Extra Space Storage (Managed)

Investment Summary

  • Institutional quality product in core market with strong physical lease-up trajectory
  • Favorable demand characteristics significantly below industry square foot per capita thresholds
  • The Miami MSA is the largest urban economy in Florida and the 12th largest GDP in the U.S.
  • The Miami MSA ranks as the country’s 4th most valuable housing market at $864 billion
  • City of Miami and Miami-Dade County approved an ordinance that requires a minimum 2500-foot distance between self-storage facilities in any direction, applies to T5-O and T6-O zoning areas
  • Miami market is prime for self-storage demand with 68% renter-to-homeowner ratio
  • Irreplaceable visibility and market presence in Downtown Miami, I-95 corridor into Downtown/Biscayne Blvd with 210,000 VPD

Net Rentable Square Feet
255,872 NRSF
Unit Count
3,342
Year Built
Multiple

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