The following case studies illustrate how we have managed each 2007 transaction from start to finish for each client.

Wynne Jackson
Wynne Jackson was part of a six-property portfolio with locations in Palm Springs, CA, Allen and Plano, TX, Atlanta, GA and Tampa, FL. Palm Springs and Atlanta closed in January 07 with the remaining properties closing in late Q4 of 2006. With such a diverse package of properties with regard to location, our advice to our client was to market the properties as one offering, but also have individual packages available to those who were interested in only each individual market. Knowing that the transactions were likely to be on a regional basis, we had our team filter our database of local owners in each market, normally within a 25-50 mile radius. The Palm Springs and Atlanta properties were eventually purchased by local owners and the Allen/Plano, TX and Tampa properties were purchased as a package by a national investor who already had properties in both markets. The two properties that sold individually were sold to companies with whom we had not previously done business. Testimonial available from client at http://siallp.com/testimonials.htm

Prudential/Extra Space
Prudential/Extra Space was part of a five-property package with locations in Memphis, TN, Huntingdon Valley, PA, Brockton, MA, Irving, TX and Pasadena, TX. With the exception of the Pasadena property (which closed Q4 2006), the remaining properties closed in May and June of 2007. Each of these properties was purchased by individual owners which were all local to the markets. The properties were diverse in location and while marketed on a national level, our efforts focused on the local markets. Our strategy with this package was to treat the properties as one-offs and tailor our marketing efforts as such with our database of potential purchasers. Three of the five purchasers were investors that had not worked with our firm in the past and were cultivated through our local marketing efforts.

The Store House Company
The Store House Company was a package of two properties, located in Jeffersonville, IN and Lawrenceville, GA which sold to two separate buyers. The properties were brought to market as a package with the ability to purchase the properties individually. Both properties were in smaller markets so we focused our efforts on the local market owners. Jeffersonville, IN eventually was purchased by a local owner who had a strong foothold in the market. However, the Lawrenceville, GA property was purchased by a national investor. They did not have properties in the trade area but liked the economics of the transaction and decided to move forward. We were able to source this buyer by marketing the properties on a national level, and once interested parties turned in confidentiality agreements, focus the balance of the marketing period on the specified list of interested parties.

Boston Capital
Boston Capital was a package of four Class A properties located in Queens, NY, Bayport, NY, Bloomfield, NJ and Brighton, MA. This package generated extremely high levels of interest due to the location of the properties and the economies of scale. The original marketing included only the New York and New Jersey properties. Being that the MA property was still in the early stages of lease up, we advised the client of two options: First, Offer the property to the eventual purchaser of the NY/NJ properties; or Second, Market the property once it reached an occupancy level at which we would be able to obtain their desired pricing. The eventual purchaser of the NY/NJ properties was a national investor who had locations in Massachusetts and the additional property made sense with their portfolio. Therefore, the fourth property was sold without ever having been brought to the market.
Testimonial available from client at http://siallp.com/testimonials.htm

Safeguard Self Storage
Safeguard Self Storage was a package of two greater Houston area properties located in Spring and Friendswood, TX. The properties are located in great suburbs of Houston and are 45 miles in distance from one another. With one property being located on the North side of town and the other on the South side, there was a lot of interest in the properties individually but our advice and strategy with our client was to find a buyer who would purchase the properties together; provided the pricing made sense. The eventual purchaser had a strong presence in Houston and therefore both properties were a logical fit for their portfolio.

The Lock Up
The Lock Up was a package of five properties marketed by our firm with four of the locations in Illinois; Wheeling, Palatine, Bolingbrook, and Glenview and the fifth property located in Garden City, NY. The original marketing of the properties did not include the Glenview, IL property and followed the strategy of offering that facility to the eventual purchaser of the other Illinois properties; once we had the other properties under contract. The New York property was marketed on its own and due to the strong lease up of the property and considerable remaining upside, the property sold quickly to an investor who already had other properties in the area. Testimonial available from client at http://siallp.com/testimonials.htm

Randall Road Self Storage
Randall Road Self Storage was a single property located in St. Charles, IL. The property was unique in the fact that it was completely enclosed and had drive up units. The property also offered the opportunity to double the amount of rentable square feet through the build out an existing 71,000 square foot shell. The key was to obtain as much value for the expansion as possible due to the quick lease up of the first phase of the facility and the fast growing community surrounding the property. The property was eventually purchased by an investor with self-storage holdings in and around the Chicago area and owning this property allowed him an opportunity to expand West of Chicago.

Greenspoint Self Storage
Greenspoint Self Storage was a converted multi-story office building with some single-story conventional self-storage buildings behind the main building. This property was unique in the fact that it was an old office building converted to self-storage. The property had great visibility, great frontage but below average accessibility. This property went under contract three times before eventually selling to a national operator. The property was brought to the eventual purchaser’s attention by one of our team members who thought that this facility would fit well with their existing Houston portfolio; even though they initially were not interested in the property. The property will continue to operate as self-storage but will also be a prime truck rental center due to its location.

Resco Group: Development Deal in San Diego, CA
This was a development deal located in the heart of downtown San Diego, CA. Our firm does not normally market development opportunities but due to the location, the type of rents that were projected, and the scarcity of land in San Diego, this was a property that we felt we could manage. The property eventually was sold to a buyer from the East coast looking to expand their efforts to the West coast. This offering was co-offered with Grubb & Ellis.

Jernigan Property Group
Mira Vista Self Storage was a property located in Fort Worth, TX. This was the second of two properties marketed and sold by our group and the only property in Texas. The property was in a great market, great location but a competitor undercutting the market in pricing substantially hindered the progress of this facility and the property was therefore rejected by two purchasers before a third purchaser closed on the property this summer. The purchaser was a local operator who had self-storage holdings in the Dallas/Fort Worth and Houston areas and someone with whom our team members have sold nearly 10-properties.