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Six Property Self Storage Portfolio

3211 San Pablo Rd S Jacksonville, Florida United States 32224-2852
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Building Area

Property Description

Offering Price: Unpriced

Rentable Square Feet: ±441,455

Number of Units: ±4,701

Occupancy: Economic – 65% ; Physical – 86%

Offer Deadline: April 9, 2021

Investment Highlights

Six New, Class A, Self Storage Assets – The offering provides the opportunity to acquire six institutional quality self storage facilities which were constructed in 2017 and 2018 and are located in some of the top MSAs in the country. The facilities were constructed to Class A standards with all modern features and amenities and are market leaders in terms of overall quality.


Existing Cash Flow with Upside – With an economic occupancy of approximately 65% and a physical occupancy of approximately 86% the portfolio is rapidly approaching stabilization and is poised for additional occupancy gains and revenue growth through continued optimization of street rates and rate increases to existing tenants.


Strategic Locations in Top MSAs – The properties are situated in densely populated submarkets in locations with high visibility and easy access. The portfolio is geographically diverse with strategic locations in some of the top MSAs in the country.


  • Atlanta, GA – The Atlanta MSA is the 9th largest in the country and ranks 4th in population growth, with in-migration of over 730,000 residents since 2010. Atlanta is an economic powerhouse, with 28 Fortune 500 companies headquartered in the market (3rd most in the country) and GDP growth of 32% since 2013. 
  • Denver, CO – Denver’s population has increased by over 78% since 1990, and the market is projected grow by an additional 122,000 residents by 2025. There have been over 368,000 new jobs created in the Denver market over the last decade, resulting in an employment growth rate over 1.4X the national average. The cost of living in Denver is 21% lower than the average among the major West Coast MSAs.
  • Jacksonville, FL – The Jacksonville MSA has experienced fantastic growth since the turn of the century, with more than 33% population growth since 2000 and the area is expected to continue to grow rapidly, with +8.3% projected population growth by 2025. Jacksonville, known as North Florida’s employment hub, employs more than +845,000 people and has seen a boom in tech job growth, with over 22,500 new tech jobs created in 2020.
  • Raleigh-Durham, NC – The Research Triangle Region, encompassing the Raleigh-Durham-Cary-Chapel Hill CSA, experienced a 68% cumulative surge in population between 2000 and 2017 and was recently projected to be the second fastest growing large city in the U.S. The Triangle is continually ranked among the nation’s best metropolitan areas as a result of its robust economy, attractive business climate, highly educated workforce, established infrastructure, and outstanding quality of life. 
  • Columbia, SC – Columbia is one of the fastest growing metropolitan areas in the Southeast, with a growth rate of 19% over the last decade. Low costs of doing business, highly skilled workers, high quality of life, and extensive transportation infrastructure make Columbia an ideal place to do business.
Last Updated Date: 31 Mar 2021
Steve Mellon
Steve Mellon
Managing Director, Capital Markets
Brian Somoza
Brian Somoza
Managing Director, Capital Markets
License details
CA-01510519

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Last Updated Date: 31 Mar 2021

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