Virginia Beach Self-Storage Portfolio

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Deal Highlights

All Site Visits Must be Scheduled Through SkyView Advisors

  • Acquisition Guarantees an Investor Two, Brand-New Self-Storage Facilities Currently Underway in Residentially-Dense Areas of Virginia Beach
  • Squirrel Away Storage 1’s Anticipated Opening is Q3 2022, While Squirrel Away Storage 2’s Anticipated Opening is Q4 2022
  • Both Locations are Approximately 11 Miles from One Another, Allowing for Efficient Management Across the Portfolio
  • High Ratio of Renter-Occupied Housing Within the Facilities Vicinities; Traditionally, Rental-Occupied Residences Utilize Self Storage at a Higher Ratio Compared to Owner-Occupied Residences
  • Squirrel Away Storage 1 is Stationed 0.5 Miles from the Virginia Beach Expressway/Interstate 264 Entry/Exit, Witnessing an Average Daily Traffic Count of 161,000 Vehicles
  • Squirrel Away Storage 1 Boasts the Modern Trend of Multi-Use Along a Signalized Intersection with Cash-Flowing Tenants in Place
  • Tenants are Stabilized Within the Retail Center Located off of Baxter Road; Veterinary Services and a Smoothie Stop With Leases for Renewal in 2025 and 2026
  • Parking Lot Within Multi-Use Property Provides an Expansion Opportunity for Additional Self-Storage Income, Yielding an Estimated 24,580 NRSF
  • Squirrel Away Storage 2 Construction Initiated in February 2022 and is Comprised Completely of Self Storage
  • Class A, Fully-Climate Controlled Self Storage Guaranteed at Squirrel Away Storage 2 Upon Completion
  • Squirrel Away Storage 2 Will Serve as the Sole Facility Within a One-Mile Radius and a High Population Growth Hampton Roads MSA, Also Known as the Virginia Beach MSA or Coastal Virginia, is the 37th Largest Metro Area Within the United States

Deal Type

Portfolio

Price

TBD by Market

Pro Forma NOI

$1,865,150

Total NRSF
125,325 NRSF
Total # of Units
1,030
Status

Active

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