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Self-Storage Facility

Purely Storage Portfolio

6045 College St, Beaumont, TX 77707

Listing Price: $21,000,000

Cap Rate
5.06%
Number of Units
2,634
Occupancy
67.5%
Gross SF
394,479
Rentable SF
394,479
Price/Rentable SF
$53.23
Year Built
1970

Investment Overview

SOUTHEAST TEXAS SCALE // The Purely Storage Seven Property Portfolio is a 2634 unit, 394,479 net rentable square foot self-storage portfolio spread across seven locations in Southeast Texas. The properties sit within a 15-20 mile radius of each other offering numerous management efficiencies. The portfolio has many amenities including gated entries with digital keypads, on-site management offices, on-site residences video surveillance, concrete, asphalt and gravel driveways, and units with roll up doors. Five of the seven facilities have climate control units and there are cell phone towers at Orange and Bridge City and billboards at both Beaumont locations. STRATEGIC SOUTHEAST TEXAS LOCATION // The Beaumont-Port Arthur-Orange area commonly known as the Golden Triangle is about 80 miles east of downtown Houston and 50 miles west of Lake Charles, Louisiana. With access to Interstate 10, three major rail carriers, navigable waterways, and superior pipeline infrastructure, a favorable business climate has long thrived on the petrochemical, manufacturing, agriculture, and tourism industries. BEAUMONT GROWTH AND DEVELOPMENT // New projects near the Beaumont facilities include the Laurel Vista Apartments (69 multifamily units), Retreat West Beaumont (98 multifamily units), and ‘5 Under Golf’ – a new state-of the-art entertainment complex featuring high-tech gaming, a full service restaurant and bar, live music, corporate and social event spaces and more. Beaumont also has the fifth largest port in the United States and what is likely soon to be the largest oil refinery in the US (ExxonMobil). The Beaumont facilities are in two of the most highly trafficked areas of the Triangle. The College Street location enjoys traffic counts of 33,486, while the I-10 location sees 108,342 vehicles pass by daily. ORANGE COUNTY GROWTH AND DEVELOPMENT (ORANGE & BRIDGE CITY) // The Orange facility entrance offers exposure and proximity to perhaps the busiest retail corridor in Orange County. Major national retailers like The Home Depot, Walmart and numerous restaurants, are within about one mile of the facility. The Orange Planning and Community Development estimates that over 650 single family lots are coming to Orange over the three years. Furthermore, Chevron Phillips owns over 1,500 acres of land that is currently being cleared for an eight billion plant expansion less than one mile to the south of the Orange facility and four miles north of the Bridge City location. This will create around 500 permanent full-time jobs and 10,000 construction jobs over the next five to six years. This new project should also increase the value of the roughly 2.5 acres of additional land at the Orange Facility. Additionally Fortune 500 Company International Paper has a plant which is a major employment center on the north side of the Orange. MID COUNTY GROWTH AND DEVELOPMENT (NEDERLAND & GROVES) // The regional economy is closely linked to the petrochemical industry. The Neches River is a vital transportation route and major petrochemical employers dot the nearby economic landscape. Sunoco Fuels, Motiva, and Philips 66 are all within a couple of miles of Purely Storage Groves and Nederland. The city of Port Neches has a proposed redevelopment of the riverfront area which would add among items pedestrian access, commercial outlets, entertainment venues and lodging to the Neches River waterfront area. The Nederland facility is across the street from Nederland High School which is one of the most prominent southeast Texas high schools. The Nederland annex location is conveniently positioned from the off ramp on State Highway 287 with traffic counts of 44,898 vehicles per day. The Groves Facility fronts on Gulfway Drive (State Highway 87) about one mile from Twin Cities Highway (347) which is a major intersection near the Port Arthur and Groves border. The Groves facility enjoys traffic counts of 25,792. VALUE ADD OPPORTUNITY // The Purely Storage Portfolio is approximately 73 percent physically occupied giving a new operator tremendous upside with street rates that are below market in many cases. At just over $53/NRSF plus expansion land in Orange, investors should find the basis extremely attractive. Additionally, the owner has spent approximately one million dollars in CAPEX across the portfolio over the past four years which doesn’t include a nearly 17,000 feet covered parking expansion project that is currently underway in Orange.

