Recent Sales Archives - Page 6 of 23 - Cushman & WakefieldCushman & Wakefield

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SOLD

NRSF – 72,475

This offering presents investors with an opportunity to obtain a newly constructed Class A, facility within the Richmond, VA MSA. The asset provides over 72,000 Net Rentable Square Feet in a Dynamic Richmond MSA Submarket supported by Fort Lee Military Base. As of the date of publication, the facility is 70% physical occupied at favorable rental rates.

This REIT Managed Fort Lee Self Storage is a three-story, Class A storage asset in Hopewell, Virginia currently in its final phase of lease-up. The facility, located at 4017 Old Woodlawn Street, Hopewell, Virginia offers 72,475 net rentable square feet among 730 units and 29 parking spaces. The facility, which opened November 2019, is strategically located in close proximity to Fort Lee Military Base with immediate access to Interstate 295.

The REIT Managed Fort Lee Self Storage offers tenants a wide variety of premium climate controlled and non-climate units with easy access via a covered loading area. As of the date of publication, and after only 27 months, the asset is 70% physically occupied and 50% economically occupied. The expeditious lease up demonstrates high storage demand in this sub-market. This opportunity to acquire a brand-new storage asset within its final phase of lease-up, allows an investor the ability to capitalize on superior returns upon stabilization.

Investment Highlights:

Class A Institutional Asset
3-Miles from Fort Lee Military Base
No new supply within a 5 mile radius
Superior returns upon stabilization
Best in Class Asset within Extended Trade Area
Favorable Virginia Property Taxes

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SOLD

NRSF – 174,715

Consisting of an aggregate 174,715 rentable square feet of storage, the portfolio represents an opportunity to gain substantial presence in two of suburban Baltimore’s most prestigious and sought after sub-markets. Offering both climate controlled, standard drive up and vehicle storage, both locations are well positioned to serve their respective customer base.

The Pikesville property, at 1315 Greenwood Rd., Pikesville, Maryland, is tucked within a dense residential enclave of upscale homes, with three mile population of 110,515 enjoying a median household income of $90,382. Current supply within the trade area totals 4.11 square feet per capita. Barriers to entry in the subject submarket are almost insurmountable, with no land zoned appropriately for further storage development. This drive through facility offers climate controlled units, standard drive-up and indoor vehicle storage, while a commercial tenant occupies 32,000sf +/- of a total 209,053 gross square feet. Remaining space allocation is 84,290 climate controlled storage, 34,000sf dedicated to indoor vehicle storage with 88 car/boat spaces and 10 motorcycle spaces. Currently under development is an additional 13,900 square feet of standard drive-up units with delivery (CO) expected Q2. Given the high barriers to entry and the lack of competition in this submarket, there is consideration to convert the commercially leased space to climate controlled storage which would yield an additional 22,400 +|~ NRSF.Other property amenities include full perimeter fencing; electronically secure ingress/egress; full video surveillance; drive through indoor loading and unloading; state of the art office and convenient location within trade area. The property also benefits from a 10 year state tax abatement program.

The Baltimore asset, located at 707 S Caton Ave., is ideally positioned along a busy commuter route, .6 mile from the I-95 interchange on Caton Ave. More than 26,500 vehicles pass the facility daily. The property offers drive-up standard, drive-up climate controlled and interior corridor climate controlled units among 76,625 rentable square feet and 737 units. All units offer ground floor access. Population within the three mile trade area is 190,995 with a median household income of $53,324. Current supply stands at 4.7 feet per capita within three miles. While there is an additional one square foot/person in various stages of development, all planned facilities within the three mile ring are outside the subject’s effective trade area and are concentrated in the downtown Baltimore submarket. Twelve month average rental rates within the trade area are approximately $23.40psf. The property will benefit from a state tax abatement program for the next eight years.

The successful buyer will realize superior returns through powerful pricing leverage in two undersupplied markets. Barriers to entry within the Pikesville market will translate into unchallenged pricing, while the Caton Avenue location will achieve superior pricing as the best in class asset within the trade area.

