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Interested in financing this property?
Click here
to speak to a self storage lending expert today.
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| Rentable Square Feet: |
134,318 Sq Ft |
Brokerage: |
Marcus & Millichap - |
Number of Units:
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623 Units |
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The Mele Storage |
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Group
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Advertisement
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List Self Storage (
ListSelfStorage.com) is proud to feature
U Storage OK
for sale. U Storage OK represents an exceptional opportunity to acquire a newly-constructed self storage facility in one of Oklahoma City's most affluent and growing suburbs, Edmond. Well positioned in a top 50 U.S. Metropolitan Statistical Area (MSA), the facility features both climate and non-climate controlled storage. The opportunity has significant growth potential via continued lease-up of a 28,000-square foot expansion currently under construction. The offering demonstrates solid projected leveraged IRRs of 21.8% in year five and 19.3% in year seven. In year two, an investor can enjoy an attractive capitalization rate of 7.46%.
Initially constructed in 2015 on two parcels totaling an approximate 7.89 acres, the 106,318-rentable square foot facility is currently comprised of 470 climate-controlled, non-climate controlled and boat/RV parking spaces. To meet the high demand for storage, the facility will gain an additional 153 units and 28,000 square feet of climate controlled and non-climate controlled storage space this year, totaling the facility's final net rentable square footage to 134,318 and 623 units delivered upon sale. The facility has witnessed substantial lease-up activity, experiencing a year-over-year average monthly growth of 32% for the first six months of 2017. The facility is equipped with a fully-fenced perimeter, gated access, a state-of-the-art video surveillance system and individual unit alarms as well as two manager's offices, a showroom and a conference area.
READ MORE
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Trey Hammond
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Trey Hammond is a senior investment associate at Marcus & Millichap and a select member of the National Self-Storage Group with a specific focus on Oklahoma, Arkansas, Missouri and Kansas. Mr. Hammond joined the Oklahoma office of Marcus & Millichap in 2011 as a self storage specialist, bringing with him over five years of business development and brokerage experience. Mr. Hammond is a graduate of Oklahoma State University at Stillwater, OK with a Bachelor of Science (B.S.) in mechanical engineering where he also earned a Master of Business Administration (M.B.A.) graduate degree. Trey is committed to building long-term relationships with real estate investors by delivering exceptional client services and maintaining the highest ethical standards within the industry. Mr. Hammond provides extensive market expertise and knowledge while understanding long-term objectives, thereby ensuring quality transactions and unrivaled business relationships for years to come.
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Michael Mele
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Michael A. Mele joined Marcus & Millichap in 1999 as an agent, rising to associate in May 2000, senior associate in May 2002, senior investment associate in July 2005, vice president investments in January 2008 and senior managing director investments in 2014. His product specialty is self storage. He has closed over 300 self storage transactions totaling over $1.57 billion in sales volume and has achieved senior director status in the National Self-Storage Group. For consecutive years, Mr. Mele has been the recipient of Marcus & Millichap's National Achievements Award, Chairman's Club Award and the most coveted accolade, the Chairman's Circle of Excellence Award. Mr. Mele is a graduate of West Chester University, where he earned a B.S. degree. He is a member of the National Self-Storage Association and the National Association of Realtors. He is currently on the legislative committee for the Florida Self Storage Association as well as the prior president. With almost two decades of experience as a self storage advisor, Mr. Mele provides significant insight for his clients, ranging from single, private investors to large-scale REITs. His experience and vast contributions to the industry have made him a key advisor in the self storage market. He has been recognized and interviewed over 50 times by multiple publications including Inside Self-Storage, Mini Storage Messenger and The Wall Street Journal for his critical leadership, expertise and knowledge of the self storage industry.
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