Property Description

  • Located in Auburn, Alabama, the property is a 729-unit, vertical self storage project with mixed use integration of retail space.
  • The property was built in 2017, and it includes retail square footage of 3,322 situated on approximately 2acres.
  • Property amenities include climate-controlled storage with 24/7 controlled access, two elevator banks, 24/7 video monitoring, and store management by CubeSmart, a NYSE: traded REIT and owner of over 1,250 storage properties throughout the United States. 

Property Type

Self Storage

Structure

Delaware Statutory Trust

Leitbox
Auburn DST

AL

Remaining Availability

1% Remaining

Total Funds
$16,361,637
Remaining Availability
Taking Backups
Minimum Investment
$100,000
Funded To Date
$16,361,637
Est. Hold Period
10 Years
Leverage
0.00%
Equity Raise
$16,361,637
Price/SF or Price/Unit
$235/SF

For More Details

 
 
 

Location Details

 
 
 

Population

72,291

Population Growth

See PPM

About The Area

AUBURN UNIVERSITY HAS OVER 30,000 STUDENTS AND 1,400 FACULTY MEMBERS.

AUBURN HAS A $5.63 BILLION IMPACT ON ALABAMA ECONOMY.

 

Sponsor

Leitbox Storage Partners (“Leitbox”) is a real estate investment company that develops and acquires self storage (often with mixed use & retail integration) in primary and secondary markets. The company employs a “Market Up” strategy, tailoring its real estate strategy to each particular project. Specifically, Leitbox’s real estate professionals determine which approach: repeatable prototype vertical development, mixed-use development, value-add acquisitions, or retail conversions, is the best strategy for the submarket. Leitbox uses proprietary site selection data analytics to increase occupancy outcomes and reduce the time required for site selection analysis.  

Through Leitbox’s programmatic, repeatable prototype development process, the Company seeks to create efficient building outcomes at lower development costs and faster vertical execution. In addition to programmatic greenfield development of vertical self storage, founder Bill Leitner utilizes his 25-year history in the retail and mixed-use sectors to identify and acquire retail, big-box conversion opportunities and income-producing, storage facilities presenting value-add upside potential. Somewhat unique to the self storage sector, Leitbox often integrates a mixed-use/retail component to help improve financial outcomes, such as lowering the property’s break-even threshold, while allowing projects to be launched in more desirable, high-barrier to entry neighborhoods.

The Leitbox management team has developed over $3.8B of commercial real estate in 43 states.  Through related-party entities, the management team currently manages over $715M AUM in retail, mixed-use, office and self storage assets.