Storage Development Strategy

• Develop institutional-grade, urban-infill, climate controlled properties in premier locations nationwide
• Partner with established, best-in-class national management platforms to maximize leasing, operational and economic performance
• Target locations with high population density, as well as good visibility and high traffic counts, where competitive supply will remain less than the submarket's equilibrium
• Leverage in-house expertise to smoothly navigate the zoning, approval and design processes and ensure projects are completed as scheduled and budgeted
• Maximize long-term value creation, while opportunistically accessing the sale market to enhance Banner’s pipeline and development relationships