- BELOW MARKET RENTS // Featuring a wide range of sizes from 5×5 to 12×50 rents average 20 to 90 percent below market competitors. Currently, physically occupied above 94 percent a new owner could take advantage of strong physical occupancy and increase rates substantially on the existing tenant base.
- MANAGEMENT UPSIDE // Three property management groups have operated the facility since 2019. The current manager has been in place since March of 2021 and has successfully increased occupancy and asking rates. The property would benefit from a consistent management presence that is able to drive advertising and collections on existing tenants.
- STRONG POPULATION GROWTH // Located on the border of Orem and Vineyard, the facility is strategically located in the epicenter of Utah County growth. The three-mile radius is projected to grow an additional 13 percent in the next five years. The city of Vineyard has been one of the fastest growing communities in the country, growing 99 percent since 2010.
- DEMOGRAPHICS // The three-mile population is currently 86,671 with 26,765 households, and an Average Household Income of $84,338. The facility’s location is centrally located in Utah Valley with close proximity to both Brigham Young University and Utah Valley University that combine for over 70,000 students enrolled.