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  • Sold
CubeSmart Storage - Houston (Managed) - #1
CubeSmart Storage - Houston (Managed) - #2

CubeSmart Self Storage – Houston is an institutional quality, five-story
climate-controlled development situated on a .91-acre parcel. This
facility offers tenants 77,969 rentable square feet and 819 units, ranging
in size from 5’ x 5’ to 10’x 30’. This asset opened in May 2018 and has
steadily increased physical occupancy to 74.9%. Leasing velocity has
dramatically increased over the last 12 months, with an average monthly
net increase to physical occupancy of 2.6%. During this same timeframe,
net rental income has grown by an astounding 60.2%.
CubeSmart – Houston is located in Harris County, which is a part of the
nine-county Houston MSA and is the 3rd most populous county in the
nation. The population of Harris County (4.9 million people) is greater
than the total population of 25 states. The 3-mile radius echoes this
density with a population of 140,628 individuals, while the population
within the 5-mile radius swells to 400,482 individuals. Neighborhoods
serviced by CubeSmart include Spring Valley, Spring Branch East, Hunters
Creek Village, Bunker Hill Village, and Piney Point Village. The current
saturation within a 3-mile radius is calculated to be 10.01 square feet
per person, with 78% of the total square footage being over 18 years old.

  • 01/12/2022
  • SOLD