|Number of units||791|
LOCATION: The property is situated at 15025 Voss Rd, Sugar Land, TX, at the intersection of Voss Rd and Addicks-Howell Rd.
ACRES: 2.203 Acres (95,963 Square Feet)
FRONTAGE: Approximately 285 feet of frontage along Voss Rd
TRAFFIC COUNT: +/- 18,200 VPD (Voss Rd); +/- 36,000 VPD (Hwy 6)
DATE OPENED: February 2020
CONSTRUCTION DETAIL: The facility consists of a single, three level building.
ELEVATOR DETAIL: Two 4,500 Pound Capacity Thyssenkrupp Elevators
CLIMATE CONTROLLED: The facility is 100% climate controlled.
FEATURES AND AMENITIES: The facility will include surveillance cameras, individual unit locks, climate control throughout, keypad entry, and on-site management.
MANAGEMENT: The property is professionally managed by CubeSmart.
SECURITY: The facility is equipped with a 24-hour video surveillance system.
OPERATION HOURS (OFFICE): Monday-Friday: 9:30am - 5:00pm; Saturday: 8:30am - 5:00pm; Sunday: 11:00am - 3:00pm
ACCESS HOURS: Daily: 6:00am - 10:00pm
OFFERING PRICE: Unpriced
RENTABLE SQUARE FEET: 94,220
EFFECTIVE RENTAL RATE: $17.24 psf
NUMBER OF UNITS: 791
OFFER DEADLINE: March 18, 2022
NEW BEST IN CLASS CONSTRUCTION
Imperial Self Storage at 15025 Voss Rd, opened for business in early 2020. The facility is
constructed to Class A standards with an assortment of modern features and amenities –
including 100% climate-controlled units and motion-detector LED lights.
EXCELLENT VISIBILITY TO OVER 54,000 VPD
Imperial Self Storage has excellent visibility at the intersection of Voss Rd (18,200 VPD)
and Highway 6 (36,000 VPD). The property is also easily accessible from both busy
STRONG DEMOGRAPHICS WITH PROJECTED GROWTH
There are over 100,000 residents with an average household income of nearly $80,000
within a three-mile radius of the property. The average household income is projected to
grow at an annual rate of 1.89% over the next five years.
EXISTING CASH FLOW WITH UPSIDE
The property is currently over 70% physically occupied and over 50% economically
occupied, even though it has only been open a short time. The property has showcased
strong revenue trends over the past 12 months and has room for rent growth as it
continues to lease up. With only one, 35,000 square foot, property in the development
pipeline, the property will be able to raise rental rates without competitors offering
discounted “lease-up” rates.
HOUSTON POST-COVID JOB AND POPULATION GROWTH
The Houston MSA created 151,800 jobs in 2021, which was Houston’s best year ever
for employment growth. In addition, Houston is projected to add another 75,500 jobs in
2022. Last year also saw Houston overtake Dallas in Fortune 500 companies with four
new headquarters - ranking 3rd in the country in total Fortune 500 headquarters.
SUGAR LAND HOUSING MARKET
In December of 2021, housing prices in Sugar Land were up 5.3% compared to
December of 2020. More importantly, homes are selling faster and more often in Sugar
Land - indicative of the job and population growth in the Houston area. Houses only
lasted 19 days on the market, which is less than half as long as in 2020. Finally, the
volume of housing has exploded, as 224 homes sold in December compared to 187 in