March 8, 2022
We are pleased to provide you this annual summary of events and operations review as at December 31, 2021.
As you are probably aware, NationWide Self-Storage in Vancouver (the “Property”) is a 58,500 sq. ft., four-story, state-of-the-art facility that features modern architecture and design, enterprise-level built-in security, and a keyless smart access system controlled via an app on your phone.
When it comes to self-storage in Vancouver, convenience is key and our Property is favorably situated a mere 5 minutes from central downtown Vancouver and grants easy access to East Hasting Street, Clark Drive, and Pender Street. Our initial development permit allowed for 559 lockers of varied sizes with the intention of installing an additional 250+ second level sky lockers later as stage 2 of our original business initiatives.
We are pleased to report that in September 2021, we finally received our build permit for 281 sky lockers and in December we commenced construction of them.
The sky lockers are now being finalized for market launch and lease-up commencing in March 2022 (subject to passing building inspection). The addition of these sky lockers brings the total number of lockers at the facility to 840. Based on earlier expressions of interest, we expect these sky lockers to rent out relatively quickly due to their affordable price point.
To download the complete review, click here.
Please note, going forward all investor updates will be provided as at June 30th and December 31st each year. The next June 30th update will be provided on or before July 31, 2022.
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THE ABOVE INFORMATION IS SPECIFIC TO NATIONWIDE I SELF STORAGE TRUST AND ITS PROPERTY AT 1223 EAST PENDER ST., VANCOUVER, BC.
This information is general in nature and does not constitute an offer to sell or an advertisement, solicitation, or recommendation to buy securities. Nothing on these pages constitutes investment, legal or tax advice, nor was it prepared in consideration of the investment objectives, financial situation, particular needs of any specific recipient. There can be no assurance that investments will perform as or be of the quality anticipated. There are risks associated with any investment.