Forward Storage
Industrial
Marketing description
Call for Offers: Hard Bid Date: Tuesday, March 24th
The property is positioned within the thriving metropolitan area of Grand Rapids (top 50 MSA), benefiting from strong economic fundamentals, population growth, and high median household incomes. The MSA has demonstrated a robust real estate market and is poised for continued expansion, supporting the asset’s potential for continued lease-up velocity, rental rate growth, and high occupancy rates. This asset is ideally positioned for investors seeking exposure to an established and rapidly growing self storage market.
This Class A facility, which opened in November 2023, features 100% single-story, drive-up self storage product across 203 units. The asset boasts best-in-class construction and prime frontage/access along M-37 (13k vehicles per day). The 5-mi population surrounding the subject property is 16k with 8.9% projected growth (5-yr) and average HH incomes of $115k.
Investment highlights
Class A Asset: excellent opportunity to acquire five newly constructed self-storage buildings opened in November 2023 located in the affluent, growing market of Middleville, Michigan (Grand Rapids MSA)
Premium Unit Mix: totaling 45,200 NRSF of 100% single-story, drive up product
Lease-Up and Revenue Upside Opportunity: the facility has leased up to 65% unit occupancy, providing a clear path for future revenue growth through continued lease-up and revenue management initiatives
Fully Fenced, Lit, and Secure: facility with access control
Great Frontage, Visibility, and Access: along M-37 (12,911 VPD), a major north-south arterial road
Strong Local Demographics: 16k population, $115k AHHI, and 8.9% pop growth in 5-yr (5-mi)
Located within the Grand Rapids MSA: ranked as the #1 City to Grow Your Career in 2025 on LinkedIn’s inaugural Cities on the Rise list
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