Ithaca, NY

Overview

  • Type: Self storage conversion
  • Status: Active Equity Raise
  • Size: 83,000 NRSF
  • Expected LP IRR: 22-26%

 

Invest with us

Investment Thesis

The property is part of the Ithaca Mall and is situated on a 6 acres lot, 4 miles from the center of Ithaca, NY and 2 miles to Cornell University. The strategic vision for the property is that of a modern self storage, only Class A facility in the region, offering diversified solutions to the local community. Bahlmann Group will complete the redevelopment of self storage facility in two phases. The project will include climate-controlled units within the building and non-climate controlled drive-up units on a section of the existing parking areas.


Cranston, RI

Overview

  • Type: Self storage conversion
  • Status: Current Investment
  • Size: 42,000 NRSF
  • Expected LP IRR: 75%

 

www.MetroVault.com

Investment Thesis

Self storage repositioning of a gun manufacturing facility. The location benefited from its excellent visibility and proximity to major highways, underpenetrated market and strong demographic. Unique features of this property include 4 walk-in steel vaults. Value-add opportunities through partnership with solar operator, local economic development incentives and tax optimization.


Boston, MA

Overview

  • Type: Self storage conversion
  • Status: Current Investment
  • Size: 53,000 NRSF
  • Expected LP IRR: 24-27%

Investment Thesis

The repositioning opportunity lies in a 76,000 SF outdated commercial warehouse, previously occupied by Iron Mountain. Situated in a prime location within central Boston, amidst a rapidly growing neighborhood and close to major transportation routes, it boasts unparalleled accessibility. The market presents formidable barriers to entry, underscoring its potential for investment. Moreover, the area is characterized by strong demographics, indicating promising growth prospects. The property already hosts a cellular tenant and incorporates solar facilities, offering immediate value-add potential. Furthermore, the possibility of expanding the premises through acquiring adjacent properties adds to its appeal and potential for future development.


Schenectady, NY

Overview

  • Type: Self Storage development
  • Status: Current Investment
  • Size: 53,000 NRSF
  • Expected LP IRR: 50%

Investment Thesis

Development on the obsolete land purchased from NY MetroPlex. The location benefits from a central location, and close proximity to major transportation arteries, enhancing its accessibility and desirability. The property is situated in an underpenetrated market with a robust demographic profile, promising favorable conditions for investment. The returns are enhanced with economic development incentives (transferrable to buyer) and solar infrastructure. With over 50,000 NRSF of diversified storage product, there is ample space for additional facility expansion, amplifying its appeal for future development.