Q1 2025 SSSE Updates

📈 Q1 2025 Portfolio Update

The first quarter of 2025 brought a lot of positive momentum across our self-storage projects. From new developments breaking ground to impressive operational gains, we’re continuing to build on a strong foundation.

Here are some of the highlights:

📍 Lawrenceville, GA – Groundbreaking Success
Construction has officially started on our Class A facility! The property’s latest appraisal came in at $1.7M — more than triple what we paid. That’s about $1.2M in equity before we’ve even gone vertical. Plus, value engineering helped us save nearly $900K during planning.

🏗️ Ironton & Sandusky – Construction Complete
Both projects are now fully built out and ready for leasing season. Ironton’s occupancy jumped from 58% to 67%, and our new on-site manager is already making a great impact.

🏠 Central Illinois Portfolio – Big Upgrades, Strong Results
We’ve wrapped up several improvements, including ADA upgrades, new doors and roofs, smart units, and fresh signage across key locations. Past-due balances dropped to 2.5%, and March delivered our strongest lead and move-in numbers in months.

📦 Morgantown – New Conversion Opportunity
We’re exploring a plan to convert boat warehouses into 22,000 sq. ft. of rentable storage. This shift would streamline operations, lower payroll, and boost long-term returns.

Overall, Q1 has been a season of growth, savings, and new opportunities. With stronger systems, improved reporting, and several properties nearing stabilization, we’re excited to carry this momentum into the next quarter.