Independence Self Storage – Grantsville, Utah (Salt Lake City MSA)

Property Location

651 W Main Street
Grantsville, UT 84029

investment highlights

  • BEST IN CLASS // High quality construction, featuring wide drive aisles, drive-up and interior access. Professional leasing office with security displays. Large onsite apartment. Asphalt drives with ample parking and electronic keypad access.
  • STRONG LEASE UP // Phase One, constructed in 2014, reached 100 percent occupancy quickly, motivating the build-out of Phase Two. Phase Two opened in 2020 and nearly doubled the size of the property. Independence Self Storage is currently 80 percent physically occupied.
  • RESIDENTIAL CONSTRUCTION // National Home Builders, DR Horton, Richmond American Homes, and others have large scale master planned communities under construction in the trade area. Regional builder J Thomas Homes’ Northstar Ranch 1,200 Acre community will surround the property.
  • FUTURE UPSIDE // New ownership will benefit from strong population growth, 47 percent since 2010, and a projected 17.5 percent by 2026. Continued lease up of Phase Two, implementing a dynamic revenue management system, and ancillary income products will strengthen revenue growth.

Broker Information

Jordan Farrer

Senior Associate

Phone: 801.736.2643
Email: jfarrer@marcusmillichap.com
License: UT 9220604-SA00

Adam Schlosser

Senior Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Justin Forman

Broker of Record

Email: justin.forman@marcusmillichap.com
License: 12256000-PB00

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