Florida Atlantic Coast Value-Add Portfolio

Florida Atlantic Coast Value-Add Portfolio2021-10-14T13:02:11-04:00

Project Description

The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of the Florida Atlantic Coast Value-Add Portfolio.

UNDER AGREEMENT

NRSF: 177,487

The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for the sale of two Palm City, FL self-storage properties. This sale presents a unique opportunity to acquire one brand-new and another established business in the growing Port St. Lucie metro area where self-storage is in constant demand.

The first of these properties is a new construction facility located in a residential area, surrounded by many new and forthcoming developments. This property is poised to serve the city’s steadily expanding population with 1,036 total units with a range of size options to accommodate all personal belongings, including RVs and boats.

The second property is an established business conveniently situated along SW Martin Highway, with easy access from the Florida Turnpike. This well-maintained facility offers modern conveniences like drive-up access, elevator access, climate-controlled units, and 24-hour security  surveillance. With a physical occupancy at 97.6%-97.8% and economic occupancy at 44.03%, this opportunity offers considerable upside in management, operations, and revenue enhancement. 

INVESTMENT HIGHLIGHTS

  •  Two properties in St. Lucie County, with a current population totaling 328,297 and projections for consistent growth.
  • Convenient locations along major roadways with heavy traffic and high visibility.
  • Clean, well-lit facilities with modern amenities; built-in 2021 and 1993.
  • Properties offer a total of 177,487 rentable SF and 1904 rentable units.
  • Features include climate-controlled storage options, parking spaces for RV, boats, and vehicles, 24/7 video surveillance, and electronic gate access.