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Price: Market Bid

NRSF: 26,950

UNDER AGREEMENT

[/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 Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of a property located in the Tampa Bay metro area.

Seize the opportunity to acquire an established selfstorage property in the fast-growing Tampa Bay metro area. New residents are flocking to the Bay area due to job growth in higher-paying professional and business services. As a result, these business expansions are spurring impressive economic growth in Tampa. The local economy is worth over $130 billion, and the metro area is third fastest growing in Florida.

The self-storage facility listed in this sale is located in the northern part of the metro area along the busy State Road 52, which sees up to 32,500 vehicles each day. A large Publix, several restaurants and a high school are closeby. Completed in 1979, the well-maintained, 26,950 square-foot structure easily accommodates Tampa Bay’s growing population with 164 rentable units. Physical occupancy is currently 98.7% / 95.8% with economic occupancy at 81.15%.

All told, this sale presents a rare opportunity for a savvy investor to acquire an established business in a sought-after area where self-storage demand remains constant as the metro area expands at a record rate.

INVESTMENT HIGHLIGHTS

• Established business serving the bustling Tampa Bay metro area—the third fastest-growing metro area in Florida.
• Clean, well-maintained structure located along the busy State Road 52.
• 26,950 square-foot facility on 10.2-acre lot.
• 164 total rentable units available:
  • 39 Drive-up
  •  9 Retail
• 116 Parking
• Physical occupancy is 98.7% / 95.8% while economic occupancy is 81.15%

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Price: Market Bid

NRSF: 81,977

OFFERS DUE: 10/11/2022

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Take advantage of the rare opportunity to invest in a long-standing self-storage property located in the fast-growing Miami metro area. Altogether, the Miami metro is home to nearly 6.2 million residents, which is a 19.73% increase since the 2010 census.

Less than an hour north of Miami lies Aventura. Aventura is considered one of the best places to buy real estate in the Miami-Dade metro area, as it is a residential environment ideal for families that is close to beautiful beaches. The city is renowned for its sleek, high-rise condos and as the home to the third-largest shopping mall in the nation.

The property listed for sale is located at 19301 W Dixie Hwy next to Bed, Bath & Beyond and across from Aventura Mall. 198,018 residents live within a three-mile radius. In this affluent area, the median household income is $74,281 within a one-mile radius.

Built in 2019, the 81,977 square-foot facility hosts 1051 units. Tenants benefit from modern conveniences like 24-hour building access and climate-controlled units to protect against sweltering South Florida heat. Personal belongings are protected by around-the-clock security surveillance. Physical occupancy is 89.8% / 88.5% while economic occupancy is at 62.12%.

As the densely populated city of Miami continues to expand, its surrounding suburbs are poised for continuous growth. For a savvy investor, this self-storage opportunity allows an investor to acquire an established business in the booming South Florida region.

INVESTMENT HIGHLIGHTS

• Property is conveniently situated within Miami, one of the nation’s fastest-growing metropolitan areas with a population nearing 6.2 million.
• Optimal location at 19301 W Dixie Hwy across from the Aventura Mall.
• The median household income is $74,281 within a one-mile radius.
• The 81,977 square-foot facility is equipped with 1051 rentable units, including climate-controlled options.
• Property is protected by a 24-hour security system.

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Market Bid

NRSF – 70,281

Phoenix, AZ

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This 70,281 net rentable square foot facility includes 517 climate-controlled first-floor units and 18 climate-controlled drive-up units totaling 535 units, as well as 4 RV & boat parking spaces with gated access. It includes premium features including gated access, 24/7 surveillance, and a drive thru loading area.

The 3-mile trade area boasts a dense population of 152,254 people with strong growth trends benefitting from recent migration trends. Located at the intersection of W Greenway Rd and N 35th Ave, the facility has exceptional visibility with approximately 64,000 annual average daily traffic volume. The facility is also located in close proximity to many fast-food restaurants, grocery stores, and retail locations, as well as easy access to Interstate 17.

With physical occupancy at 90% and economic occupancy at 55%, the strong migration trends provide ample opportunity for revenue growth and rate increases as Phoenix continues to be one of the fastest-growing metros. This facility also boasts an impressive in-place net operating income of just under $1MM.

