Investment Overview

Sherman Premier Storage is a 47,615-rentable-square-foot storage facility resting on approximately 5.50 acres in Sherman, Texas. Built in 2006, the property features an on-site leasing office with manager’s residence, wide concrete driveways, partial brick façade, keypad-controlled gated entry, perimeter fencing, and roughly two acres of entitled raw land allowing for by-right self-storage expansion. The unit mix includes 97 climate-controlled units, 236 non-climate drive-up units, three office suites, and 21 uncovered parking spaces. Over the past twelve months ownership transitioned to a third-party management group operating without a traditional on-site manager, and performance has not kept pace with the asset’s physical quality or competitive position. Occupancy and rental rates remain below nearby facilities despite strong location and amenities, creating a clear opportunity for a new owner to implement more hands-on management and move operations toward market norms. Combined with an attractive basis well below replacement cost — only ~$63 per rentable square foot — the offering is positioned as a true value-add opportunity rather than a stabilized yield play. Sherman, located roughly 30 miles north of Dallas along U.S. Highway 75, has experienced accelerating economic momentum following Texas Instruments’ announcement of a $30+ billion semiconductor manufacturing campus in 2021. That investment continues to drive substantial residential, commercial, and industrial development, steadily aligning the market with the growth trajectory of North Dallas suburbs such as McKinney, Frisco, and Prosper. In addition to the entitled storage expansion, the excess land provides optionality for flex, warehouse, or light-industrial uses (subject to approvals), offering multiple long-term value-creation paths in one of North Texas’ fastest-growing secondary markets.