Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to offer to qualified investors the opportunity to acquire Stewart & 89th Self Storage facility (the “Property” or “Offering”), a well-located self storage facility situated within the Galveston region directly adjacent to the Galveston beachfront. The market benefits from limited competitive supply and sustained storage demand. The Property consists of multiple single story, climate-controlled drive-up buildings and multiple single-story climate-controlled and non‑climate drive‑up buildings, encompassing approximately 83,223 net rentable square feet across 787 total units. This includes 505 climate-controlled units, 276 non‑climate units, and six parking units. Additionally, the Property generates stable, long-term ancillary income from an apartment lease located adjacent to the leasing office. Originally opened in 1998, the facility underwent expansions in 2002 and 2007. While ownership has invested in the asset, and cash-flow remains very strong, the property has not yet achieved consistent physical or economic stabilization, providing room to grow. A new owner will benefit from immediate in-place cash flow with a clear path to value creation through continued lease-up to physical stabilization. Further upside exists through the implementation of ECRIs, providing additional revenue growth following stabilization. Overall, the Offering represents an attractive opportunity to acquire a well-positioned self storage facility at a compelling basis, with significant value-add potential in a supply‑constrained coastal Texas market.

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