StorTrack’s featured market this month is Sunrise, FL. Sunrise is a vibrant city in Broward County. 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? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.
Self Storage Market Metrics for Sunrise, FL
Current Supply:
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 441 active projects across the state.
Rate Trends:
Rates in Sunrise have trended downward in the last 12 months. The average rate per sq ft for standard, non-climate-controlled units is currently $1.68 and $2.01 for climate-controlled units.
View the Market Report for Sunrise, FL
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.
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