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SV005 SPV, LLC ("SPV") intends to develop a new self-storage facility on a 3.41-acre site located at 52nd & Highway 126 in Springfield, Oregon — part of the Eugene-Springfield metro, the third-largest market in the state.
The site is zoned Heavy Industrial and self-storage is permitted by right, with architectural plans already completed by Jackson Main Architecture. The market's 15 existing competitors are operating at an average occupancy of 97.41%, signaling significant unmet demand within the four-mile trade area.
The four-mile market is home to more than 55,430 residents across 22,544 households, with an average household income of $81,572. Nearly 39% of households are renter-occupied — a profile that drives high and durable self-storage utilization. A Phase II Feasibility Study completed by Development Services Inc. and updated February 2, 2026 concludes that the area can support the subject facility and an additional 50,000 square feet of new supply beyond it.
The site is zoned Heavy Industrial (HI) within the City of Springfield. Self-storage is a permitted use by right under this classification, confirmed in writing by the City of Springfield's Development & Public Works Department. No zone change or conditional use permit is required, significantly de-risking the entitlement process.
Plans dated February 1, 2023 by Jackson Main Architecture are in hand, consisting of a single-story, multi-building design across the 3.41-acre parcel for 411 units and 44,300 net leasable square feet. Pre-construction work has been completed, enabling an accelerated path to development.
The independent feasibility study confirmed 15 competitors within a four-mile radius operating at a weighted average occupancy of 97.41% — well above the 90% threshold that signals room for new supply. No new projects were identified in the construction or planning pipeline at the time of the February 2026 study update.
Nearly 39% of households in the four-mile market are renter-occupied — 8,688 rental units in total. Approximately 30% of renters relocate in any given year, generating consistent move-driven storage demand. Projected household growth through 2030 adds an estimated 775 new homes, including roughly 275 rental dwellings.
The site sits at the corner of 52nd Street and Highway 126, one of the primary east-west corridors through the Eugene-Springfield metro. Nearby traffic counts exceed 32,000 AADT on the Officer Chris Kilcullen Memorial Highway at 42nd Street, providing strong drive-by exposure for the facility and its future tenant base.
Based on the feasibility study's rate analysis — benchmarked to the highest street rates in the market — the facility is projected to generate $81,346 in monthly storage income at full occupancy, equating to $976,152 annually. The proforma indicates positive cash flow beginning at month 11 of the lease-up period.
Signal Ventures, headquartered in Bend, Oregon, has been operating since 2001, bringing over two decades of experience in real estate investment and development. Founded and led by Jason Adams, the firm specializes in data-driven strategies across self-storage, industrial, and residential projects.
Their extensive portfolio includes successful ventures like the Tumalo Self Storage project, which achieved gross returns of 72% IRR and a 10.2x equity multiple over a two-year holding period, and the Bend Flying Frog Car Wash, yielding gross returns of 36% IRR and a 14.7x equity multiple over seven years.
Signal Ventures emphasizes transparency and meticulous attention to detail, ensuring smooth transactions and robust returns for investors. Their seasoned team leverages advanced data analytics to transform underperforming properties into high-performing assets, providing accredited investors with opportunities for passive income through real estate.
Jason has been a real estate business owner since graduating from college in 2001. He has diverse experience in residential development, self-storage, car wash, construction, and multi-family. His great professional joy is having teams of people working together in coordinated efforts to achieve common goals with easy-to-follow data points and actions.
Springfield sits at the eastern edge of the Eugene-Springfield metropolitan area, straddling the McKenzie and Willamette rivers along Oregon's central valley. The combined metro is Oregon's third-largest, anchored by the University of Oregon, PeaceHealth, and a significant manufacturing and logistics base that bridges Eugene's professional economy with Springfield's industrial corridor.
The subject site at 52nd & Highway 126 is positioned at the confluence of Eugene and Springfield traffic patterns, capturing both communities within its four-mile trade area. Highway 126 serves as one of the metro's primary east-west arterials, with annual average daily traffic exceeding 24,000 vehicles at nearby segments. Within a quarter-mile, the Officer Chris Kilcullen Memorial Highway (I-105) interchange handles over 32,000 AADT.
The four-mile market has grown steadily — from 51,897 residents in 2010 to 55,430 in 2025 — and is projected to reach 57,075 by 2030. Households have expanded at a parallel rate, rising from 20,143 in 2010 to an estimated 22,544 today. The renter-occupied share of housing stands at 38.53%, creating a high-turnover tenant base that disproportionately drives self-storage demand.
The four-mile market population has grown from 51,897 in 2010 to 55,430 in 2025 and is projected at 57,075 by 2030. Household formation has grown at a consistent 3.4% rate between 2025 and 2030.
38.53% of households in the four-mile market are renter-occupied — 8,688 rental units. Approximately 30% of these turn over annually, generating persistent move-driven self-storage demand that is structural, not cyclical.
Oregon carries approximately 8.07 square feet of self-storage per capita statewide. The Springfield market operates at 12.68 square feet per capita of demand — sustained by 97.41% average occupancy across existing facilities.
Average household income in the four-mile market is $81,572 in 2025, rising to a projected $92,954 by 2030. The income distribution supports reliable rent-paying capacity across both interior dust-free and drive-up unit types.
The February 2026 feasibility study update confirmed no new self-storage projects in construction, permitting, or planning within the primary market. The analysis includes a conservative 50,000 SF buffer for potential future entrants.
At an equilibrium per capita of 14.18 square feet and a 1.50 SF/person demand increase assumption, the market supports the subject facility and leaves 31,748 square feet of additional capacity that could still be developed before the market saturates.
