Life Storage (Managed)

Financial Highlights 

• Achieved physical stabilization within 18 months of 2021 expansion.
• Opportunity to capture an additional $11k in Tenant Insurance Income.
• Rent increases will allow for $90k+ to be secured in additional GPR.
• 90%+ physical occupancy closing out 2022 year.

Property Highlights 

• Multi-story, Class A institutional asset.
• Recent $4M expansion increased unit capacity by 175% – 263 units added.
• 10-year partial tax exemption for renovations done to commercial property.
• 440 NRSF occupied apartment located on site.

Market Highlights 

• $25 billion allocated to improve housing developments across NY. - $172.5M of which is attributed to projects within the Rochester area.
• Favorable self storage supply dynamic.
• Less than 5 square feet per capita within a 5 mile radius.
• Over 1.5% positive population growth within 3M radius.
• Strong traffic counts: 32,524 VPD off of NY 441 & 6,829 VPD off of Penfield Rd.

Location