Overview Video
investment highlights
- OPERATIONAL EFFICIENCY AND SHARED MANAGEMENT POTENTIAL // The two well-located facilities are approximately 6.5 miles apart. The properties may be purchased individually or as a two facility portfolio to take advantage of their strategic proximity.
- LOW COST BASIS // The properties are being offered at a combined $32 per NRSF. Achieved rents are about 60 percent of what REIT-managed facilities are realizing in the market.
- INFILL LOCATION WITH HUGE VISIBILITY // Both facilities have significant economic demand drivers. Storage Plus I is on College Street, one of the busiest throughfares in the Golden Triangle with daily traffic counts of 23,000. Storage Plus II is next to Lamar University and has frontage on State Highway 287.
- BEAUMONT, THE HUB CITY OF THE GOLDEN TRIANGLE // The facilities are close to the Port of Beaumont which is one of the largest ports in the United States along with downtown Beaumont.
- KEY FEATURES & AMENITIES // The facilities feature many amenities such as an onsite manager’s office, concrete rives, roll-up doors, chain-link fencing with digital keycode access gate, and video surveillance throughout.
- PORTFOLIO POTENTIAL // This offering is part of the Storage Plus and Top Lock Storage 5 State – 25 Property Portfolio, but can be purchased individually.
property summary
The Storage Plus of Beaumont Portfolio includes two self-storage facilities located approximately 6.5 miles from one another in Beaumont, TX which is 75 miles east of Houston. The properties sit on a combined +/- 3.91 acres of land and have 15 single-story buildings consisting of 355 total units and a combined 40,355 NRSF. There are three outdoor parking spaces and one 840 square foot warehouse unit included in the unit mix. The facilities have numerous amenities including but not limited to video surveillance, gated entries with digital keycode access, roll-up doors, concrete driveways, and a full-service onsite manager’s office at each location.
Both facilities are in well populated areas (+/- 37,000 at Storage Plus of Beaumont I & ~ 23,000 at Storage Plus of Beaumont II), on major thoroughfares and feature solid nearby consumer demand drivers. Storage Plus I (College Street) is in the midst of a heavy retail corridor in west Beaumont and fronts on College Street with daily traffic counts of around 24,000. Storage Plus II (Lamar University) is next to Lamar University and fronts on Highway 287 with traffic counts of nearly 60,000.
Offered at slightly over $32 per NRSF, The Storage Plus of Beaumont Portfolio is a value add opportunity. While Storage Plus of Beaumont II is over 80 percent physically occupied, Storage Plus of Beaumont I is only about 45 percent occupied. Achieved rental rates are approximately 60 percent of what REIT-managed facilities are realizing in the market which provides a favorable growth outlook.
The two properties may be purchased individually or as a package.
