SkyView Advisors Brokers Sale Of 1,114-Unit Miami Self-Storage Facility

SkyView Advisors has completed the sale of SpareSpace Storage, a 1,114-unit self-storage facility in the Miami metropolitan area.

Scott Schoettlin and Michael Brandon of SkyView Advisors brokered the transaction.

Built in 2020, the seven-story property contains 106,443 net rentable square feet and was approximately 67% physically occupied at closing. The occupancy level provides the new ownership with an opportunity to increase revenue through continued lease-up and potential rental-rate growth.

The Class A facility benefits from prominent visibility along Interstate 95, a heavily traveled corridor serving nearly 200,000 vehicles per day. Its urban location also places the property within a supply-constrained market supported by long-term population and demographic growth.

The combination of modern construction, highway exposure and remaining lease-up potential helped position SpareSpace Storage as an attractive value-add investment within South Florida’s self-storage sector.

The transaction price and identities of the buyer and seller were not disclosed.