Extra Space Storage (Managed)

Property Highlights 

• Class A Institutional asset with inferior competition residing in the trade area.
• Value add parcel included—14,550 NRSF of expansion on adjacent lot (2.5 acres).
• Property features enclosed vehicle pull through for convenient indoor customer loading area.
• Visibility from Highway 204 and Highway 17 with traffic counts exceeding 64,000 vehicles per day.

Market Highlights 

• Port of Savannah is expediting more than $500 million in expansion projects with investments from SJP Properties, Chesterfield, and Atalaya Capital Management.
• Visibility from Highway 204 with traffic counts exceeding 30,000 vehicles per day.
• Favorable population growth in the 1/3/5M radius.
• Various large scale commercial real estate projects underway / approved in Savannah.

Financial Highlights 

• Property achieved physical and economic stabilization within 24 months of operation.
• Achieved rents have increased 30% from Nov 2021 to Nov 2022.
• Opportunity to capture over $41,000 per year in tenant insurance revenue.

Location