Project Description
On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the Storage Sense Self Storage managed facility in Knoxville, Tennessee.
UNDER AGREEMENT
NRSF – 70,590
On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the Storage Sense Self Storage managed facility in Knoxville, Tennessee.
Located just off the main thoroughfare of Kingston Pike, at 6410 Deane Hill Dr., the property is ideally positioned to benefit from strong population growth, excellent demographic profile within the trade area and close proximity to The University of Tennessee. The facility is 63%+ leased in just over one year of operations.
The class A facility, completed in 2021, is a purpose built, stand alone structure, surrounded by national retailers and residential rooftops. There is currently, no new storage in the development pipeline within the three mile trade area. Stabilized rental rates are projected at $20/psf +/-.
The successful purchaser will benefit from a new class A building with ample revenue growth from continued lease up and rental rates reaching market average.
INVESTMENT HIGHLIGHTS
- Excellent Lease Up Velocity
- Superb Location within Trade Area
- Class A Purpose Built Facility
- High Residential Density Within Trade Area
- High Income Sub-Market