Twenty Lakes

In 2019, we were engaged by a real estate private equity fund to evaluate their unoccupied or under-utilized industrial and warehouse portfolio for adaptive re-use into self-storage. We evaluated 12 properties representing over 1 million square feet in eight different states.

We conducted our evaluation of each property in two stages to ensure cost efficiency for the client. In the first stage, we provided detailed zoning code analysis, market supply/demand studies and gauged management interest from publicly traded, third-party management companies.

Stage 2 involved the evaluation of any property that met basic criteria set by the client in stage 1. This stage involved research of local competitive rents, a conceptual building plan, a conceptual development budget including hard costs, a conceptual pro forma, and a SWOT analysis.

We presented reports for each property to the client along with a “go / no-go” recommendation.