Investment Highlights

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Exclusively Listed By

Financing By

Self-Storage Facility

Purely Storage Portfolio

Listing Price: $21,000,000

Cap Rate
5.06%
Number of Units
2,634
Occupancy
67.5%
Gross SF
394,479
Rentable SF
394,479
Price/Rentable SF
$53.23
Year Built
1970

Investment Highlights

  • N/A
  • N/A
  • N/A

Investment Overview

SOUTHEAST TEXAS SCALE // The Purely Storage Seven Property Portfolio is a 2634 unit, 394,479 net rentable square foot self-storage portfolio spread across seven locations in Southeast Texas. The properties sit within a 15-20 mile radius of each other offering numerous management efficiencies. The portfolio has many amenities including gated entries with digital keypads, on-site management offices, on-site residences video surveillance, concrete, asphalt and gravel driveways, and units with roll up doors. Five of the seven facilities have climate control units and there are cell phone towers at Orange and Bridge City and billboards at both Beaumont locations. STRATEGIC SOUTHEAST TEXAS LOCATION // The Beaumont-Port Arthur-Orange area commonly known as the Golden Triangle is about 80 miles east of downtown Houston and 50 miles west of Lake Charles, Louisiana. With access to Interstate 10, three major rail carriers, navigable waterways, and superior pipeline infrastructure, a favorable business climate has long thrived on the petrochemical, manufacturing, agriculture, and tourism industries. BEAUMONT GROWTH AND DEVELOPMENT // New projects near the Beaumont facilities include the Laurel Vista Apartments (69 multifamily units), Retreat West Beaumont (98 multifamily units), and ‘5 Under Golf’ – a new state-of the-art entertainment complex featuring high-tech gaming, a full service restaurant and bar, live music, corporate and social event spaces and more. Beaumont also has the fifth largest port in the United States and what is likely soon to be the largest oil refinery in the US (ExxonMobil). The Beaumont facilities are in two of the most highly trafficked areas of the Triangle. The College Street location enjoys traffic counts of 33,486, while the I-10 location sees 108,342 vehicles pass by daily. ORANGE COUNTY GROWTH AND DEVELOPMENT (ORANGE & BRIDGE CITY) // The Orange facility entrance offers exposure and proximity to perhaps the busiest retail corridor in Orange County. Major national retailers like The Home Depot, Walmart and numerous restaurants, are within about one mile of the facility. The Orange Planning and Community Development estimates that over 650 single family lots are coming to Orange over the three years. Furthermore, Chevron Phillips owns over 1,500 acres of land that is currently being cleared for an eight billion plant expansion less than one mile to the south of the Orange facility and four miles north of the Bridge City location. This will create around 500 permanent full-time jobs and 10,000 construction jobs over the next five to six years. This new project should also increase the value of the roughly 2.5 acres of additional land at the Orange Facility. Additionally Fortune 500 Company International Paper has a plant which is a major employment center on the north side of the Orange. MID COUNTY GROWTH AND DEVELOPMENT (NEDERLAND & GROVES) // The regional economy is closely linked to the petrochemical industry. The Neches River is a vital transportation route and major petrochemical employers dot the nearby economic landscape. Sunoco Fuels, Motiva, and Philips 66 are all within a couple of miles of Purely Storage Groves and Nederland. The city of Port Neches has a proposed redevelopment of the riverfront area which would add among items pedestrian access, commercial outlets, entertainment venues and lodging to the Neches River waterfront area. The Nederland facility is across the street from Nederland High School which is one of the most prominent southeast Texas high schools. The Nederland annex location is conveniently positioned from the off ramp on State Highway 287 with traffic counts of 44,898 vehicles per day. The Groves Facility fronts on Gulfway Drive (State Highway 87) about one mile from Twin Cities Highway (347) which is a major intersection near the Port Arthur and Groves border. The Groves facility enjoys traffic counts of 25,792. VALUE ADD OPPORTUNITY // The Purely Storage Portfolio is approximately 73 percent physically occupied giving a new operator tremendous upside with street rates that are below market in many cases. At just over $53/NRSF plus expansion land in Orange, investors should find the basis extremely attractive. Additionally, the owner has spent approximately one million dollars in CAPEX across the portfolio over the past four years which doesn’t include a nearly 17,000 feet covered parking expansion project that is currently underway in Orange.

Exclusively Listed By

Financing By

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