L&D Self Storage

Deal Highlights

• Significant Opportunity to Increase Revenue; Rental Rates are Currently 40 Percent Below the Market’s Average
• Ability to Raise the Facility’s Economic Occupancy
• Nearly-Full Physical Occupancy of 97 Percent, Justifying the Need to Raise Rates with Tenants Paying Below Market
• Prominently Situated Along NC-54/Chapel Hill Road, a Major Thoroughfare in Morrisville, Providing Excellent Visibility
• NC-54/Chapel Hill Road’s Expansion Commences in 2021 to Create Additional Lanes to Compliment the Rising Population
• Strong Population Growth of 4.67 Percent in a One-Mile Radius
• Boasts a High Average Median Income of Over $105,000 in a Five-Mile Radius
• No Future Planned Developments Within Three Miles of the Site; There is a Moratorium in Place for the Three Miles Preventing Additional Competition and Creating a Self-Storage Desert
• Morrisville Plans to Rezone the Immediate Area, Which Will Migrate the Site into the Middle of a High-Density Urban Center with High-Rise Buildings and a Light Rail Across from the Facility