Edmond Self-Storage Opportunity

Edmond Self-Storage Opportunity2019-05-13T13:10:15-04:00

Project Description

The Mele Group Cushman & Wakefield is pleased to exclusively offer for sale the Edmond, Oklahoma Self Storage Opportunity.

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NRSF – 134,318

14000 North I-35 Service Road
Edmond, Oklahoma 73013

Acquisition of the Edmond, Oklahoma Self Storage Opportunity offers an investor the chance to purchase a newly-constructed self-storage facility in one of Oklahoma City’s most affluent suburbs, Edmond. Well-positioned in a top 50 U.S. Metropolitan Statistical Area, the facility features both climate-controlled and non-climate-controlled storage. Furthermore, the facility added a 28,000-square foot building in 2018 to meet the region’s high-demand for self-storage. Upon acquisition, an investor can increase profits by raising rental rates to meet the comparable average. The property offers impeccable visibility from Interstate 35, which serves as a major thoroughfare within the region. The offering demonstrates solid projected cash-on-cash returns of 10.2 percent and 10.8 percent in years two and three, in addition to leveraged IRRs of 18.0 percent and 17.6 percent in years five and seven.

Initially constructed in 2014, the 134,318-rentable square foot facility is comprised of 618 climate-controlled, drive-up non-climate-controlled and boat/RV parking spaces. The current physical and economic occupancies reside at 88.2 percent and 88.3 percent, respectively. The facility is equipped with a fully-fenced perimeter, gated access, a state-of-the-art video surveillance system and individual unit alarms. The subject’s spacious office area consists of two manager’s offices, a showroom and a conference area.

Strategically located along Interstate 35, the property witnesses traffic counts of over 76,000 vehicles daily. The subject is surrounded by an excellent mixture of single-family residential communities and multiple developments that have come underway in the past two years to meet Edmond’s explosive growth. The most significant point of interest is the Edmond Conference Center, which was recently completed in November 2017. Backed by the City of Edmond and paired with the 158-guest Hilton Garden Inn, this large-scale center provides over 20,000 square feet of meeting space while offering extensive retail, restaurant, sport and entertainment opportunities to all of Edmond and Oklahoma City.

Situated just north of Oklahoma City, Edmond has been featured as a top location in CNBC’s “10 Perfect Suburbs” and has repeatedly been awarded as an “Outstanding Community” by the State Chamber of Commerce. Surrounded by the picturesque Arcadia Lake serving as a major community recreation center, the suburb has also enjoyed excellent coverage nationwide, appearing in Newsmax magazine’s list of the “Top 25 Most Uniquely American Cities and Towns.”

Investment Highlights:

  • Solid Opportunity to Acquire an Asset with Significant Upside in Edmond, Oklahoma; Oklahoma City’s Most Affluent Suburb and a Rapidly-Growing Component of the OKC Metropolitan Statistical Area
  • Growth Potential by Bringing Current Tenants Up to Market Rates; the Property Added 28,000 Square Feet of Storage Space in 2018
  • Raise Returns by Increasing Rental Rates to the Comparable Averages
  • Solid Current Physical and Economic Occupancies of 88.2 Percent and 88.3 Percent, Respectively
  • Cash-on-Cash Returns of 10.2 Percent and 10.8 Percent in Years Two and Three, in Addition to Leveraged IRRs of 18.0 Percent and 17.6 Percent in Years Five and Seven
  • The Property Offers a Wide Array of Well-Maintained Units, State-of-the-Art Video Surveillance, Individual Unit Alarms, a Showroom, Two Manager’s Offices and a Conference Area
  • Affluent Average Household Incomes Exceeding the National Average: $136,295 Within a One-Mile Radius and $96,109 Within a Five-Mile Radius
  • Direct Access to and from Interstate 35, Which Sustains a Traffic Count of Over 76,000 Vehicles Per Day
  • Sign CA to Download OM & Financials

  • 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 the Edmond Self-Storage Opportunity, located in Edmond, OK.

    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.