Extra Space Storage (Managed)

• 2021 Construction, 89,048 NRSF Class A Self-Storage Opportunity in a Top 50 MSA
• Continuous month-over-month rent growth with physical occupancy still in the mid-80% range
• Achieved rents YTD are up over 13%, with more room to push rents still remaining
• Very affluent trade area as this is located in the wealthiest pocket of the Louisville MSA, with average household incomes over $138k in a 1-mile radius
• Dense population at 52,000 people living in a 3-mile radius, with annual growth of 0.7% in each of the last five years
• Expansion land remaining in the northwest corner of the property, where uncovered parking currently exists
• High traffic counts with over 57,000 cars per day passing by the facility along Gene Snyder Fwy (KY-841)
• Strategically located in an affluent neighborhood and only .5 miles from the Kroger anchored center with national retailers including McDonald’s, Starbucks, Arby’s, Taco Bell, KFC, and Valvoline all nearby, with thousands of homes surrounding it as well
• Over 8,300 units in the housing development pipeline within 5 miles, totaling over $3.4 Billion in estimated value (per TractIQ)
• Ford is investing roughly $2 Billion into the Fern Valley Road location, next door to the facility, retooling the 3M SF facility, installing the new Universal EV platform, and upgrading machinery to build the upcoming low-cost electric pickup