Investment Overview

StorageHome is 29,800 rentable-square foot facility comprised of 26 single-story buildings housing 191 non-climate drive-up storage units. The storage buildings were built in 1979, then expanded in 2007. The facility rests on approximately 6.39 acres distributed between two different parcels directly across the street from each other on Interstate-45. The parcel on the east side of I-45 also includes approximately 0.40 acres of raw land that could be expanded upon. Additionally, the property features a personalized keypad gated entry, barbed chain-link perimeter fencing, and 24/7 video surveillance. Only 15-miles from Downtown Dallas, Wilmer is a logistics hub that has attracted fortune 500 companies like Procter & Gamble, Unilever, Ace Hardware, and Medline because of its strategic highway and railway access. StorageHome benefits from the excellent visibility I-45 provides, upon which approximately 75,000 vehicles travel per day, and is the only storage facility in the city of Wilmer and within a four-mile radius. With over 25 new industrial complexes planned and under development, Wilmer is poised for an influx of new businesses, jobs, and demand for housing. Lennar Homes is currently constructing 353 new single-family homes less than one-quarter of a mile away on East Belt Line Road, and a 348-unit apartment complex directly off I-45 is currently under construction. Additionally, according to Dallas Business News, Wilmer plans a 70-acre mixed-use development project which includes housing, hotel, retail, and office/warehouse only one-quarter of a mile away located on Belt Line Road off northbound I-45. The current owner remotely-manages the facility but periodically pays a local individual to service tenants and make repairs on an as-needed basis. StorageHome currently maintains a physical occupancy rate of 81 percent, even though its street rates are approximately 25 percent below-market. At $73.83 per rentable-square foot, a new investor will be presented with an opportunity to increase revenues and physical occupancy, with an option to add further value by expanding upon the existing raw acreage included in the sale.