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Illiana Storage – Cedar Lake, IN
Deal Highlights
- Opportunity to Increase Revenues Through Implementation of Tenant Insurance Program
- Fully Stabilized Site at 98 Percent of Physical Occupancy
- Population Growth of 1.4 Percent Annually in the Three-Mile Radius
- Current Rental Rates 27 Percent Below Market Levels
- Undersupplied With 4.19 Square Feet Per Capita in Five-Mile Radius and 7.8 Square Feet Per Capita in Three-Mile Radius
- Recent Expansion of 7,000 Net Rentable Square Feet Completed in July and Fully Leased-Up in 3.5 Months
