Sunrise is a vibrant city in Broward County, Florida. Several major corporations have chosen the city of Sunrise as the location for their corporate headquarters. This includes companies in the technology, finance and healthcare industries.
How is Sunrise as a self-storage market and is it a good place to consider investing in? StorTrack’s Explorer platform reveals some metrics to analyze its potential as a self-storage investment. Although this report is specific to self-storage development, the data is also helpful for those contemplating RV and boat storage development.
There is a 2.97 square feet per capita supply in this market. For comparison, Florida’s square feet per capita is 9.21. Out of the five self-storage stores currently operating in Sunrise, two are REITs and three are mid-size operators. There are no new planned development projects in this market, though there are 438 active projects across the state.
Rates in Sunrise have trended downward in the last 12 months. The average rate per square foot for standard, non-climate-controlled units is currently $1.71 and $2.22 for climate-controlled units.
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Is this a good market for you to invest in? To understand Sunrise’s potential as a self-storage market, view this complimentary report, giving you useful market statistics and metrics. Additional metrics available with report purchase.
Explorer is StorTrack’s market analysis platform for self-storage operators, investors and developers.
Explorer is available for the evaluation of any primary, secondary and tertiary market in the US, Canada and the UK. To purchase a full market report for this or any other market, go to explorer.stortrack.com.