Investment Overview

The FreeUp Storage Portfolio consists of three individual facilities in Longview, Texas and one facility in nearby Tyler, Texas. Combined, the portfolio contains 235,383 rentable-square feet of storage spread out between 1,695 units, the vast majority of which are non-climate drive-up. Each facility features the typical amenities one would expect to see in a professionally managed property, such as garage-style roll-up doors, concrete driveways, perimeter fencing and lighting, personalized keypad gated entry, a professional leasing office, and 24-hour video surveillance cameras. In addition, because each facility is located on one of the city’s primary thoroughfares, the facilities are both easily visible, and easily accessible. With a population approaching 600,000, the greater Tyler / Longview Metropolitan Statistical Area (MSA) serves as the primary population center and economic center of East Texas, partially due to its strategic location between Dallas, Houston, and Shreveport. Easy access to Interstate-20, US Highway 80, and US Highway 69 has turned the MSA into a pivotal logistics hub that leans heavily on the transportation and infrastructure sectors. Tyler’s economic growth can also be attributed to its investment in the health care and education sectors, as it is home to the University of Texas at Tyler, Tyler Junior College, UT Health East Texas, and CHRISTUS Mother Frances Hospital. Longview also benefits from these industries, but its economy is more heavily weighted toward the oil & gas and manufacturing sectors. When you combine the robust economic fundamentals with the high quality of life and abundance of recreational activities for which Tyler & Longview are well known, it is easy to see why the area has experienced such a significant population increase over the past decade. These trends appear poised to stay for the long-term, as populations from larger cities in Texas and across the country continue to migrate toward secondary markets in search of a healthier work / life balance. Offered for $15,000,000, the portfolio is available at only $63.73 per rentable-square foot (replacement cost), providing investors with a unique opportunity to acquire an established, well-maintained portfolio in a burgeoning Texas market. Given the trade area’s demographic and economic trends, it is reasonable to assume systematic increases in occupancy and rental growth will be attainable immediately upon purchase.