1 Forge Drive, Newark, DE
Break Ground: Q4 2021
Grand Opening: Q4 2022
Management Partner: Cubesmart
Rental Area: 88,000 Square Feet
Units: 995
The only Class A facility in the market
$25/SF Rents
Close Proximity to the University of Delaware (1/10th of a mile)
The facility combines an extremely low amount of supply (3.3 SF per person) with outdated and aging competitors and an enormous amount of demand because of the University of Delaware. The Newark market has outstanding rents and an enormous barrier to entry. Land use approvals in New Castle County can take upwards of 2.5 years.
