Thank you for accepting my invitation for a cup of coffee. Let’s schedule it!
My name is Reid Hamilton,
I am an owner of self storage facilities on the West Coast. I saw an opportunity to offer a solution to a challenge many of us face. We love self-storage and we DO NOT WANT TO SELL OUR FACILITIES. I realized once we got our storage facilities to a certain point, we were working really hard for nominal gains.
The world is going through some pretty wild and turbulent times and I thought to myself, how do we capitalize on the benefits of self-storage while greatly reducing the down side during these rough waters.
About a year ago, I read an article about how Extra Space Storage and a very large REIT entered into a triple net lease. I thought to myself, if a triple net lease could work for the institutional players, I bet it can work for smaller operators like myself.
I contacted the good folks at Extra Space and explained my vision. “I want to create a triple net lease program for self-storage owners, like myself. I want to work with a company that has the wherewithal to back a 30-year lease. I want this to be available to the hard-working entrepreneurs who have poured their hearts and souls into their self-storage facilities, providing them with peace of mind knowing that the income they have worked so hard to generate, will be there in the future, GUARANTEED.”
After a year of working very hard, I am proud to announce that Extra Space Storage and Storage Recess have created a triple net lease program that is truly a win/win for everyone involved.
It’s been done for the big guys, now it’s our opportunity.
Let’s chat!
THE TRIPLE NET LEASE PROGRAM
WHAT IS THE PROCESS?
The Triple Net Lease program is really quite simple. We evaluate your self-storage facility by reviewing the following:
Profit & Loss statements for the trailing 12 months
Unit Mix and Occupancy Reports
Real Estate Tax Projections
Once we have evaluated the property we come up with an agreed-upon rental payment (lease payment). To be clear about something, you always maintain ownership of your self-storage facility.
Extra Space is simply leasing your facility from you for the next 10-30 years, covering all expenses such as real estate taxes, insurance and maintenance.
Let me give you an example. Let’s say your storage facility nets you $300,000 a year. Extra Space Storage will guarantee you that $300,000 PLUS an annual escalator through the term of your lease.
No matter what happens with the economy, you are guaranteed your financial freedom.
This is truly an amazing opportunity to provide you and your family financial freedom no matter if any of the following happen:
The economy goes into a recession
There is over building of self-storage in your market or trade area
COVID-19 has a dramatic impact on your storage facility
You or a family member running the storage facility are no longer able to run the business
WHY THIS IS SO TIMELY?
Running a storage business today is much different than it was just 5-10 years ago.
The cost of doing business keeps going up
Most markets are either over built or headed that direction
Our income is not growing like it has in the past and is very likely going to take a step backwards
Your income from this asset has most likely peaked, now is the time to lock in your annual lease payment amount
This is the first time ever a Triple Net Lease program has been offered to individual self-storage owners.
WHAT DO I DO NEXT?
The next step is simple.
Let’s schedule a 30-minute conversation and see if the Triple Net Lease program is going to add value to your life. After our call, if you want to take the next steps, we will request the needed information to provide you an estimate of what your lease payment could be.
FAQ’s
The Triple Net Lease program is new to self-storage but it is by no means a new concept. We have recorded some Zoom interviews/Podcasts with experts in their fields that will hopefully answer some of your questions. Each interview is about 20 minutes and will most likely answer a lot of your questions.
These interviews are like the cliff notes we always wanted in school.
“Episode 01 ”
“Episode 02”
