Front Range Self Storage

Front Range Self Storage2019-07-16T17:27:54-04:00

Project Description

The Mele Group of Cushman & Wakefield has been selected to exclusively market for sale Front Range Self Storage, located in the Colorado Springs Metro Area.

Market Bid
NRSF – 76,233

2145 3rd Street
Monument, CO 80132

Front Range Self Storage is comprised of 76,233 rentable square feet and 665 drive-up units, ranging in size from 40 square feet to 280 square feet. The property is newly-paved with wide aisles and consists of all ground-level units for consumer convenience. The facility has physical and economic occupancies of 83.6 percent and 83.7 percent, respectively. To ensure secure storage, the site offers electronic gate access, 24-hour video surveillance and optimal lighting throughout the premises. The property boasts an excellent location off heavily-frequented Interstate 25 in a thriving region of Monument, Colorado.

The subject property resides on approximately 5.12 acres and is within close proximity to all of Monument’s resources and amenities. The property offers premium visibility from Interstate 25, one of Colorado’s major thoroughfares which allows for easy access to Colorado Springs and the region’s corresponding suburbs. Interstate 25 boasts a traffic count exceeding 90,000 vehicles per day. Additionally, the site offers convenient access to State Highway 105, which sustains a vehicle count of over 19,000 per day. Front Range Self Storage is surrounded by several national retailers and residential zones, including Monument and Woodmoor residential areas. The subject is situated in an affluent location with a median household income exceeding $110,000.

The subject offers multiple upsides as the primary self-storage option to the surrounding communities. An investor can increase revenue by increasing rates to match the comparable average, as the facility’s rental prices are currently below market. An investor can bolster the current truck rental and tenant insurance programs through aggressive marketing and efficient management. Monument is rapidly expanding; there is a projected population growth rate of 1.47 percent annually within a five-year span. Front Range Self Storage offers a well-maintained facility in a thriving sub-market of the Colorado Springs Metro Area.

Investment Highlights:

  • Well-Maintained Asset in a Thriving Demographic Region of the Colorado Springs Metropolitan Area
  • Prime Opportunity to Bolster Tenant Insurance and Truck Rental Programs Through Efficient Management and Aggressive Marketing
  • Newly-Paved with Wide Aisles and All Ground-Level Units for Consumer Convenience
  • Growth Potential Through Raising Rental Rates Currently Below Market
  • Ideal Location with Prime Visibility from State Highway 105 and Interstate 25, Which Sustain Traffic Counts Exceeding 19,000 and 90,000 Vehicles Per Day
  • Close Proximity to Several National Retailers, Residential Zones and Heavily-Utilized Resources Within the Region
  • High Projected Annual Growth Rate of 1.47 Percent Over the Next Five Years
  • Median Household Income of Over $110,000 Within Three Miles of the Site
  • 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 Front Range Self Storage, located in Monument, CO.

    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.