This exceptional investment opportunity comprises five strategically positioned assets in Southwest Michigan, each locally operated since 2008. Seize the unique chance to acquire these geographically centralized facilities with below-market rents, poised for significant growth through professional management, facility enhancements, and advanced technology implementation.
The Cross-Creek Byron Center, part of this portfolio, was initially acquired in 2014 and expanded in 2016 with three additional buildings. Covering just over 102,000 net rentable square feet (NRSF) and offering 379 units, this location features climate-controlled first-floor spaces, non-climate-controlled drive-up units, commercial spaces, and parking spots. With the potential to convert open parking spaces into traditional or covered spaces, the facility currently stands at 73% physical occupancy.
The Portage location, acquired in 2008 and expanded in 2015, boasts a mix of 431 climate-controlled first-floor, drive-up, and parking spaces, totaling 56,860 rentable square feet. Recent acquisition of an adjacent parcel opens up opportunities for immediate expansion, given the property’s current 90% occupancy.
Cross-Creek South Haven, strategically positioned along Interstate 196, witnesses over 24,000 vehicles daily, just 2.5 miles from Lake Michigan. Acquired in 2016 and expanded in 2018, the site encompasses 39,758 rentable square feet, predominantly non-climate-controlled drive-up spaces, with larger commercial bays and some climate-controlled units. At 86% occupancy, the location benefits from high demand due to weekend vacationers and its proximity to Lake Michigan.
The Holland, Michigan site, acquired in two phases in 2010 and 2015, with an additional building added in 2017, now totals 137,804 rentable square feet across 772 units. Currently 61% occupied, this site presents a compelling opportunity for growth.
Situated 5.5 miles northeast of Cross-Creek Holland is Cross-Creek Zeeland, located along I-196 with 31,000+ daily vehicle traffic. Acquired in 2010 with expansions as recent as 2018, the property offers a mix of 528 climate-controlled first-floor, drive-up, and parking spaces, totaling 68,876 rentable square feet. Currently at 43% occupancy, this facility has promising potential for increased utilization and returns. The overall value proposition lies in the strategic locations, growth potential through expansions, and the diverse mix of storage offerings catering to varying market demands, making it an excellent investment opportunity in Southwest Michigan