Investment Highlights:

Two Property Suburban Baltimore, Maryland Portfolio in Prime Locations
High Visibility / Easy Access
Class A Assets
Outstanding Demographic Profiles
High Barriers to Entry – Substantial Pricing Power
Excellent Market Rental Rates
Tax Abatements

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SOLD

NRSF: 71,050

Take advantage of the opportunity to invest in an established self-storage property in the nation’s third most populous city: Chicago. The combined statistical area, often called Chicagoland, is home to 10 million residents and is bolstered by one of the of the world’s most diverse economies. The property is located in the more affluent north side, with a median household income of $106k within a 1-mile radius. Boasting a prime location near one of the North Side’s major shopping areas, this self-storage facility is located near Costco, Walmart and Target. Built in 2018, the 71,050 square-foot, modern structure hosts 872 climate controlled units to protect personal belongings throughout the Midwest’s seasonal temperature extremes. What’s more, the facility is safeguarded with 24/7 video surveillance.

For these reasons, the Chicago Self-Storage Opportunity allows a savvy investor to acquire a new business in an incredibly affluent urban area where space is limited—and thus self-storage remains in constant demand.

INVESTMENT HIGHLIGHTS

Located at a popular shopping area in Chicago’s North Side; $106K median household income within a one-mile radius.
Prime location next to Costco and other major retailers.
Established facility completed in 2018.
The 71,050 square-foot facility is equipped with 872 climate-controlled rental units.
Facility is protected by state-of-the-art security features, including 24/7 video recording.
Physical occupancy is 80.4%/68.2% while economic occupancy is currently 47.5%.
Significant lease up potential available for Mailbox/Locker units.

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SOLD

NRSF: 40,715

The Key West Self-Storage Opportunity is a Class A, trophy asset, completed in February 2022. The opportunity includes 40,715 net rentable square feet facility across 311 climate-controlled and 53 non-climate units, as well as a large open rental office. The Facility will be ready to open in March 2022 and will offer its tenants modern conveniences such as climate-controlled units, video surveillance and electronic gate access, online booking and reservation, and free use of moving equipment.

The facility is well located off Highway US 1 in Key West, Florida, just minutes from the Key West Historic District and Duval Street. The 7-mile strip is home to just under 25,000 people with the average household income at approximately $98,000.

As the Sunbelt continues to expand due to current and expected U.S. migration trends, this asset is expected to generate strong demand and lease-up at an impressive rate. This opportunity represents a unique opportunity to acquire a trophy self-storage asset in the Florida Keys.

INVESTMENT HIGHLIGHTS

A brand new, purpose-built facility which will feature modern conveniences for its customers. The facility is constructed out of CMU block walls secured in all 4 corners by helical piers. This makes the building rock solid in wind as opposed to some other wood or steel structures that buckle under wind loads.
High barrier-to-entry market with limited existing supply and future development opportunities.
High-growth market with strong tailwinds.
Well located off US Highway 1 and less than 7 miles driving distance from the Key West International Airport.
Over the last year, interest in investing in real estate in small towns and places like the Florida Keys has grown tremendously. Many people are fleeing the high-tax, high-stress northern states, attracted to the tropical island dream.

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SOLD

NRSF: 366,999

The ClearHome Self-Storage Portfolio of Milwaukee is comprised of four Class-A properties that consist of a total of 2,639 drive-up and multistory climate-controlled units, with over 366,999 nrsf. The portfolio offers an investor the opportunity to significantly increase returns day one by recognizing the multitude
of value-add opportunities that this portfolio delivers. Together, the four locations, Doral Rd, West Burnham St, West Cleveland Ave, and W Good Hope, provide immediate scale within a submarket where each property sees only one or no competitors within their respective 1-mile competitive radius.

All four locations are strategically located within a 30-mile drive from each other allowing for ease of management and provides the opportunity to implement a growth model to increase the below market rents that are seen at each of the locations. Completed in 2018, 2014, and 2002, these well-maintained facilities offer convenient drive-up storage, climate-controlled units, and more. Burnham St, Clevaland Ave and W Good Hope Rd offer supply metrics of less than 6 ft per capita while Doral Rd boast a median household income greater than $87K.

The ClearHome Self-Storage Portfolio of Milwaukee provides a buyer with the rare opportunity for immediate scale within regions that are seeing limited new supply added to their markets. Three out of the four sites consist of a strong mix of Climate and Non-Climate units while the fourth facility, W Cleveland Ave, presents an all climate-controlled opportunity with the potential for expansion on the 30K sf of land that fronts the facility. Significant rate growth and management upside can be realized at each of the facilities providing a buyer with strong increases to their short-term cash flow as well as long-term returns.

