1201 North 130th Street, Kansas City, KS 66109

Colliers is pleased to present to qualified investors the opportunity to acquire the Public Storage Kansas City Portfolio, a three-property self-storage offering comprising approximately 130,625 rentable square feet across 1,059 units, strategically located throughout the Kansas City Metropolitan Statistical Area. This offering provides a compelling opportunity to achieve immediate scale through a geographically clustered acquisition spanning both Kansas and Missouri submarkets, affording investors exposure to a fundamentally strong and undersupplied storage market while benefiting from operational efficiencies driven by the assets’ close proximity.

The portfolio includes the State Ave and Delaware facilities in Kansas City, Kansas (Wyandotte County), along with the Raytown property located approximately 20 to 25 minutes away in the Missouri portion of the MSA. Together, the assets form a cohesive footprint that spans both western and eastern corridors of the metro, enabling access to a broad and diverse tenant base while maintaining efficient drive times of approximately 20 to 30 minutes. This proximity supports centralized management, coordinated revenue strategies, and integrated operations, enhancing overall portfolio performance.

Collectively, the assets offer a balanced investment profile combining stabilized income, near-term value-add potential, and long-term growth optionality within a single market. State Ave serves as a stabilized, cash-flowing asset with strong occupancy and prominent visibility along a primary commercial corridor, benefiting from favorable supply-demand fundamentals. Raytown provides a clear value-add component, supported by solid in-place occupancy and ongoing capital improvements, positioning the asset for revenue growth through lease-up and operational optimization. Delaware offers an institutional-quality facility featuring both climate-controlled and non-climate units, broadening tenant appeal, and is further distinguished by a dedicated expansion parcel that presents a rare opportunity for future development in an infill location.

Operationally, the portfolio consists of approximately 13% climate-controlled units and 87% non-climate units, complemented by ancillary income streams such as surface parking and merchandise sales. Current performance reflects approximately 90.4% physical occupancy and 114.6% economic occupancy, underscoring stable operations, strong tenant retention, and effective revenue management practices. The properties are well-amenitized, supporting tenant satisfaction and reinforcing their competitive positioning within their respective submarkets.

Offered at $17,040,000, or $130.45 per rentable square foot, the investment represents a T-12 cap rate of approximately 6.7% and a projected 7-year leveraged IRR of approximately 18.2%. The portfolio is currently generating approximately $1.14 million of in-place NOI, with an expense ratio of approximately 39.9%. With a combination of stable in-place cash flow, meaningful operational upside, and a notable embedded development opportunity at the Delaware location, the Public Storage Kansas City Portfolio is well positioned to deliver attractive risk-adjusted returns within the value-add investment spectrum.