INVESTMENT HIGHLIGHTS

• Densely populated 3-mile trade area with a population of 152,254
• Located in one of the fastest-growing metros
• Easy access to Interstate 17
• High physical occupancy with the opportunity to raise rents
• Exceptional visibility with approximately 60,582 annual average daily traffic volume
• Strong cash flow of just under $1 MM
• Built with industry-leading drive-thru for ease of access

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Price: Marked Bid
NRSF – 59,438

Jamul, CA

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This offering presents a rare opportunity to acquire a newly developed, class A quality self-storage project in the highly sought-after market of San Diego County. The project is located in the East County community of Jamul – a high-end, high-income suburb with a median household income of $151,435 within a 3-mile radius.

Built in 2021, the 59,438 square-foot project has an excellent mix of drive-up units as well as rare, high bay indoor RV & Boat parking units. Approximately 63% of the total square feet of the project offers drive-up access with those units at 97.8% occupancy after only 8 months of leasing. The store has seen tremendous leasing activity since delivery in December 2021 with physical occupancy at 72.4% (by units) as of the end of August 2022. With physical occupancy nearing stabilization and economic occupancy at 60%, this project provides a tremendous opportunity to immediately and aggressively raise rental rates driving value-add type returns.

INVESTMENT HIGHLIGHTS

• New class A construction, opened in December 2021
• 72.4% occupied after only 8 months of leasing
• All ground level units with 63% of space offering drive-up access
• Opportunity to convert large, interior units to smaller sizes driving rent per SF
• Located in Jamul, CA; a San Diego suburb with a median income of $151,435
• Tremendous upside in rental rates and economic occupancy

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Price: Market Bid

NRSF: 772,940

UNDER AGREEMENT

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The Wittmann RV and Boat Storage entitled land offering represents the rare opportunity to acquire a fully entitled RV development with no other developed RV facilities within a 5-mile radius. The facility, located just north west of Surprise, AZ and Sun City West, when completed will deliver 722,940 sf of RV and Boat parking within a county that is severely underserved regarding RV parking. Through a two-year approval process, the current owners strategically entitled this specific property because of its half-mile long frontage on Route 60, which is one of the most heavily traveled roadways in Maricopa County, seeing 23,000+ cars per day. In addition to the incredibly visibility, Route 60 is one of the major roadways that provides access to both the Lake Pleasant and Lake Havasu vacation destinations as well as direct access to the rapidly growing Wickenburg market.

At completion this Class-A facility will boast a total of 1,305 RV units across 35.56 acres making it one of the largest RV parking sites in Arizona. With a mix of both uncovered and covered spaces, the plans include amenities such as trickle charge, a dog run, a RV wash and propane just to name a few. Access to the property is extremely efficient allowing both the east and west bound traffic to have the ability to enter into the facility without a lighted intersection. Well-positioned in a market where the household average income within a 5-mile is $104,251 the property benefits from its proximity to both Surprise, AZ with a population of 139,700 (2020) and Sun City West, Arizona’s premier adult golf retirement community. Interstate 11 is a proposed highway, which, when completed, will connect Nogales to Las Vegas with the first phase slated to end in Wickenburg. There are a number of additional developments proposed within the direct vicinity of Wittman RV. Burlington Northern is a 3,508 acre site, directly across from Wittmann RV, that was recently purchase by BNSF railway. Plans for that property will potentially be an intermodal shipping facility and rail hub. Walden Ranch, which is a site situated about a half mile to the west of the property is proposed for 1,500 homes and will have access to and from the Wittmann RV off of Gordon Way.

With minimal competition within a dramatically growing region, Wittmann RV and Boat Storage presents an investor with the ability to acquire a fully-entitled, shovel ready project with expansive growth potential. With market leading amenities, half-mile frontage on Route 60 and the ability to set strong rates from day-1, Wittman RV is poised to provide an owner with exception returns by acquiring a product with tremendous lease up potential.

INVESTMENT HIGHLIGHTS

• 722,940 NRSF of Boat & RV Storage to underserved market
• Great visibility from W Grand Ave (23,602 AADT)
• 31,935 homes sites planned within 5 miles of property
• 1500 homes planned with a quarter mile in Walden Ranch
• Burlington Northern purchased 3,508 acres for a potential rail hub near property
• Taiwan Semiconductor Manufacturing Co. investing$12B on 1,129 acres near the facility projecting 2000 employees working at the plant

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