Extra Space Storage

The Asset: Extra Space Storage is a 110,460-square-foot self-storage facility located in Shawnee, Kansas, a growing submarket within the Kansas City metro area. Constructed in 2000 on a 7.39-acre site, the property comprises 18 buildings with 468 units, offering a diverse mix of unit sizes. Currently 85% occupied, the facility presents an opportunity for upside through lease-up and operational efficiencies. The property includes 155 parking stalls but does not feature climate-controlled units or drive-up access, potentially allowing for future value-add enhancements. Located at 6410 Vista Drive, the property benefits from strong market fundamentals and robust demand drivers in the Shawnee submarket. Its proximity to key residential and commercial areas positions it well for long-term tenant demand. The in-place rents are competitive within the market, offering potential for rental rate growth. With stabilized operations and professional management, this asset provides investors with a reliable income stream and an opportunity to enhance returns through occupancy growth and optimization. The Challenge: The existing ownership engaged Jon England and his team to market the property for sale to a national pool of qualified buyers. England was able to manage multiple stakeholders - many of whom held different goals and personal motivations - and get them to adhear to a process of marketing the property to acheive a successful closing. Results: Jon England and his team's marketing and process yielded multiple offers and two rounds of best and final which allowed a competive and fair format for multiple Buyers from across the United States to compete for this opportunity. The result yielded a qualified who performed and paid a premium price at the time for a self storage asset in Kansas City.