Financial Highlights

• 9.22% increase in Gross Income and 12.32% increase in NOI since April 2023
• 16.00% increase in Gross Income and 23.40% increase in NOI since September 2022
• 82.66% increase in Gross Income and 185.40% increase in NOI since September 2021

Managed By Largest Self Storage Operation in the U.S.

• Upon its merger with Life Storage, Inc., Extra Space Storage became the largest storage operation in the U.S.
• This merger will make EXR the biggest player in the self-storage market with 12% of the market share
• The combined company is expected to have a pro forma equity market cap of approximately $36 billion and total enterprise value of approximately $47 billion.

New High Quality Self Storage Facility

• The Class A institutional asset was recently constructed in 2019
• High quality concrete and steel construction
• The newly constructed self-storage facility benefits from 100% climate controlled units
• Variety of unit sizes from 5 x 5 to 20 x 20

Historically High Occupancy

• SF Occupancy increased 13% in 2023. Historically high occupancy levels with the 14-month average of 86.15%
• We estimate a very realistic and achievable stabilized occupancy between 92% and 94% based trends and conversations with Extra Space Storage management

Opportunity to Increase Investment Return

• An investor can increase overall return by increasing occupancy to a conservative stabilized 90% occupancy.
• Potential rents per square foot have the ability to steadily increase by an average of approximately $3 psf, further increasing an investors overall return on investment

Passive Investment

• Ideal investment for any passive investor – minimal landlord obligations
• Any investor will benefit from the management by Extra Space Storage, a best-in-class company that handles all day-to-day activities including maintaining the subject property
• Extra Space Storage provides thorough monthly financials and reports creating full transparency to the health of the facility
• The new high-quality construction eliminates any significant capital expenses in the near future for any investor

Phenomenal Demographics

• 278,375 population in 5-mile radius
• 42% annual population growth rate between 2020-2022 in 1-mile radius
• 2022 median age of 37 years old
• $135,756 household incomes in 5-mile radius
• 34% annual household income growth rate between 2020 – 2022

High Traffic Along Major Corridor to Highway

• The subject property benefits from its ideal location along the highly trafficked Bethany Drive with 35,610 cars per day
• Bethany Drive is a major thoroughfare that connects residents and commuters to Highway 75, the major highway that connects Allen to downtown Dallas

Signalized Intersection – Multiple Access Points

• Located at the signalized intersection of Bethany Drive and S. Greenville Avenue providing multiple ingress and egress points of access, imperative for self-storage clients

Watters Creek Village – 52 Acre Mixed Use Development

• Extra Space Storage is ideally located across Highway 75 from this unique, resort-style mixed-use development
• This major trade area draw includes several retail options, restaurant, office space and residential lofts – ideal trade area generator for a self-storage facility
• Watters Creek is anchored by Market Street Grocery, Cheesecake Factory, PF Chang’s, Mi Cocina, Fish City Grille, DSW Shoe Warehouse and several other nationals
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