FreeUp Storage Aspen Park
Conifer, CO
SIG acquired a 128 unit, existing self-storage facility, in Conifer, Co which is 25 miles southwest of Denver, CO. The facility conveyed a ½ acre vacant lot that was zoned residential. SIG rezoned the lot to allow for the development of an additional 14,000 square feet to double the size of the facility. The facility is 95% occupied with strong rental rates and there are high barriers to entry for new storage development projects. The expansion is underway and expected to open in the summer of 2021.
-
Strong Market Fundamentals
-
14,000 GSF
-
Expansion and Operational Improvements
-
Economies of Scale with other Spartan Properties
FreeUp Storage Aspen Park
Commercial development involves the planning, construction, and successful launch of a self-storage facility. Operation then entails managing daily activities, including unit rentals, tenant relations, and site maintenance, all while implementing effective marketing strategies. The aim is to optimize occupancy and revenue, ensuring the facility's long-term profitability and market competitiveness within the commercial real estate sector.
Target Timeline
10-year project hold with 100% refinance of investor capital in year five.
Next Steps to Invest
Get Started
Featured On
