$71,830,000 | 319,781 SF | Public Storage (Managed) Florida Portfolio

Colliers is pleased to present the Public Storage Managed Florida Portfolio, a rare opportunity to acquire three newly developed, institutional-quality self-storage assets in some of Florida’s fastest-growing and most desirable markets. Together, the properties comprise approximately 319,781 rentable square feet and 3,187 units, offering a compelling combination of immediate cash flow, lease-up upside, and future value creation across South and Central Florida. The portfolio provides exposure to a diversified mix of operating, newly delivered, and expansion-oriented assets in high-barrier-to-entry markets supported by strong demographics, population growth, and favorable long-term storage fundamentals.

West Palm Beach, the portfolio’s cornerstone asset, is a recently completed Class A facility at 4355 Cherry Road totaling 86,853 rentable square feet and 869 climate-controlled units. Opened in May 2025, the property has already achieved approximately 70% physical occupancy and benefits from strong visibility near North Military Trail in one of South Florida’s most supply-constrained submarkets. A key differentiator is the seller’s commitment to deliver a 45,000-square-foot Phase II expansion post-closing, increasing the property to approximately 122,853 rentable square feet and 1,229 units. This structure provides investors with immediate in-place cash flow alongside meaningful future growth through expansion and continued lease-up.

Lake Worth is a newly developed Class A facility currently under construction and scheduled for delivery in December 2026. Located on Hypoluxo Road in a highly affluent Palm Beach County submarket, the property will comprise approximately 77,363 rentable square feet and 860 climate-controlled units. Nearly 130,000 residents live within three miles of the site, with average household incomes exceeding $114,000, creating a strong foundation for lease-up and long-term rental growth.

Palm Bay offers the opportunity to acquire a newly delivered institutional-quality asset in one of Florida’s fastest-growing residential markets. Scheduled for completion in September 2026, the facility will contain approximately 119,565 rentable square feet and 1,098 units, including both climate-controlled and drive-up storage. Located along the highly visible Minton Road corridor, the property is well positioned to benefit from continued population growth and rising self-storage demand.
The portfolio is offered for approximately $71,830,000 and provides investors with immediate scale across three complementary Florida markets for a blended $224 per square foot. Upon stabilization, the assets are projected to generate approximately $5.07 million in blended NOI, equating to a stabilized 7.07% cap rate. The portfolio is positioned for rapid occupancy and rental rate growth supported by the institutional-quality construction, strong visibility, affluent demographics, and favorable supply-demand dynamics.
What makes this opportunity particularly compelling is its combination of current income, lease-up upside, and expansion potential. West Palm Beach delivers immediate cash flow and future expansion, while Lake Worth and Palm Bay allow investors to capture the value creation associated with lease-up and stabilization. Few portfolios offer this blend of scale, geographic diversification, and multiple avenues for growth within Florida’s strongest self-storage markets.