Public Storage
Richmond, VA
Executive Summary
CBRE’s Self Storage Advisory Group has been retained as the exclusive advisor to sell Public Storage - Richmond, which consists of 593 units distributed across 58,582 net rentable square feet of ground level drive-up, interior heated and climate-controlled storage space along with outdoor parking. The facility offers valuable amenities including $1 first month rent promos, month to month rentals, and online rentals and billpay.
Richmond, Virginia, a historic gem and the state capital with a metro population approaching 1.3 million, stands out as an investment hotspot thanks to its strong economic performance and promising future developments. Known for its pivotal role in American history, Richmond has transformed into an economic powerhouse, clinching the Wall Street Journal’s #1 Hottest Job Market in the U.S. for 2024, driven by thriving sectors like finance (home to Capital One), biotech, and advanced manufacturing. Its #1 ranking for corporate headquarters projects (Site Selection Magazine, 2024) underscores a robust business climate, bolstered by a young, skilled workforce and a top-tier educational base, including the University of Richmond (#22 nationally, U.S. News 2025).
The Public Storage facility is strategically positioned in a prime, highvisibility spot within a bustling retail shopping center, making it a standout asset for both customers and investors. Anchored alongside heavyweights like Sam’s Club and Lowe’s Home Improvement, the property benefits from exceptional exposure, with an impressive 40,000 vehicles streaming past daily along West Broad Street—one of Richmond’s busiest commercial corridors. This location in Henrico County, just northwest of downtown, taps into a vibrant regional market. Boasting a population of 217,036 and a robust average household income of $139,207 within a 5-mile radius, the demographics show a prosperous and growing local community. The facility’s accessibility is enhanced by its proximity to Interstates 64 and 95, connecting it seamlessly to Richmond’s metro area of nearly 1.3 million residents.
Broker of Record
Douglas Tice/ CBRE, Inc.
VA Lic. 0225247834
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.