INVESTMENT HIGHLIGHTS

Four established businesses serve the Milwaukee metro areas; home to more than 1.5 million residents
Coded gate systems and video surveillance protect the facilities
Limited competition within their respective 1-mile trade areas
Four properties with 30 min driving radius allowing for immediate scale
Significant footprint of 366,999 NRSF
Below market rents equating to strong rate growth
Drive-up and climate-controlled units are available

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SOLD

NRSF: 82,430

Take advantage of an exclusive opportunity to acquire an established storage facility in a growing metropolitan with a median household income of $92,302. Located less than an hour from Philadelphia, Montgomery County is close enough to commute—but strong enough to offer its own robust employment opportunities. Thanks to its central location and ample job growth, Montgomery’s population has increased to 856,553, up 7.1% from 2010.

Situated off of Church Road near the Lansdale School of Business, the North Wales self-storage property offers an array of convenient storage options for the county’s growing population. Completed in 2018, the nearly new facility offers 815 various-sized units throughout 82,430 square feet of space. Climate-controlled options and vehicle storage spaces are available for added convenience. The fenced, well-lit facility is safeguarded with electronic gate access and 24/7 video surveillance.

In total, this sale presents a unique opportunity to secure an optimally located facility in an affluent community where self-storage demand only continues to grow.

INVESTMENT HIGHLIGHTS

Established businesses located in Montgomery County, PA; current population is 856,553.
Facility offers a total of 82,430 square feet of space and 815 rentable units.
Convenient location off of Church Road, close to schools and apartment complexes.
Climate-controlled, drive-up, and vehicle parking available.
Facility is protected by electronic gate access and video surveillance.
Recent expansion completed in December 2021.

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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/2022/02/Drone.3879AdamsSt_008-300×200.jpg” image_id=”5127|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2022/02/Drone.2255ChampaSt_011-300×200.jpg” image_id=”5128|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2022/02/Drone.900GrantSt_015-300×200.jpg” image_id=”5129|medium” link=”” linktarget=”_self” alt=”” /][fusion_image image=”http://cushwakeselfstorage.com/wp-content/uploads/2022/02/Drone.4170TowerRd_022-300×200.jpg” image_id=”5130|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 the Stash Self-Storage Portfolio located in the heart of Denver.” 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

NRSF: 227,985

The Stash Self-Storage Portfolio of Denver is comprised of four, Class-A, best-in-market facilities, totaling 2,901 units and over 227,000 nrsf. The four locations, Champa St, Adams Street, North Tower Rd and Grant St, represents an extremely rare opportunity to acquire four strong performing assets that sit within a half hour drive of each other allowing an investor to realize immediate scale within a high barrier to entry market – Each site offers exceptional supply/demand characteristics, incredible management and rent upside and irreplaceable locations.

Three of the four locations reside within the downtown Denver market, south of I-70 and east of I-25, and conveniently sit on highly visible thoroughfares which correlates to easily accessible properties. The portfolio is surrounded by institutional grade multifamily developments owned by companies including, but not limited to, Brookfield Partners, PMG, Wood Partners, Hines, etc. This allows for an investor to realize multiple upsides as the market continues to see positive year-over-year growth with the continuous influx of institutional money within the immediate trade area. The Champa St and Grant St locations are situated in a trade area that sees in excess of 230,000 people within their respective 3-miles and less than 5 SF per capita. The three-mile that surrounds the Adams St. facility exceeds 156,000 residents equating to a per capita of less than 7 SF while incomes are north of $75,000. Additionally, both Champa and Adams Streets offer ancillary retail locations on their respective first floors which will provide additional upside complimenting the already in-place cash flow. The North Tower Rd facility sits just east of Downtown and serves the Green Valley Ranch Development. This single-story facility was expanded to capture the growth within its immediate market.

The Stash Self-Storage Portfolio of Denver provides an exceptional opportunity to acquire four, state-of-the-art facilities in one of the most sought-after markets within the United States. Each site offers unrivaled demographics along with exceptional rent and management upside which will allow a buyer to capitalize on NOI growth day one. The immediate trade area offers the rare opportunity to enter into a high barrier to entry market with limited competition and realize long-term, in-place cash flow within a single transaction.

