Cubes Self Storage 3 Property Portfolio
Salt Lake City MSA
Executive Summary
CBRE’s Self Storage Advisory Group is retained as the exclusive listing agent for the Cubes Self Storage 3 Portfolio. The properties are located in the Salt Lake City region, with a combined 1,936 units distributed across 214,009 net rentable square feet of ground level drive up, Interior Non-Climate-Controlled, and Interior Climate-Controlled storage space.
Cottonwood Heights, UT, presents a compelling investment opportunity driven by its robust economy and steady job growth. The city’s strategic location in Salt Lake County, coupled with above-average personal and community wellbeing scores, enhances its appeal for businesses and residents alike. Looking forward, Cottonwood Heights’ proactive economic development initiatives, such as the 2019 Affordable Housing Plan and the Interlocal Sustainability Action Plan, position it for sustained job growth.
Draper and Millcreek are standout performers in Salt Lake County’s economic landscape, with both cities demonstrating strong job growth and promising future prospects. Draper’s median household income, significantly above the national average, underscores its affluent and skilled workforce, fostering a thriving business environment. The city hosts a diverse economy with strengths in technology, healthcare, and professional services. Millcreek, similarly, boasts above-average wellbeing scores and a vibrant community connection, which enhances its appeal for businesses and residents alike. Both cities benefit from Utah’s ranking as the nation’s most economically diverse state, with projected job growth in healthcare, IT, and renewable energy sectors through 2032, per BLS projections. Draper’s low unemployment and high median earnings and Millcreek’s focus on community-driven development position them for sustained economic growth.
Silicon Slopes is the burgeoning tech hub centered in Salt Lake City with significant economic impact to the neighboring areas. This dynamic technology powerhouse, often dubbed the “Entrepreneur Capital of the World”, contributes over $20 billion annually to Utah’s economy—roughly 10% of the state’s output. The Silicon Slopes region is home to many major facilities and corporations that greatly enhance the economic performance of Utah. Silicon Slopes enhances Utah’s economic resilience with its strategic advantages—low taxes, business-friendly policies, and a skilled workforce from nearby universities—which position it as a magnet for corporate relocations and expansion.
Investment Highlights
Team
Brokerage Team
CBRE Self Storage Advisory Group provides personalized and tailored services, backed by the nation’s foremost experience and technology, driving successful real estate outcomes for individual and institution investors alike. As the industry leader in self-storage advisory, we bring unmatched buyer exposure and market knowledge to each transaction, delivering maximum value to clients.
With more than $6.5 billion in consideration and over 45 million square feet sold since 2009, this self storage team led by Nick Walker offers customized investment sales, acquisition and recapitalization services, together with industry-leading market intelligence, to provide unmatched exposure to buyers across the country. By leveraging the strength of CBRE’s Self Storage Advisory Group, in conjunction with market research, a seamless execution process and long-standing relationships, the team can anticipate trends and command capital globally, validating CBRE’s Self Storage Advisory Group as the safest and best choice for results in the global investment property capital market.
