LOS ANGELES--(BUSINESS WIRE)--Square Storage, LLC – a developer of mixed use commercial space combining self-storage with retail, flex industrial and office space – is offering accredited investors an opportunity to participate in its Square Storage Fund I, a $10 million Regulation D 506c fund taking advantage of retail’s downturn.
Through the transformation of vacant big box retail outlets to self-storage, combined with value-added retail space on site, these mixed-use centers offer qualified investors the potential for multiple income streams and above-average returns over time.
With so much vacant retail, industrial flex and office space – and dark big box locations formerly occupied by retailers such as Sears and Kmart – economic distress leading to corporate bankruptcies present an opportunistic environment for smart investors to profit.
“With the retail apocalypse in full swing we see this as a once in a lifetime opportunity,” said Scott Mednick, president of Square Storage, LLC. “The goal is to repurpose the existing space instead of building from the ground up. We’re creating multi-floored mixed-use commercial space out of spaces that traditionally were single level, blending street level retail on the lower floor with self-storage above.”
Focused on purchasing properties below replacement cost, Square Storage is targeting space that can be re-purposed and re-vitalized in locations which meet its acquisition criteria such as dense population within a three mile radius of the facility, as well as set standards for traffic count, median household income, a minimum of at least 50,000 square feet of space, a high barrier for entry into the market for new facilities, rental rates of at least $1 per square foot and additional income streams.
Seen as recession resistant, inflation proof, and low rate of foreclosure and default, self-storage continues to be an attractive investment vehicle that profits from people’s naturally occurring life transitions.
About the Team
With more than 30 years’ experience as a developer, broker and general contractor, Scott Mednick has built an executive team at Square Storage, LLC, with over 100 years of experience in every facet of commercial real estate. Their knowledge of sourcing, brokerage, acquisition, development and redevelopment, market mapping, re-purposing and property merchandising, leasing, and asset management as executives and principals has extended to both private and publicly-held concerns.
Contact Scott Mednick directly for more information: (949) 632-2600.
