Battle Ground Self Storage

Battle Ground Self Storage2020-10-20T16:28:06-04:00

Project Description

Battle Ground Self Storage is Under Contract.

Battle Ground Self Storage represents a brand new, class A facility, comprised of 376 units over 51,600 rentable square feet on approximately 6.58 acres of land. The facility is a single story, drive-up configuration and includes 203 heated interior units, 24 covered RV parking spaces and 149 large drive-up units. Covered RV parking spaces are in high demand in this region. To ensure a secure premise, the facility is equipped with video surveillance, perimeter-wide fencing and electronic gating, in addition to wide aisles for consumer convenience. The property received its certificate of occupancy July 15, 2020. Additionally, the property includes approximately three acres of excess land entitled for 24,580 gross square feet of storage area. The facility is poised for success with its new, state-of-the-art construction and premium amenities, in addition to an excellent location in Battle Ground, Washington; a thriving suburban component of the Portland Metropolitan Statistical Area.

The subject property offers premium visibility and direct frontage on Eaton Blvd, a high traffic corridor in Battleground, Washington with over 12,500 vehicles passing the facility daily. The site is half a mile from 122nd Avenue, which witnesses a solid traffic count of over 22,000 vehicles per day. This premium storage asset will benefit from an affluent three-mile household income exceeding $98,000 annually. Battle Ground has consistently been ranked one of the fastest growing suburbs in the Portland, Oregon Metropolitan Statistical Area. Additionally, over the last 25 years, Clark County, where the property is located, has been the fastest growing county in the Portland MSA. The current population within the 5-mile trade area is 56,589 residents. Nearly 1,200 residential units are in planning, permitting or under construction in the surrounding community.

Construction delays and cost overruns necessitate an immediate sale. The opportunity allows an investor the ability to acquire a newly-built, class A self-storage asset well below stabilized value with additional upside through future expansion. The facility’s new construction and premium quality combined with its location in a fast-growing Portland suburb and future expansion potential make this an ideal value-add investment opportunity.

Investment Highlights:

  • Newly-Built, Class A Facility in a Thriving Suburban Region of the Portland MSA
  • Consists of Highly-Coveted Covered RV Storage and Larger Unit Sizes Ideally Suited for the Trade Area
  • All Single Level with an Excellent Mix of Drive-Up Access and Heated Interior Units
  • Three Acres of Expansion Entitled for Approximately 24,580 of Additional Storage
  • Strong Projected Annual Growth Rate of 1.8 Percent Over the Next Five Years
  • Affluent Three-Mile Household Income Exceeding $98,000 Annually
  • Currently Over 1,200 Residential Lots in Planning/Permitting or Under Construction Within a Three-Mile Radius, Along with 192 Apartment Units