CubeSmart Self Storage (managed)
White Marsh, MD
- The developer constructed the property in 2021 utilizing a patented shipping container design.
- We strategized with our client to bring the property to market in summer 2022 in the early lease-up stage at 30% physical occupancy
- The leasing velocity was steady (3-4% per month) with significant discounting across all unit types relative to projected stabilized rents.
- This coupled with the rising interest rates a few months prior equated to significant variance across the entire buyer pool.
- Our team overcame a rapidly rising interest rate environment to generate seven written offers with 25% pricing variance from top to bottom.
- Our competitive process yielded the strongest group with an existing presence in the market and comfortability with the patented shipping container design.