Centralia Self Storage

Centralia Self Storage2021-03-10T12:09:14-05:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale of Centralia Self Storage located in Centralia, WA.

Price $5,100,000
NRSF – 45,782

307 W Reynolds Ave, Centralia, WA 98531

Cushman & Wakefield’s Self-Storage Advisory Group is pleased to offer the opportunity to acquire Centralia Self Storage. The offering is an investment grade
45,782 net rentable square foot self-storage facility located on 3.29-acre parcel in Centralia, WA. The fully secure facility offers 368 units of drive-up self-storage, interior units, vehicle parking, and a fully equipped rental office with live-in manager’s apartment. The over 85% economic occupancy the facility offers makes Central Self Storage a safe-harbor investment in a growing logistics hub town strategically located in between Portland and Seattle. Centralia Self Storage is located at a busy crossroads that serves as one of the main thoroughfares of the community. The 10,000 cars per day street functions as a junction between the twin cities of Centralia & Chehalis connecting the residential centers with I-5 and industrial center. The site is situated across the street from a Dollar General and is better positioned than the competition to serve the residential section of the city. The surrounding population boasts an average household income of approximately $70,000 per year with a high percentage of renters. The combination of main street road visibility and proximity to the population will continue to make the offering a stable performer. The facility offers the opportunity to own a staple rent estate asset in a growing community. The facility offers a year 3 cash on cash of 10.3% and a 5 year IRR of 20.2% with market-rate financing. The facility recently had new roofs installed and siding replaced which keeping future maintenance costs down. The asset is well-positioned to perform, producing consistent yields for the foreseeable future.

Property Highlights

 Opportunity to Acquire a Stabilized Storage Asset with a Significant Market Footprint in a Growing Community

 Located on major intersection connecting the residential neighborhood with Interstate 5 industrial/commercial hub

 Strong financial performer with projected cash-on-cash returns of over 8% in year 2 and 11% in year 5

 Low vacancy property offers a dependable cashflow day one and dependable growth going forward

• Value-add opportunity to increase parking on excess land, expand tenant insurance program, and raise rents to market

• Strong Average Household Income Exceeding $70,000 Annually

• Strong leasing demand and high occupancy within the trade area positions the property for continued growth

  • 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 Centralia Self-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.