YourSpace America QOF I, LLC (“YourSpace”) is a ~$27 million project that will initially invest in 1,225 self-storage units within a Qualified Opportunity Zone in Phoenix, AZ. The new facility will be a state-of-the-art Generation V self-storage facility of institutional quality. The subject property in addition to being climate controlled, will offer a state-of-the-art security system that is professionally monitored for immediate video verification of the alarm and priority police response to any unauthorized intrusion. Groundbreaking is expected to occur in Q4 2023.  YourSpace will be a 4-floor facility with 168,599 square feet of storage units.

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Self-Storage has become one of the most desirable commercial real estate investments in America. Indeed, it has evolved into a core asset class for institutional investors, in large part due to its unmatched performance. It is regarded as a safe harbor investment. For the past 28 years, self-storage was the top performing property type in the NAREIT index, with average annual returns of 18.83% for the period from 1994-2021. Self-storage outperformed the Office, Industrial, Retail, Residential, Diversified, Health Care, Lodging/Resorts, Mortgage REIT, Timber, Infrastructure, Data Centers, and Specialty sectors. A recent survey by StorageCafe found that 38 percent of Americans reported being self-storage users in 2021. Breaking it down by generation, Gen Xers (54 percent) and baby boomers (51 percent) are the most likely to be self-storage users, but Millennials are starting to show a heightened interest, with 41 percent now declaring themselves to be users of the service.