Take advantage of an exclusive opportunity to acquire an eight-property storage portfolio in the Memphis metropolitan area. Located along the Mississippi River, the Memphis metropolitan area comprises three Southern states: Tennessee, Mississippi and Arkansas. The total population is 1.35 million residents. With a low cost of living, a temperate climate and no shortage of things to do, it’s no surprise that the Memphis metro is currently the third-largest housing market among millennial buyers.
In total, the portfolio comprises 4,007 units, across eight assets and more than 488,208 net rentable square feet in the states of Tennessee and Mississippi. The assets are all located along major highways for easy access and maximum visibility. Many are also situated within a short drive of new multifamily housing developments.
These clean, well-maintained facilities offer perks like climate-controlled units, RV, boat & auto storage and more. They are protected by gated access and 24/7 video surveillance. Currently, properties are 83% physically leased with economic occupancy at 86%.
All told, this sale presents a unique opportunity to acquire a nearly stabilized portfolio with substantial upside by raising occupancy and market rent growth based on strong supply/demand fundamentals.