Criteria for Square Storage Re-Development Acquisitions:
We’re seeking freestanding and multi-tenant neighborhood, community and regional shopping center properties and Flex, R&D and Light Industrial buildings in infill/mature trade areas in the Midwest, Upper Midwest, Southeast & Middle-South and Pacific & Western US for fee-simple purchase. We need at least one dark anchor/tenant space (box) in need of backfilling where we can operate our concept needing an area of at least 40,000 SF. We own and solely control our anchor concept that backfills the dead anchor slot.
What we’re looking for:
- Type: Freestanding, Neighborhood, Community and Regional Retail Properties ranging from 40,000 to 300,000 SF (GLA).
- At least (1) dark anchor box in the property with a minimum 40,000 contiguous square feet available.
If Dark Anchor Space is 40,000 to 60,000 SF, all or most of the building must be at least 18’ in height (clear-height) from the finished floor (f.f.e) to the bottom of the roof deck (preferably to the bottom of the ceiling joists).
If Dark Anchor Space is >70,000 SF, building height is less relevant for our concept and developments.
Flex, R&D and Light Industrial Building Properties:
- Type: Flex, R&D and Light Industrial Buildings of at least 40,000 SF (GLA) (preferably freestanding).
- Minimum clear height elevation of 18’ in warehouse areas of the building.
- Land Size: 3 acres and up in total land size; we see expansion land as “a plus”.
- Parking Fields: Ample parking spaces meeting code requirements for the area.
Existing Self Storage Properties
At least 20,000 square feet with extra land to expand to 50,000 square feet+.
50,000 square feet plus properties that need updating.
Mom and Pop properties are welcome with poor management and books.
General Demographic Criteria
Areas: Typically, city population size of 50,000 people and greater; the denser, the better.
Minimum Market Area Population of 25,000 people in the property’s primary trade area,
1-3 Mile Incomes of not less than 75% of the market’s/region’s Median Income Level (typical $50K/Year Income/Household and higher),