Snapbox Self Storage Acquires Self Storage Facility In Fort Lauderdale For $20.4M

Located at 1401 Southwest First Avenue in Fort Lauderdale, this self-storage facility was recently sold in a closed transaction. The property, owned by CH SS Fund-Storsafe Fort Lauderdale Poinciana Park LLC, was purchased by Snapbox Self Storage, represented by Jake Ramage.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $20,400,000
• Units: 888
• Price per Unit: $22,973
• Square Footage: 74,000
• Price per Square Foot: $276
• Market: Fort Lauderdale
• Buyer: Snapbox Self Storage - Jake Ramage
• Seller: CH SS Fund-Storsafe Fort Lauderdale Poinciana Park LLC

This acquisition marks a significant investment in the self-storage market in Fort Lauderdale. The property consists of 888 units, with a total square footage of 74,000. The sale price of $20,400,000 translates to a price per unit of $22,973 and a price per square foot of $276. Snapbox Self Storage, led by Jake Ramage, recognized the potential of this self-storage facility in a growing market and made a strategic move to expand its portfolio.