ExtraSpace Storage/Telegraph Road is a 1168 unit self storage facility consisting of 103729 SF of climate controlled storage, 8,200 SF of non-climate controlled storage, 26,339 SF of indoor RV/Boat storage and 12,500 SF of surface parking.
The self-storage opened in January 2017 and has exhibited higher than the industrial average lease up velocity, leasing 91% physical occupancy within 24 months.
KeyFactors:
High daily traffic count of approximately 22,000 vehicles a day - the majority of self-storage users choose their location while driving.
The storage facility is highly visible from Telegraph Road where the average household income in the immediate area is $110,000 per year which is high versus the other counties in Maryland.
Competing projects in the area are within a 1.5 mile radius, strong evidence of a market void in the area of the proposed site.
The demographic profile of the residential base is strong and 8000 Telegraph is also attractive for the commercial sector and professional employees.
Project Specifications:
Consists of 105,000 of drive-in storage units from small to extra large.
9,000 SF of large units that can be accessed from the exterior of the building.
62,000 SF of open space to accommodate RV's, Boats and other large items.
