- CLASS “A” INSTITUTIONAL QUALITY // The 2019 construction facility offers the highest quality amenities and finishes with a desirable mix of both interior climate as well as drive up exterior unit options.
- COLORADO SKI COUNTRY LOCATION // The property is walking distance to Eagle County Airport which serves as the main airport for Vail, Beaver Creek and other Colorado ski resorts. Eagle County is a tight storage market and 50 percent of the tenants live 25-40 miles away (Edwards to Vail).
- FAST LEASE UP // Facility opened brand new in September 2019 and achieved 95 percent physical occupancy just 21 months later.
- FAST GROWING AREA // 10 percent population growth within 5-miles expected by 2026. Tesla is building a $5.2 million sales and service center half a mile away. A 591 unit housing development known as Siena Lake is under construction a mile away. Costco is also a mile away.
- MARKET’S WILLINGNESS // Street rents increased in winter 2022 and the recent achieved rates are showing the markets willingness to pay the higher rates. Average monthly per SqFt achieved rate for new storage rentals in April and May (to date) is $2.60 which is a substantial increase from the rest of the rent roll paying just $1.86 per SqFt.
- UPSIDE POTENTIAL // Continuing to increase economic occupancy given the 98 percent physical occupancy and potential to build additional storage buildings where the open parking currently is.