is part of Palm Beach County, Florida’s wealthiest county. The facility is just a short drive from West Palm Beach, Delray Beach, and Fort Lauderdale. What’s more, the prime location (just off of I-95) provides quick and easy access for current and potential tenants while garnering impressions from up to 220,000 passing motorists every single day. Due to Jupiter’s fast-growing population driving self-storage demand, building occupancy for this property is currently on an upward trajectory. As a whole, the self-storage industry has experienced significant growth over the past fourth months with rental rates steadily increasing. For these reasons, the Jupiter Self-Storage Opportunity allows an investor to acquire an established self-storage asset with value-add components in one of South Florida’s wealthiest and most esteemed regions. The facility has a current physical occupancy of 71.1 percent and an economic occupancy of 51.47 percent. With operating expenses averaging between $429,224 – 494,072, one could expect an effective gross income of up to $1,212,860 and a net operating income up to $718,787. However, in this fast-growing, high-net-worth market, a savvy investor is poised to easily improve economic occupancy to further solidify the subject’s presence and profitability.
Investment Highlights:
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SOLD
NRSF – 81,529
7618 Marlboro Pike District Heights, MD
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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 District Heights, Maryland. It is anticipated that the sale will close upon or after receipt of the Certificate of Occupancy from Prince Georges County. Currently, C of O is projected in February 2021. Located at 7618 Marlboro Pike, the 3.21 acre, new ground-up development is comprised of 81,529 rentable square feet among 900 units, all climate controlled. Units range from 25 to 300 square feet on three levels and are served by two freight rated elevators, while a state of the art management office is located on the ground level. The facility will include full video surveillance, electronic keypad ingress and egress, individually alarmed units, and free ice cream! One of the fastest-growing sub-markets within the fastest growing county in the Washington, DC MSA, convenient to Joint Base Andrews, National Harbor, and Washington, DC, District Heights is located just inside the Capital Beltway, Interstate 495. The facility benefits from premium visibility on Marlboro Pike and Forestville Rd., both high traffic corridors with combined vehicle counts of 53,901. The trade area demographic profile is excellent with above-average density and accelerating growth. Median household income within a three-mile ring is $72,712 among a population of 77,927 with a population growth rate of 1% annually; up from .6% between 2010 and 2020. The five-mile population is 254,676. The property is currently under tax reassessment, with a 10-year abatement in place, as of certificate of occupancy. The abatement schedule is flat for years one through five at 80% abatement, decreasing 1,000 basis points (10%) each year in years five through ten. The successful purchaser will benefit from reduced taxes, reliable lease-up at high rental rates, above-average market growth, and continued long term appreciation in major market class A assets.
Investment Highlights:
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