Investment Overview

Lufkin Climate Controlled Storage is a 21,064 net rentable square foot self-storage facility located in Lufkin, Texas. The property sits on 1.15 acres of land and consists of 129 climate control units. The facility has four single story buildings with the first three buildings being constructed in 2019 and the last one opening in summer 2022. Lufkin Climate Control Storage offers several amenities found in class A storage facilities including, but not limited to video surveillance throughout the property, storage buildings with keycode access, roll up doors, and concrete driveways. Situated approximately 120 miles north of Houston, Lufkin is the retail and medical hub of a 12-county region in east Texas known as the Piney Woods. Lufkin is the county seat of Angelina County and the local economy benefits from several strong industries such as timber manufacturing, food products, and aerospace and defense. The property fronts on US Highway 69 which is a main highway through east Texas connecting Beaumont to Tyler and the facility benefits from daily traffic counts of 16,542. The facility is about five hundred feet from the entrance to the Idlewood neighborhood which is an approximately 400-acre residential community on Lufkin’s northwest side. The asset should provide an investor with a newly constructed facility that has enjoyed a strong lease up since the current owner took over in June of 2021. Despite managing the property from Florida, the owner saw occupancy rise from 30 percent to 94 percent in his first 12 months of ownership. The rents were raised to market standards in the process. The opportunity to lease up the final phase awaits the buyer and achieve an unlevered end of year one return of 6.61 percent.