overview video
investment highlights
- US HIGHWAY 59 FRONTAGE // 27,000 Vehicles/Day
- 102,610 NRSF // 483 Units
- VICTORIA, TEXAS // Nicknamed the Crossroads as it is the regional hub for around 250,000 people.
- STRONG 3 MILE AVERAGE HOUSEHOLD INCOME // Inez Storage ($114,000) | Beck Road Storage ($86,000)
- EXPANSION CAPABILITY // There are close to four acres of undeveloped highway frontage land included in the opportunity.
- CUSTOMER AMENITIES INCLUDE ONSITE MANAGERS OFFICE, CONCRETE DRIVES, ROLL-UP DOORS // Security Features Include Chain-Link Entry Gate with Digital Keycode Access and Video Surveillance
- ROOFS AND BUILDINGS ARE WINDSTORM CERTIFIED TO 130+ MPH // Property took no damage during Hurricane Harvey
- NEWLY CONSTRUCTED ASSETS // Beck Road Storage was built in 2019 and 2021 | Inez Storage was built in phases from 2013 to 2018.
property summary
The Inez Storage Portfolio consists of Inez Storage and Beck Road Storage, two properties that add up to 102,610 net rentable square foot and are approximately 4.5 miles from each other. Inez, TX is on the outskirts of Victoria the hub of an area of Texas referred to as the “The Crossroads” because its location is centrally located within about 100 miles from Austin, Houston, San Antonio, and Corpus Christi. The properties sit on a combined +/- 11.17 acres of land and have 10 single story buildings consisting of 483 total units. The unit mix contains 214 climate control units, 258 drive up non-climate spaces, and 10 covered parking spaces included in the unit mix. The facilities have numerous amenities including but not limited to video surveillance, gated entrances with digital keycode access, roll-up doors, and a full-service on-site manager’s office.
Inez Storage Portfolio sits on US 59 (Senator Lloyd Bentsen Highway) which is a major interstate connecting Victoria to Houston and sees around 27,000 vehicles pass the facilities daily. The property provides a convenient location for customers coming from Victoria, Jackson and Calhoun Counties. Additionally customers from farther distances find the highway location convenient rather than towing boats and travel trailers through the big city as they make their way to the Texas Gulf Coast.
Victoria is the largest city and the county seat of Victoria County and the regional hub for a seven county retail trade area of over 250,000 people. Manufacturing, healthcare, petrochemical operations, and education are some of the employment drivers that are convenient to Inez Storage Portfolio customers. The Caterpillar Excavator Manufacturing Facility, University of Houston Victoria, Victoria College, and the Victoria Airport are minutes away from the facilities. The area also generates billions of dollars in petrochemical revenues from companies like Formosa and Alcoa which collectively employ more than 3,000 residents.
The Seller is a couple who developed Inez Storage in multiple phases between 2013 and 2018 and then constructed Beck Road Storage in 2019 and 2021. These are the only storage assets owned by the seller and they are looking to retire. In addition to implementing professional management and increasing occupancy, there is also around 3.8 acres of land with highway frontage at the Beck Road Storage location that could be used for expansion included in this offering. Additionally, the buildings and the roofs are windstorm certified to 130+ MPH. The portfolio will provide an investor a high-quality stable asset with expansion potential in a growing area.
As of December 2023, physical occupancy is approximately 79%.