INVESTMENT HIGHLIGHTS

Core Locations within one of the most sought-after Markets in the Nation
High Barrier to Entry Markets with limited competition
Four properties with 30 min driving radius allowing for immediate scale
Excellent demos with Three-Mile Population Averages in Excess of 156,000 individuals and SF per Capita less than 7
Grant Street has two triple net tenants on the first floor – Express Employment and Christopher’s Kitchen and Bath
Champa Street has 3700 sf of retail space on the first floor that is ready for a new tenant

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SOLD

NRSF: 177,487

The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for the sale of two Palm City, FL self-storage properties. This sale presents a unique opportunity to acquire one brand-new and another established business in the growing Port St. Lucie metro area where self-storage is in constant demand.

The first of these properties is a new construction facility located in a residential area, surrounded by many new and forthcoming developments. This property is poised to serve the city’s steadily expanding population with 1,036 total units with a range of size options to accommodate all personal belongings, including RVs and boats.

The second property is an established business conveniently situated along SW Martin Highway, with easy access from the Florida Turnpike. This well-maintained facility offers modern conveniences like drive-up access, elevator access, climate-controlled units, and 24-hour security surveillance. With a physical occupancy at 97.6%-97.8% and economic occupancy at 44.03%, this opportunity offers considerable upside in management, operations, and revenue enhancement.

INVESTMENT HIGHLIGHTS

Two properties in St. Lucie County, with a current population totaling 328,297 and projections for consistent growth.
Convenient locations along major roadways with heavy traffic and high visibility.
Clean, well-lit facilities with modern amenities; built-in 2021 and 1993.
Properties offer a total of 177,487 rentable SF and 1904 rentable units.
Features include climate-controlled storage options, parking spaces for RV, boats, and vehicles, 24/7 video surveillance, and electronic gate access.

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SOLD

NRSF: 100,085

American Self Storage is located in the heart of Stockton, CA on 6.6 acres where the immediate three-mile competition is less than 4.5 per capita and population exceeds 98,000 people. Built in 2003 and upgraded in 2021, the facility consists of 797 total units which include traditional and non-climate units, boat and RV parking, as well as an expansion that will obtain its Certificate of Occupancy within the next month. At 100,085 of net rentable storage plus an additional 41,440 sf of uncovered parking this property remains one of the most recently built, premier self-storage locations within Stockton.

Fronting on W Charter Way, the property has excellent visibility while seeing 17,500 of cars per day passing directly in front of the facility. With the expansion, American Self Storage currently sits at 67% physical and 55% economic which will allow an investor to realize an incredible amount of day one upside by simply stabilizing the facility and pushing rates. Additionally, 24-hour video surveillance and electronic gating is utilized to guarantee secure storage.

American Self Storage offers an investor the opportunity to gain a significant footprint within a market that sees very low sf per capita compared to the national average. The facility delivers immediate upside with opportunities to realize occupancy growth and capitalize on the ability to significantly increase rates during the lease-up phase of the new addition. This property represents the ideal storage investment to position oneself a leader in Stockton’s very competitive self-storage landscape. The offering represents a rare opportunity to acquire a Class-A, recently expanded, mom & pop managed single-story facility.

Please do not contact the facility. Please schedule all site visits through our team.

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” 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

NRSF: 55,296

[/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=””]Take advantage of the opportunity to acquire an established self-storage property near Alabama’s state capital. A historical and cultural hub that also anchors a diverse range of industries, the Montgomery metro area is currently home to 386,047 residents. Homeowners here enjoy a comfortable median household income of $59,148, along with the cost of living about eight percent lower than the national average.

The property listed in this sale is conveniently located north of Pleasant Hill United Methodist Church, just off W Andrews Ave in Ozark, AL. Built-in 2000, this recently renovated 55,296 square-foot structure offers 505 rentable units. The facility features bright lighting, a state-of-the-art security system, and climate-controlled units to protect personal belongings from sweltering Alabama summers. For added convenience, boat and RV parking options are also available.

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 relatively low cost of living.

INVESTMENT HIGHLIGHTS

Established business serving the growing Montgomery metro area; the current population is 386,047.
Recently renovated structure with an accessible location off of W Andrews Ave.
Modern updates include bright lighting and a state-of-the-art security system.
The facility offers 505 rentable units; climate-controlled units are available.
Boat and RV parking options are both available.
Physical occupancy up to 90.8%; economy occupancy at 76.06%.

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