KEYSTONE STORAGE

Keystone Self Storage is a 132-unit plus office storage facility built in 1983. It features a market attractive unit mix with below market rents. The seller is occupying 29 units (22%) long term for construction projects/renovations at apartment properties owned. The seller will sign a lease for 2 years at market. All other tenants are month to month allowing the purchaser to raise rents quickly to market. This well-located asset is positioned along South Loop 289 across the loop from the South Plains Mall. The South Plains Mall is the largest shopping center between Fort Worth and Albuquerque at 1.2 million square feet. As such, it is the only super regional mall in West Texas. This desirable west Lubbock location provides easy access to all major employers and all major shopping areas within the city. The current rents are well below market and offer an opportunity to quickly improve investor returns.