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Texas is one of the nation’s fastest-growing states, seeing an impressive 1.6% growth in population from 2021 to 2022. Reaching a population of over 30 million in 2022, Texas now stands as the second most populous state in the country with more people moving there every day. Both businesses and individuals are flocking to the state due to its business-friendly environment, no personal income tax, limited regulation, and flourishing state economy. The Houston market is emerging as a hub for technology companies and startups, as well as being home to the Texas Medical Center, the largest medical complex in the world. Dallas has also seen a recent mass inflow of technology companies, as well as a growing logistics sector due in part to its central location and proximity to major highways and airports.
The Plano property is located in the Dallas-Fort Worth MSA, just over a 30-minute drive from downtown Dallas. Located at 1230 Shiloh Rd, the facility has easy access to the North Central Expwy and President George Bush Tpke, major highways into and around downtown Dallas. There is a strong demographic makeup within a three-mile radius, boasting a median HH income of $91,930 and population of 91,661 residents. The 27,450 net rentable square foot facility offers a wide variety of unit sizes, made up of 111 climate-controlled elevator access units, 99 non-climate first-floor units and 73 drive units, totaling 288 storage units and 5 parking spaces. The facility currently has a physical occupancy of 91%.
Just South of downtown Houston, the 11539 Canemont St. property offers convenient access to major highways, being situated just under a half mile from US 90 and a mile to Sam Houston Tollway. Located in a densely populated trade area, there are 143,314 residents within a three-mile radius, partnered with a below-average supply per capita for the state of Texas. The facility totals 69,285 net rentable square feet, including 431 drive-up units, 12 non-climate first-floor units and 2 parking spaces. The facility is currently 96% physically occupancy.
The College Station property is located an hour and a half north of Houston, in the quickly growing city of College Station, TX. The facility is just off the main thoroughfare, Texas Ave, which sees an average of 42,604 vehicles daily, and is situated just a mile down the road from the major university of Texas A&M. The facility resides next to the largest university in the country with an enrollment of over 73,000 students and a over 102,847 people within a 3-mile radius. The 65,945 net rentable square foot facility offers 498 units, made up of 415 drive-up and 83 climate-controlled first-floor units. This location is currently at 84% physical occupancy.
The Conroe facility is located just north of downtown Houston, approximately 30 minutes from the city’s center. Located at 15891 I-45 S, the facility is directly along a major highway that feeds into the heart of Houston and sees an impressive average daily traffic volume of 173,872 vehicles. There is a population of 42,892 within a three-mile radius, boasting an excellent median HH income of $111,630. Totaling 44,530 net rentable square feet, the facility includes 156 climate-controlled units, 157 drive-up units, 108 parking spaces, and a cell tower. Possible expansion opportunity by converting the boat/RV parking into traditional storage. The facility currently stands at 85% physical occupancy.
Located at 3735 Mangum Rd, just over a half mile from the major US highway 290 and only a 15-minute drive into the heart of downtown Houston. The facility has excellent visibility from Mangum Rd and is situated next to a shopping center with retail and restaurants. The facility has seen exterior upgrades as well as a modern keypad-protected gate system. The 30,063 net rentable square foot facility includes 135 non-climate first floor units, 142 non-climate lift accessible units, and 56 convenient drive-up units. The facility is currently at 92% physical occupancy.
Take advantage of the unique opportunity to acquire five established facilities with strong historical operating performance as well as significant rate and occupancy upside in one of the nation’s fastest-growing states.