American Personal Storage

American Personal Storage2019-12-12T16:14:04-05:00

Project Description

The Self Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale American Personal Storage.

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NRSF – 69,219

1849 SW S Macedo Blvd
Port St. Lucie, FL 34984

American Personal Storage is comprised of 69,219 rentable square feet on approximately 4.1 acres of land. The facility offers 256 climate-controlled units and 294 non-climate-controlled units, ranging from 25 square feet to 510 square feet, in addition to 52 parking spaces for a total of 602 units. To ensure a secure premise, the subject property is equipped with video surveillance, fencing, electronic gating and keypad access. The facility has physical and economic occupancies of 92.5 percent and 76.4 percent, respectively. American Personal Storage has expansion potential and recently underwent several capital improvements to enhance the facility, including upgraded lighting, new painting and a new boat/RV parking area. The site offers excellent visibility from Florida’s Turnpike, which is one of the most-frequented commuter roadways in Florida.

The facility is located at the center of a dense residential corridor in Port St. Lucie, Florida. The site benefits from direct frontage along South Macedo Boulevard and offers premium visibility from Florida’s Turnpike; these thoroughfares sustain traffic counts of over 16,000 and 40,000 vehicles per day. Florida’s Turnpike is used by more than two million motorists daily, offering convenient routes and easy access to major highways throughout the state. Additionally, the subject is within a mile of Port St. Lucie Boulevard with a vehicle count in excess of 22,000 daily. There is a surrounding three-mile population of approximately 80,000 individuals. The site benefits from limited competition; there is only one other storage provider within three miles. Port St. Lucie is the anchor of the Port St. Lucie Metropolitan Area and the third-largest city in South Florida.

American Personal Storage represents a unique opportunity to acquire a facility with multiple upsides in a thriving demographic region along Florida’s Treasure Coast. The property has strong, forward-looking financials with projected cash-on-cash returns of 12.1 percent and 13.5 percent in years two and three, in addition to leveraged IRRs of 19.1 percent and 19.3 percent in years five and seven. An investor can benefit by bolstering the current truck rental and tenant insurance programs for additional revenue. Furthermore, the subject is well-positioned for success due to its high occupancies in a desirable and growing market.

Investment Highlights:

  • Well Maintained Asset with Numerous Upsides in Port St. Lucie, Florida
  • Low Three-Mile Supply of 1.68 Net Rentable Square Feet Per Person
  • Prime Visibility from Florida’s Turnpike With a Traffic Count in Excess of 40,000 Vehicles Daily
  • Cash-On-Cash Returns of 12.1 Percent and 13.5 Percent in Years Two and Three
  • Leveraged IRR of 19.1 Percent in Year Five
  • 80,000 Individuals Within a Three Mile Radius
  • Recently Completed Several Capital Improvements, Including New Lighting and a Boat/RV Parking Area
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as American Personal Storage.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.