Low supply within 5 miles of the facility – only 7.74 square feet per capita and 1 climate-controlled competitor within 20 miles of the facilit

6.31% going-in cap rate with stabilized returns projected in the 11% – 14%+ range

Upside in economic occupancy at 64% currently

Very high returns upon economic stabilization

Recently converted facility now 81% occupied

Very attractive basis for an all climate-controlled facility