King of Prussia, PA Self Storage Opportunity

The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to exclusively market the King of Prussia Self Storage Opportunity located in King of Prussia, PA. The opportunity represents a newly built, Class A facility located in the affluent suburbs of Philadelphia, PA.

The King of Prussia Self-Storage Opportunity currently REIT managed by Extra Space, represents a four-story, Class A storage asset in King of Prussia, Pennsylvania currently in its final stage of lease-up. The facility, located at 550 Allendale Road, King of Prussia, PA, offers 70,053 net rentable square feet consisting of 729 units. The site, which completed construction in May 2019, offers a wide variety of premium units to accommodate this desirable suburb located less than an hour outside of Philadelphia. The facility currently has a physical occupancy of 80%. King of Prussia Self-Storage offers elevator access
for consumer convenience and a state-of-the-art security system to ensure a secure premise.

This opportunity allows an investor the ability to acquire a brand-new storage asset within its lease up phase. Upon stabilization, the new owner can expect superior returns, and consistent growth in rental rates. There are additional upsides through bolstering the current tenant insurance program and truck rental programs. This turnkey investment, in a distinctly favorable submarket in the Philadelphia MSA, is well positioned for success and ample growth in the current
and future market.

Home to one of the highest percentage of renters in Pennsylvania, and located at the convergence of 4 major highways, King of Prussia is considered to be an edge city of Philadelphia. This suburb, like the rest of Montgomery County, is currently experiencing rapid development, which is expected to increase due to Covid-related population migrations in the Northeast. King of Prussia is home to the nation’s 2nd largest mall, which has over 2,000,000 square feet of enclosed
retail space.

Highlights

• Brand new, Class A Self Storage Asset with state of the art finishes and security
• Capitalize on superior returns upon stabilization
• Surrounded by excellent demographics in an extremely high growth county which supports Philadelphia, PA
• One-Mile Average Household Income Exceeding $100,000 Annually, Far Surpassing the National Average
• Over 70,000 residents within a Three Mile Radius and 180,000 within Five Miles