The U.S. self-storage market is projected to grow from $44.33 billion in 2024 to $50.01 billion by 2029, with a steady compound annual growth rate of 2.44%. The sector has demonstrated resilience through multiple economic cycles.
Oregon has 7.54 square feet of storage per capita statewide according to the Self Storage Almanac and SpareFoot. Occupancy rates in the state range between 91–95%, according to Yardi Matrix data — well above the national average threshold for new development viability.
With 43.8 million U.S. households renting as of 2023, the expanding renter population continues to fuel self-storage demand. Renters use storage at higher rates than homeowners, and the Springfield market's 38.53% renter share outpaces national averages.
Increasing density in urban and suburban areas creates sustained need for off-site storage. The Eugene-Springfield metro's compact geography concentrates demand within a manageable trade area, reducing competitive exposure from distant facilities.
The influx of remote workers relocating to secondary markets for quality of life drives storage demand at both ends of the move cycle. The Eugene-Springfield metro has attracted this demographic, contributing to above-trend household formation.
The self-storage industry is projected to grow by 5.2% annually, reaching a market size of $65.3 billion by 2027, according to the Self-Storage Association. Ground-up development in undersupplied markets offers the strongest entry point in the cycle.
Fifteen self-storage facilities operate within the four-mile market. Average occupancy across stabilized facilities is 97.41%, with only 148 units available market-wide across approximately 719,001 total net rentable square feet.
| # | Facility | Address | Approx. NRSF | Units | Occupancy | Units Available |
|---|---|---|---|---|---|---|
| 1 | I-105 Secure Storage LLC | 851 52nd St | 74,470 | 843 | 98.81% | 10 |
| 2 | BuxBear Storage | 4720 Main St | 72,600 | 486 | 96.71% | 16 |
| 3 | U-Stor | 4940 Main St | 40,150 | 433 | 97.46% | 11 |
| 4 | All Star Mini Storage | 5353 Main St | 20,600 | 188 | 100.00% | 0 |
| 5 | Alliance Springfield Storage | 4110 Horace St | 86,880 | 525 | 97.52% | 13 |
| 6 | Main Street Mini-Storage | 4300 Main St | 88,436 | 800 | 99.63% | 3 |
| 7 | Storage | 4131 E Street | 6,750 | 40 | 100.00% | 0 |
| 8 | 42nd Street Mini Storage | 362 42nd St | 81,065 | 525 | 96.00% | 21 |
| 9 | ABOX Container Storage | 4107 Industrial Ave | 37,440 | 117 | 96.58% | 4 |
| 10 | Stor-N-Lok | 3501 Olympic St | 32,400 | 300 | 95.33% | 14 |
| 11 | Simply Storage | 790 30th St | 17,623 | 143 | 92.31% | 11 |
| 12 | Northwest Self Storage | 2656 Olympic St | 44,140 | 400 | 96.00% | 16 |
| 13 | A Storage Place | 2829 Pierce Pkwy | 61,674 | 545 | 96.70% | 18 |
| 14 | Stor-All | 555 Q Street | 30,688 | 247 | 98.79% | 3 |
| 15 | Pioneer Storage | 1893 2nd Street | 24,085 | 121 | 93.39% | 8 |
| Market Total / Average | 719,001 | 5,713 | 97.41% | 148 | ||
Based on the feasibility study's unit mix recommendations and benchmarked to the highest street rates in the market. Income projections assume full occupancy at stabilization. Rates are subject to change during lease-up; discounting during initial months should be anticipated.
| Unit Type | Unit Size | SF / Unit | # of Units | Total SF | Rate / Month | Monthly Income | Annual Income |
|---|---|---|---|---|---|---|---|
| Ground Level Dust-Free Interior | 5 × 5 | 25 | 46 | 1,150 | $124 | $5,704 | $68,448 |
| Ground Level Dust-Free Interior | 10 × 5 | 50 | 44 | 2,200 | $159 | $6,996 | $83,952 |
| Ground Level Dust-Free Interior | 10 × 10 | 100 | 183 | 18,300 | $170 | $31,110 | $373,320 |
| Ground Level Dust-Free Interior | 10 × 15 | 150 | 61 | 9,150 | $180 | $10,980 | $131,760 |
| Ground Level Dust-Free Interior | 10 × 20 | 200 | 2 | 400 | $200 | $400 | $4,800 |
| Ground Loaded (Drive-Up) | 10 × 10 | 100 | 4 | 400 | $322 | $1,288 | $15,456 |
| Ground Loaded (Drive-Up) | 10 × 15 | 150 | 32 | 4,800 | $330 | $10,560 | $126,720 |
| Ground Loaded (Drive-Up) | 10 × 20 | 200 | 37 | 7,400 | $364 | $13,468 | $161,616 |
| Ground Loaded (Drive-Up) | 10 × 25 | 250 | 2 | 500 | $420 | $840 | $10,080 |
| Storage Totals | 411 | 44,300 | $81,346 | $976,152 | |||
Signal Ventures LLC will serve as the Managing Member ("GP"). Equity investors will have the opportunity to purchase shares in the LLC Common Members ("LP"). GP is targeting a raise of $7.0MM and will contribute 5–10% of the equity.
GP intends to secure SBA 504 financing, engage a general contractor for construction, and appoint a third-party manager to oversee facility operations. The SBA 504 loan program provides long-term, fixed-rate financing for eligible commercial real estate — reducing floating rate risk for the project.
Target returns are a 25% IRR and 2.0x equity multiple. Total capitalization and target debt figures will be confirmed upon finalization of construction budget and SBA financing terms. A full financial model is available upon request.