REIT MANAGED 3-PROPERTY NEW YORK CITY PORTFOLIO

On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, the REIT managed three property, New York City portfolio. Located in Brooklyn, Queens and The Bronx, the portfolio represents a rare opportunity to purchase cash flowing self-storage assets across three boroughs.

Located at 160 John St., Brooklyn; 3719 Crescent St., Long Island City and 1045 Webster Ave., Bronx, the portfolio consists of 154,592 rentable square feet among 3,665 units. All of the facilities have recently been subject to capital improvements including elevator overhauls, improved unit mix, roof repairs and cosmetic and structural improvements. In total over $2,600,000 has been spent by Ownership over the last 3 years. While these capital projects have produced a drag on trailing revenue, as some units were placed out of service or with limited access due to the nature the work, they have positioned the facilities for future gains in per square foot revenue and cost savings. All properties benefit from cell tower leases that contain yearly escalation provisions, while the Crescent St. property is also subject to an Industrial and Commercial Incentive Program tax credit with 17 years remainingThe Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale the Space Shop Portfolio. This presents a unique opportunity to acquire five (5) physically stabilized self-storage projects in densely populated Southern markets. The Portfolio encompasses up to 2,615 rentable units in high-visibility locations where self-storage is in near-constant demand and driving excellent yields.