The Wall Street Executive Storage
Spokane, WA - 414 self-storage units & 7 office spaces
Flite is pleased to present the Wall Street Executive Storage, a fully renovated, 414 unit, brand new self-storage facility with 7 office units and bulk storage located in the heart of downtown Spokane, Washington. Construction of the Wall Street Executive Storage completed in December 2021 and was delivered fully built out and 100% vacant.
Flite is excited to take on this challenge as it provides value-add opportunities mainly from a property management perspective. Flite has learned that this will be the last storage facility that the City of Spokane Building and Planning Department will approve for the foreseeable future as they prefer to push future projects to mixed use and multifamily developments. This will cement this storage facility as a highly desirable asset for many years as there is an artificial cap on inventory and no new competitors entering the local market.
Our strategy includes partnering with a national storage facility operator and management team, StoragePro, who will work closely with Flite to lease up the units at market rates. The clientele includes local residents, local offices and large corporate users, such as hospitals and financial institutions, that have already expressed interest in leasing large blocks of units and space. We will also work closely with commercial brokers, such as Colliers International, to lease up the office spaces on the first and second floors.
This property is uniquely positioned to Flite and our investors to take advantage of this unique opportunity in the self-storage sector in a prime location and participate in the value upside.
