Des Moines, IA MSA
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The Affordable Family Storage portfolio, third party managed by CubeSmart, consists of three institutional-quality facilities located in the Des Moines Iowa MSA. These facilities provide 178,461 rentable square feet and 1,395 units of self storage, along with 9,673 of leased commercial space at the Des Moines 33rd Street location.
All three properties are well located in retail corridors which required a lengthy and costly entitlement process to gain approval. All of the facilities, with the exception of the Urbandale location, are conversions of big box retailers. The Sellers developed these properties with a long term mindset and the quality of the construction is evident.
The facilities feature large loading docks / drive-in bays and an abundance of coded gate access points to minimize the travel distance from the loading area to the tenant’s unit. While these facilities have only been open a few years, the units provided are mostly located on the 1st level which should lead to long term sticky tenants who are able to absorb future rate increases.
