South Georgia Self Storage Portfolio UNDER LOI

Lake Park Storage is a 1,466-unit self-storage property located in Albany, GA. The property was built out in phases starting in 2004, with recent expansions as current as 2023. Physically stabilized, the property is composed of a variety of climate and non-climate units, featuring a Nokē Smart Entry security system.

Live Oak Storage is a 777-unit self-storage property located in Moultrie, GA. The property was built out in phases starting in 2009, with recent expansions as current as 2022. Physically stabilized, the property is composed of a variety of climate and non-climate units, featuring a Nokē Smart Entry security system.

MARKET HIGHLIGHTS

Opportunity to control the market with two premium sites exceeding all competitors in all aspects: quality, scale, unit types, and customer features. 

$70M in developments in downtown Albany, GA -- projects include adding apartment units, commercial space and a food hub, along with health care and retail developments. 

Both locations benefit from excellent visibility with strong traffic flow in their prominent areas -- 17,200 VPD off of Gillionville Rd and 16,500 VPD off of US Hwy 319 respectively. 

FINANCIAL HIGHLIGHTS

Seller delivering Live Oak expansion at certificate of occupancy for an additional $160,000 GPR increase. 

Current operator has leased and maintained strong occupancy levels, historically averaging 95% physical occupancy, with minimal advertising expense.

Opportunity to implement institutional operations, improve marketing, and reduce gap between physical and economic occupancy.

PROPERTY HIGHLIGHTS

Two turn-key Institutional quality assets, well-maintained with no outstanding cap-ex items. 

Legacy assets built in several phases over the last twenty years, strong community presence with stabilized historical cash flow. 

Both sites feature Nokē Smart Access units for both climate and non-climate units, a substantial technology benefit for both management and customers.