Extra Space Storage Portfolio - 3 Property Investment Opportunity

INVESTMENT HIGHLIGHTS

Institutional, quality portfolio with substantial scale
Located in Edmond, a growing suburb of the Oklahoma City MSA, a top 40 market
Operational value-add opportunity with upside available through revenue management, tenant insurance sales and professional third-party management

GENERAL DESCRIPTION

The Shawnee portfolio offering is a 195,104 rentable square foot (including open parking) value-add portfolio consisting of two (2) properties and located in Shawnee OK, a suburb of Oklahoma City, a top 40 market. The assets are a combination of on-site manager and remotely managed, providing an attractive amount of scale for existing and new market participants. All facilities are equipped with control system access and security cameras. The cumulative parcels measure a combined 20.67 acres.

The opportunity provides further upside through a combination of realistic, achievable strategies:

Effective tenant insurance sales strategy (sold less than $1,000 total in 2020 across the almost 1,100 unit portfolio),
Revenue Management (Rates for MacArthur haven’t be increased since 2018)
Continued lease of recent expansions at Wolverine and MacArthur street
Remote management (both sites have kiosks)

Considering the immediate scale, attractive in-place yield with realistic room for improvement, high barriers to entry based on zoning, density, market rental rates and soaring construction costs, this is a compelling value-add portfolio in a major metro market.

Extra Space Storage - Edmond Rd.

Extra Space Storage Storage currently contains 556 units within 66,400 rentable square feet (including open parking) and an on-site property office. It possesses prominent frontage with signage and is located on W Edmond Rd. The property is sited on 6.48 acres on the western side of Edmond with good demographics ($76,468 Average HH Income) and population (147,714) within the five-mile trade area. Some of the amenities include:

Drive Up Access
1st Floor Access
24 Hour Access
Vehicle storage
On site resident manager
Video Surveillance
Electronic Gate Access
Extended access hours are standard with 24/7 access available
Sturdy moving carts for heavy, bulky items
Covered parking to keep you shaded and dry during visits
Wide-drive aisles to accommodate large moving trucks

Extra Space Storage - Danforth

Extra Space Storage - Danforth currently contains 459 units within 54,884 rentable square feet and an on-site property office. Located on W Danforth Rd between Fretz Ave and N Blvd St, Extra Space Storage serves residents of Edmond. The facility is located across from Edmond North High School and Gracelawn Cemetery. The property is sited on 3.71 acres and is part of the Oklahoma City MSA with good demographics ($82,424 average HH Income) and population (136,949) within the five-mile trade area. Some of the amenities include:

Drive Up Access
RV Parking
Climate Controlled
1st Floor Access
24 Hours access

Extra Space Storage - Waterwood

Extra Space Storage - Waterwood currently contains 460 units within 63,250 rentable square feet and an on-site property office. Located just off of Waterwood Parkway and just 15 miles north of Oklahoma City, a major MSA. The facility is located next to the University of Central Oklahoma. The property is sited on 3.71 acres and is part of the Oklahoma City MSA with good demographics ($79,337 average HH Income) and population (130,611) within the five-mile trade area. Some of the amenities include: