- Advantage Storage is a 69,839 square foot facility located in northwestern Houston, TX. Originally a purpose-built office, the building was converted into a two story, climate-controlled facility, and offers a yield premium relative to other storage assets in the market.
- Advantage Storage will be the second storage acquisition by the GCREIT in Houston, providing immediate operational scale.
The U.S. self-storage sector has been a desirable property type over the last decade due to its low capital expenditures profile, low operational intensity, and low obsolescence risk. Given the inherent noncyclical demand drivers, this property type is considered a defensive property type and has ultimately outperformed traditional sectors throughout multiple real estate cycles.
Self-storage has proven to be one of the best performing sectors over the past several decades. Consequently, this has created a lot of enthusiasm for Nuveen to identify new partners and expand our storage pipeline.