Fulton advised a private client on the purchase of a self-storage facility in South Florida. Asset sourcing, financing (CMBS), and all negotiations were led by Fulton's team of commercial real estate experts.
The 35,000 SF property features nearly 600 self-storage units, almost half of which are climate-controlled. Located along a main thoroughfare, in an under-supplied submarket, the asset is has historically strong occupancy and significant upside.
Formerly independently owned and operated, the facility will be upgraded and run by a professional, third-party management company. New revenue management systems, ancillary revenue streams, and a formalized marketing program will be put in place to immediately improve performance.
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