TK Secure Storage of Tremonton

Property Location

976 West 600 North
Tremonton, UT 84337

investment highlights

  • Historical Occupancy Close to 100%
  • New Asphalt Coat as of 2019
  • High Quality Construction
  • Best in Class Amenities
  • Waiting List for Storage Units
  • No Outstanding Capital Improvements
  • Opportunities to Add More Units
  • Manager Desires to Stay On

property summary

TK Secure Storage located in Tremonton, Utah, consists of 24,276 net rentable square feet on approximately 1.34 acres. Phase One opened in 1992 with two small buildings and the remainder of the facility opened in 2009. The property is highly visible from 1000 West and 600 North which combined serve over 6,000 cars a day. The facility features best in class amenities including, but not limited to, individually coded access, paved drives, onsite manager’s office, professional leasing office, and digital video surveillance.

Tremonton, Utah located in the Box Elder County, and home to major employers such as Autoliv, the world’s largest automotive safety supplier; Nucor Steel, one of North America’s largest steel companies; and Northrop Grumman’s ATK Launch Systems one of the world’s leaders in launch vehicles and their propulsion systems, missile technology, defense electronics, precision weapons, armament systems, and ammunition. There are approximately 16,408 residents with an average household income of $67,363 in a five-mile radius. The five-mile population has grown over 15 percent since 2010 and is projected to grow another nine percent by 2025.

TK Secure Storage is currently 96 percent occupied and has regularly been 100 percent occupied throughout recent years. presenting an investor with the opportunity to acquire the best in market, well-performing asset. The Seller has successfully bumped rents over the last 12 months with little to no attrition, given the strong occupancy and continued demand the owner is planning additional rent bumps towards the end of the year. The facility has been well maintained and future owners will be able to capitalize on the strong occupancy and quality construction to create stable cash flow. The manager has expressed a desire to stay on and is highly recommended by the current owner.

Broker Information

Jordan Farrer

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

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