Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present qualified investors with the opportunity to acquire an Advantage Storage-operated facility (the “Property” or “Offering”), a premier Class A self-storage asset located in Austin, Texas.

Delivered in late 2023, the Property is approaching physical stabilization, and is currently at 83.6% occupancy. The property consists of two three-story, fully climatecontrolled self-storage buildings containing approximately 77,441 rentable square feet across 632 units, complemented by a separate leasing building. Featuring institutional-quality construction and modern design, the asset offers investors a best-in-class self-storage facility in one of the nation’s most desirable markets.

The Property is situated within one of the highest barrier-to-entry self-storage markets in the country, characterized by a severely undersupplied inventory of approximately 2.85 square feet per capita and only two competing facilities within a three-mile radius. Additionally, the submarket has experienced significant population growth in recent years, supported by the multifamily development boom of 2022 that introduced a substantial influx of new residents to the area. These favorable competitive and demographic dynamics support rental rates that exceed many comparable markets, with area rents averaging approximately $2.85 per square foot. As the Property continues to stabilize, ownership has a clear opportunity to drive revenue growth through strategic rental rate increases and continued optimization of existing customer rate increases (ECRIs).

Overall, the Offering represents a compelling opportunity to acquire a newly developed, institutionally owned Class A self-storage facility in an affluent, high-growth submarket of Austin. Supported by strong demographics, limited competition, and significant revenue upside potential, the Property is well positioned to deliver attractive long-term value creation.

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Attributes

Year built

2022

Land area gross

13.88 acres

NRSF

77,441

Units

632

Occupancy

83.6%

Media

Investment highlights

WELL LOCATED, PREIMER CLASS A SELF-STORAGE ASSET

Completed in late 2023, this Class A self-storage facility offers 77,441 SF across 632 climate-controlled units in two three-story buildings, plus a 900 SF office on 13.88 acres. Located along Highway 2222 with 43,000+ VPD visibility, the Property features institutional-quality construction and serves one of Austin's highest-income submarkets.

STRONG SURROUNDING DEMOGRAPHICS WITH GROWTH

The Property serves an affluent three-mile radius with average household income of $214,860 and 42,491 residents. This combination of strong population density and household wealth supports premium rates, ECRI growth, and stable long-term cash flows.

SIGNIFICANT REVENUE UPSIDE

Currently 83.6% occupied and approaching stabilization, the Property offers upside through continued lease-up, rental rate increases, ECRI implementation, and operational efficiencies. Investors can capitalize on Austin's strong fundamentals with near-term growth potential and long-term cash flow stability.

HIGH BARRIER-TO-ENTRY MARKET

The Property benefits from a highly supply-constrained market with only 2.85 SF per capita within three miles—significantly below typical Austin levels—and just two competing facilities in the trade area, enhancing pricing power.

Exceptionally high barriers to entry including restrictive zoning, environmental protections, and HOA restrictions severely limit new development. The Property represents the only viable site along the Highway 2222 corridor, requiring over two years for entitlements, while similar constraints throughout the trade area protect against future competition. As a newly developed Class A facility in a premier Austin submarket, the Property offers significant rental rate growth and operational upside with minimal risk of new supply.

OPPORTUNITY TO CAPITALIZE ON STRONG MARKET RENTS

The market achieves average rental rates of $2.85 PSF, reflecting affluent demographics, limited competition, and strong demand. As occupancy stabilizes, ownership can optimize rates and capture embedded pricing upside in this high-growth Austin submarket.