Lionville Self Storage Opportunity

Lionville Self Storage Opportunity2020-10-19T09:42:22-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale the Lionville Self Storage Opportunity in Chester County, Pennsylvania.

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Total NRSF – 57,675 NRSF

371 Gordon Dr, Exton, PA 19341
The Philadelphia MSA

The subject property represents a well-maintained storage facility comprised of 57,675 rentable square feet on approximately 4.5 acres of land. The facility offers 207 climate-controlled units, 26 non-climate-controlled units and 229 drive-up units for a total of 462 units. The site offers a wide variety of premium options to accommodate the affluent population in this district of Chester County, Pennsylvania. The subject has excellent physical and economic occupancies of 99 percent and 90 percent, respectively. To ensure secure storage, the property utilizes personalized keypad entry, monitored gate access, fencing and on-site management.

The subject property is impeccably located in the suburb of Exton, which is a desirable component of Chester County. The facility benefits from a prosperous annual median household income exceeding $121,000 within three miles. Additionally, there is a projected annual growth rate of 1.7 percent over the next several years, surpassing the national average. The facility is located off East Uwchlan Avenue and offers prime visibility from Interstate 76; these thoroughfares witness traffic counts of over 25,000 and 50,000 vehicles per day, respectively. Lionville Self Storage is located approximately three miles north of Exton Square and is encompassed by several national retailers and shopping centers, drawing consistent traffic into the vicinity. Chester County is a prominent district of the Philadelphia Metropolitan Area and is ideally situated about 30 minutes from downtown Philadelphia.

The opportunity allows an investor the ability to acquire a stabilized storage asset with multiple upsides in a thriving location of the Philadelphia MSA. A buyer will benefit from limited competition within the immediate trade area; there is only one competitor within a three-mile radius. The facility can further capitalize by raising rental rates to meet the comparable average, the 5×10 and 10×20 climate-controlled rates are well below market. The area’s limited supply and lucrative household income will justify rate increases. The facility’s premium location paired with excellent demographics and a strong demand for storage comprises a turn-key storage investment positioned for continued success for years to come.
Investment Highlights:

  • Rare Opportunity to Acquire a Stabilized Storage Asset with a Significant Market Footprint in Chester County, PA
  • Excellent Physical and Economic Occupancies of 99 Percent and 90 Percent, Respectively
  • Low Supply of 5.46/NRSF within a Five-Mile Radius and Only One Competitor within a Three-Mile Radius
  • Three-Mile Projected Growth Rate of 1.7 Percent Annually
  • Affluent Median Household Income Exceeding $121,000 Annually
  • Capitalize by Raising Rates to Meet the Comparable Average
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