June 30, 2023
We are pleased to provide this semi-annual summary update and review of construction, events and operational progress on NationWide II Self Storage & Auto Wash as of June 30, 2023.
NationWide II Self Storage & Auto Wash (the “Property” or “Boundary)” is a high profile and prominently located, 0.66-acre site situated at 3680 East 4th Avenue, Vancouver off Boundary Road and Lougheed Hwy. The project comprises a self-storage facility and an indoor ground-level car wash tunnel.
The carbon-neutral self-storage building is an impressive 86,700 sq. ft., 5-storey structure that features modern architecture and design, enterprise-level built-in security, and a keyless smart access system controlled via an app on your phone.
This building is very noticeable as you drive by on Highway 1, Lougheed Hwy, or Boundary Road. It is also the first storage facility that is easily accessible from the main arterial roadways of Boundary Road and Lougheed Highway.
Location and convenience are everything when it comes to essential services like self-storage and a car wash. Our Vancouver and Burnaby neighbors and surrounding businesses have expressed excitement about having these services in their community.
Construction began in Summer 2020, and we were finally issued a preliminary Occupancy Permit for the storage facility on December 7, 2022. We received our full occupancy permit in March 2023.
SELF STORAGE OPERATIONAL PROGRESS
Despite the industry wide delays due to COVID-19 our contractors made solid progress completing all 5 levels of the building and rooftop before the end of 2022. As previously stated, we were granted partial occupancy on December 7, 2023, and were granted full occupancy in March 2023. (Read more…)
CAR WASH OPERATIONAL EXPANSION
Our Express Auto Wash tunnel is housed within the ground floor level of our 5-storey self-storage facility making it one of the first of its kind in Canada. With a dynamic car wash light show that can be seen from the street, we expect customers will enjoy this experience and be back for more.
(Read more…)
To download the complete review and update, click here.
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THE ABOVE INFORMATION IS SPECIFIC TO NATIONWIDE II SELF STORAGE & AUTO WASH TRUST AND ITS PROPERTY AT 3680 EAST 4TH AVE OFF BOUNDARY ROAD, 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.