Holly Hill Closing Press Release

February 10, 2022

Holly Hill Self Storage

Washington D.C. Metro Area

February 10, 2022

For Immediate Release:

SkyView Advisors is pleased to announce the disposition of Holly Hill Self Storage in Alexandria, Virginia, a nationally renowned component of the Washington D.C. Metropolitan Area. The nation’s capital is currently one of the largest hotspots for commercial real estate investing, the subject property went from under contract to closed in under a month.

This trophy asset is comprised of 544 units across 51,280 rentable square feet in one of the most populated regions of the United States. The facility is advantageously encompassed by over 325,000 residents within five miles, in addition to a median household income exceeding $109,000 annually, far surpassing the national average.

The subject property yields the new owner massive upside through multiple revenue streams. Furthermore, the facility can be expanded by at least two stories to accommodate the strong demand and a low storage supply of 2.64 NRSF per person within the immediate trade area.This irreplaceable property is primed for continued success. There is a new development consisting of 279 multifamily homes and 195 townhouses under construction across the street from the facility, further validating the site’s immense growth potential within the local market.

David Zehendner and Ryan Clark represented the seller in the transaction.

Highlights:

Irreplaceable storage asset within the Washington D.C. Metro Area, which is currently regarded as one of the most desirable markets for commercial real estate investment opportunities

Upside Potential to Convert Indoor Non-Climate Units to Climate-Controlled Units and Increase those Rental Rates by 32 Percent

The New Buyer will have the Ability to Increase Rental Rates on Current Units by Five Percent to Reach Market Levels

Premium Opportunity to Implement a Robust Tenant Insurance Program to Further Generate Income

The New Investor Can Accommodate the Unprecedented Demand by Expanding by at Least Two Stories

There are No New Self-Storage Developments Planned Within a Three-Mile Radius, Allowing for the Facility to Operate with Total Market Dominance

New Multifamily Development with 279 Multifamily Homes and 195 Townhouses Under Construction Across the Street, Ensuring a Cash-Flowing Investment for Years to Come.

 

 

David Zehendner
Senior Vice President
P: (813) 701-3018
dzehendner@skyviewadvisors.com
FL RE License No.
SL3436376
Ryan Clark
Director of Investment Sales
(216) 302-3661
rclark@skyviewadvisors.com
OH RE License No.
SAL.2015001542