overview video
investment highlights
- NEW CLASS A SELF-STORAGE DEVELOPMENT // 816-unit, 102,300 NRSF facility under construction on approximately 4.11 acres in Richmond, Texas.
- ATTRACTIVE UNIT MIX // Upon completion, the facility will include 87,150 NRSF of climate-controlled units and 15,150 NRSF of non-climate drive-up units across three single-story buildings.
- HIGH-QUALITY FACILITY FEATURES // Planned amenities include an attractive façade, gated keypad entry, full-service on-site management office, 24/7 video surveillance, concrete driveways, and roll-up doors.
- STRATEGIC GROWTH LOCATION // Positioned near The George, a 1,500-acre future Johnson Development master-planned community, and directly across from a major Lamar CISD educational complex.
- STRONG VISIBILITY AND ACCESS // Frontage along FM 2977/Minonite Road, with traffic counts of approximately 6,687 vehicles and convenient access toward I-69/US 59.
- LIMITED CLIMATE-CONTROLLED COMPETITION // According to Yardi Matrix, no competing self-storage facility is located within a three-mile radius.
- FAVORABLE DEMOGRAPHIC TAILWINDS // The Richmond/Rosenberg trade area benefits from nearly 11 percent projected five-year population growth and average household income of approximately $117,000.
- COMPELLING RATE UPSIDE // StorTrack reported walk-in average rates of approximately $1.43, supporting the achievability of projected year three in-place achieved rates of $1.17.
- ATTRACTIVE INVESTOR OPPORTUNITY // An investor has the opportunity to acquire a newly developed Class A self-storage asset in a high-visibility, supply-constrained, rapidly growing Greater Houston submarket.
property summary
Rosenberg Self-Storage CofO is a 816-unit, 102,300 net rentable square foot self-storage facility under construction located in Richmond, Texas. The property sits on approximately 4.11 acres of land and upon completion will have three single-story self-storage buildings containing 87,150 NRSF of climate control units and 15,150 NRSF of non-climate drive up units. Rosenberg Self-Storage CofO will have an attractive façade along with many amenities commonly found in Class “A” self-storage facilities. There will be a gated entry with a digital keypad, a full-service on-site management office, 24/7 video surveillance throughout the facility, concrete driveways, and units with roll-up doors.
Rosenberg Self-Storage CofO fronts on FM 2977 (Minonite Road) which sees traffic counts of 6,687 and takes nearby residents to I-69/US59. The main driver for the Rosenberg Self-Storage CofO trade area will be The George, which is a 1,500 acre future Johnson Development Master Planned Community. Furthermore, Rosenberg Self Storage CofO will sit directly across the street from a large Lamar Consolidated Independent School District educational complex that includes Randle High School, Wright Junior High, and Steenbergen Middle School.
According to Yardi Matrix, there isn’t a competing storage facility within a three-mile radius of Rosenberg Self-Storage CofO. Having similar success developing and selling several other comparable projects around the Greater Houston area the seller is understandably quite bullish on this Richmond/Rosenberg location. This southwest suburban area has a five-year population growth projection of nearly 11 percent and the area around Rosenberg Self-Storage CofO is one of the focal points of the growth. Rosenberg Self-Storage CofO will allow an investor to acquire a new class A self-storage asset in a high visibility location in a rapidly growing area of Greater Houston. Between limited climate control supply, a submarket where the average household income is nearly $117,000 and according to StorTrack a trade area that boasts walk-in average rates of $1.43, the projected year three in-place achieved rates of $1.17 at Rosenberg Self-Storage CofO seems achievable and would yield a healthy return for an investor.
