SOLD - GNG Mini Storage

Stabilized assets with attractive in-place yield

Stabilized assets with attractive in-place yield
Priced below replacement cost
Well-positioned assets within their local markets
Upside available through revenue management and aggressive tenant insurance program
Proven remote management success

GNG Storage is located outside of Elgin, OK, which is 15 miles from Lawton, OK, one of the largest cities in Oklahoma. Elgin has been remotely managed for years and maintained a consistently, high occupancy with that operational strategy. It’s a low maintenance facility which adds to the attractiveness of the property.

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

• Effective tenant insurance sales strategy (sold less than $1,000 total for the trailing 6 month/forward 6 month analysis).

• Value-add upside through revenue management.

Considering the immediate scale, price per SF below replacement cost, attractive in-place yield with realistic room for improvement, high barriers to entry based on market rental rates and construction costs, this is a compelling value-add investment.