Tupelo, Mississippi Storage Portfolio

Below replacement cost offering at $40.77 per square foot for a mix of climate and non-climate controlled product
Significantly below market rental rates. Room to push by over 20% on some unit sizes
Over $150,000 in CapEx put into the properties since 2023, including new roofs, cameras, fencing, gates, doors and paint
Mom-and-pop management with limited advertising being spent and current occupancy at 77%, presenting significant upside
Projected stabilized Year 3 and Year 4 returns north of 9.8%
Ability to 6x the amount of revenue produced by tenant insurance policies Income captured through tenant insurance by Year 3 stabilization
A new 149,000 square foot Target store is under construction in Tupelo, MS, with a projected October 2026 opening just under 3.5 miles from the portfolio’s Tupelo sites
Population and job growth supported by Toyota Mississippi Manufacturing Plantin Blue Springs (just west of the sites) – $1.3 billion in total investment with a $125 million expansion announced for hybrid-electric Corolla production
Benefiting from North Mississippi Medical Center in Tupelo – the largest rural hospital in the U.S. with 650 beds, serving 24 counties across north Mississippi and northwest Alabama

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