Shannon Mini Storage

Shannon Mini Storage is a value-add self storage facility located in Union City, GA which is a key component of the Atlanta MSA. This facility contains a total of 439 Non-Climate controlled spanning 51,252 Net Rentable Square Feet across six single story block buildings. Recently, the facility underwent a capex program, with asphalt repaving and new paint. Shannon Mini Storage offers customers gated keypad access, on-site management and security cameras throughout.

Currently, Shannon Mini Storage sustains strong physical occupancy of 96%, with an economic occupancy of 74%, which indicates ample opportunity to increase rates on existing tenants. Beyond that, the asking rates at Shannon Mini Storage are far below comparable averages, with a GPI of  $8.97 PSF, with competitor asking rents ranging from $16.50 to as high as $29 PSF for non climate controlled units. This rental rate upside is bolstered by the favorable supply dynamic within the three and five mile trade areas, with only 4.9 SF/Capita in three miles and 6.2 SF/Capita in five.

Shannon Mini Storage benefits from its visibility, signage and access along GA-138, which witnesses traffic counts in excess of 28,000 VPD. Further, the facility is located among a number of national retailers and large employers, including distribution centers for Amazon, Kraft Foods, XPO Logistics and Atlanta Metro Studios, which has the two largest purpose built sound stages in North America.

Shannon Mini Storage offers new ownership a number of operational upsides, as the facility is currently managed without a management software, does not offer online rental capabilities, and does not manage asking or in-place rental rates. Shannon Mini Storage is being offered for $5,350,000 or $104.38 Per NRSF.