Cushman & Wakefield has been exclusively retained to offer for sale this newly expanded Extra Space (managed) facility in downtown St. Paul, MN.

This unique opportunity provides investors the ability to acquire a multistory, climate‑controlled self‑storage facility in a high‑barrier‑to‑entry urban market. The property was originally comprised of 41,969 net rentable square feet (NRSF) and has recently been expanded to a total of 87,408 NRSF across 905 units. The newly delivered units were brought online in November 2025 and January 2026, giving new ownership the immediate ability to implement an aggressive lease‑up strategy. In‑place effective rental rates trail market averages, presenting additional upside through revenue growth.

The facility features two large drive‑in bays with weather‑protected, ground‑floor drive‑through access and ingress/egress from both Sibley Street and Jackson Street, enhancing customer convenience and operational efficiency. Prior to the expansion, the property was 87% occupied. Following the addition of the new units, current occupancy stands at 49% by square footage, reflecting significant near‑term lease‑up potential.

Downtown St. Paul is experiencing substantial reinvestment, with private businesses, government entities, and nonprofit organizations collectively planning more than $1 billion in improvements along the riverfront. Public infrastructure projects, including the Capital City Bikeway and the 3rd Street Bridge, are already underway to improve access and connectivity. Additional developments—such as upgrades to the Grand Casino Arena, The Stella, and the Central Station Block—are in various stages of planning and construction. Long‑term, the City of St. Paul remains focused on infrastructure modernization, housing redevelopment, and reconnecting downtown to the Mississippi Riverfront.

The St. Paul trade area has more than 169,000 residents with less than 3.0 square feet of self‑storage per capita. The greater St. Paul metro area is projected to grow by 4.4% over the next five years, supported by a median age of 33.5 and rising household incomes. This offering represents a rare opportunity to acquire the only self‑storage facility located in downtown St. Paul.