Perris Self Storage is three years old and is located at a great corner location. The 5.9 acres offer 900 units which are comprised of 129,087 gross square feet (119,262 net) with all drive-up units. This is a quality facility that opened in the fall of 2004 and is at approximately 50% occupancy. Although the rent up has been slower than anticipated, the growth slope continues to increase with no indication of flat lining, especially due to the anticipated growth in the area and the prominent location. The facility is projected tostabilize at 85% occupancy in the End of 2010.

• Great established facility located off Hwy 111 and Flower with 1069 Self Storage units and 57 outside vehicle spaces with great historical occupancies in the 90-96%

• A 103,963 net rentable SF facility comprised of 92,730 SF of Self Storage and 11,233 SF of outside vehicle spaces

• Originally built in 1977 with 5 buildings and later expanded to 14 buildings from 1980 to 1984

• Very well maintained steel facility with Urethane roofs, good paint, and asphalt.

• Rental rate survey performed shows that Indio Security Storage is on average 32% below average market rents.

Lot’s of upside

Great Existing Assumable loan 50% leverage. A five year NNN lease was executed in November 2007 for the 3,700 SF retail market on property frontage. The mass majority of the storage units include 168 large (10x20) that are 100% occupancy per owner at listing date (see owner’s overview). Rates are $25.00-$54.00 per units below local competitors.  The most immediate deferred maintenance appears to be the asphalt.  See “Owner Overview” Statements.  More container units (12-5x8 units) can be added.  Good owner/user property.