Journey.Direct™
Investment Platform
a part of the Journey.storage™ ecosystem
Invest alongside the operator.
Not through a fund.
Not through a REIT.
Directly.
with Journey.storage™
Journey.direct™ is the platform.
Self storage is the opportunity.
Journey.storage™ is the operator.
Operator-led, not fund-managed
Every deal is sourced, operated, and managed by the same team.
Value created through operations, not speculation
$200M+ in acquisitions built on operational transformation, not market timing.
Aligned incentives
Journey.direct™ co-invests in every deal, and guarantees debt, as needed.
On a Mission
Impact & Excellence; Mediocre won't Suffice
Jonah M. Hall
Co-Founder & CEO
- •Deep Industry Relationships
- •Organizational Restructuring & Team Building
- •Storage Operational Mastery
- •Real Estate Transactional Prowess
A decade into the industry, Jonah has served in almost every capacity, wearing the hats and running point directly, as well as building the teams, systems and critical infrastructure around:
Lyvia Hall
Co-Founder & President
- •Chief-Level Financial Leadership
- •Portfolio-Level Operational Strategy
- •Organizational Process Design
- •Scalable Infrastructure Optimization
Over the last 12+ years, Lyvia has overseen complex, multi-entity structures, spanning 50+ entities, driving strategy, discipline, and performance across:
Built on Experience.
Examples of Scale (thus far)
Pacific Northwest
Operating Platform
$400M Assets u/m · 70 Person team · $4.5M Payroll
Mountain West
Realized Exit
$95M Sale · 10 Locations · 4.87% Exit CR
Southeast
Conversion Strategy
$387K 1st Proj. · CC Conversion · 13% Stab. Yield
Texas
Development Engine
17 Person team · $70M Developed · $1.5M Payroll
A Decisive Divestiture
In January 2026, the Journey.Storage™ team successfully exited their previous venture, Smartlock Self Storage®, and walked away from active principal positions at another industry giant, Cedar Creek Capital®. A calculated maneuver to sever ties with legacy infrastructure and non-compete encumbrances, eliminate go-forward liability through full mutual releases and covenants not to sue, reclaiming sovereignty and clearing the path for the Ecosystem.
Self Storage's Inflection Point
new supply
A New Golden Age of Self Storage Wealth Creation is Beginning
Non-overdeveloped markets: operators can push revenue without new competition diluting demand.
Heavily built markets: natural demand is catching up. Absorption is outpacing new deliveries for the first time in years.
Operators, not developers, will define the next decade.
Value premium. Regional portfolios attract institutional buyers at compressed cap rates. Selling at a 5% cap vs. 6% cap is a 20% difference. The long game: 8–10 year exit at scale.
Storage Without the Friction
Our Operational Philosophy
“Frictionless Commerce at 9:00pm on a Weekday.”
Our competitors close at 5 PM. We never close. Technology is the moat.
The Customer Experience
Find your space
Browse and rent online. No phone calls, no office visits.
Agree and access
Clickwrap agreements. Instant tap to access.
Arrive and move in
Gates open automatically. Any hour, any day.
You're in control
Manage, pay, upgrade, or move out from your phone.
Why It Matters
The customer wins
Rent anytime. Instant access. Zero friction. Higher satisfaction, lower churn.
Revenue wins
Decreased payroll costs. Data-driven pricing. Higher occupancy.
The investor wins
Higher NOI. Stronger returns. An operational moat that compounds over time.
The Operator's Advantage
"We are not the cheapest. We are not trying to be. But we are the most profitable."
We're building the version of self-storage WE would want to use. Automation and systems buy us time to be human - so the moments that need a human touch get one.
Profitability
Decreased payroll, dynamic pricing, and a leaner cost basis. NOI compounds with each rate push.
Efficiency, Scale & Speed
Onboarding playbooks deployed in weeks, not quarters. Each new asset plugs into a shared tech stack.
Automation - with Empathy
Systemized without losing the human touch. Live escalation paths for customers who need a person.
The Operator's Advantage
- Single tech stack across the portfolio
- Centralized revenue management with site-level overrides
- Reduced site labor; remote-first ops team
- Compounding data advantage: every contract trains the next
What That Means for Returns
The investor wins
Higher NOI per square foot. Stronger DSCR through lease-up. A defensible operating moat that prices into eventual exit value.
Growth Thesis
The “Value-Add” Math
A facility purchased at a 6% cap rate ($300k NOI). Payroll decreases by $80k/year. Rents increase by 18%. NOI grows to $480k. At the same cap rate, it's now worth $8M. No speculation. Pure operational value.
The Deal Buy Box
Key Underwriting Inputs / Value-Add Execution(s)
Journey.Storage™
SGF11
Current Investment Opportunity · an offering from Journey.direct™
Springfield isn’t just another market to us… it’s home.
Disclaimer
General
This contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. This is for informational purposes and not intended to be a general solicitation or a securities offering of any kind. The information contained herein is from sources believed to be reliable, however no representation by Journey.Direct™ (“JD”), nor by Journey.Storage™ (“JS”), either expressed or implied, is made as to the accuracy of any information and all investors should conduct their own research to determine the accuracy of any statements made.
Neither JD (nor JS), nor their representatives, officers, employees, affiliates, sub-contractors or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice. The SEC has not passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials.
Forward-Looking Statements
Potential investors and other readers are also cautioned that these forward-looking statements are predictions only based on current information, assumptions and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by such forward looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology.
This further contains several future financial projections and forecasts. These estimated projections are based on numerous assumptions and hypothetical scenarios and JD (and JS) explicitly make no representation or warranty of any kind with respect to any financial projection or forecast.
Past Performance
Past performance does not guarantee future results. Current performance may be lower or higher than the performance data presented. All return examples provided are based on assumptions and expectations in light of currently available information, industry trends and comparisons to competitor's financials. Therefore, actual performance may, and most likely will, substantially differ from these projections and no guarantee is presented or implied as to the accuracy of specific forecasts, projections or predictive statements contained herein. JD (and JS) further make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown herein.
Journey.Storage™ — SGF11
We Will:
- 01Implement addtl. ancillary revenue sources, increasing topline revenue by ~$70k/yr (immediately).
- 02Increase occupancy from 71% to ~87% (over the first 36 months).
- 03Increase in-place rates from ~$0.72/SF to ~$0.92/SF through calculated ECRI's (over the hold period).
Results:
- •EGI (Effective Gross Income) will grow from $4.3M (in-place today) to $6.6M.
- •OPEX driven down to healthy ratio through refined operations and implementation of our technology stack (~40% today to ~32%).
in value created
NOI grows by $1.95M over 60 months
Investment Summary
| Equity Raise | $22,100,000— Inclusive of Sponsor's Co-Invest |
| Financing | ~$32,900,000 (~60% LTC) |
| Total Project Cost | ~$55,000,000 |
| Sponsor(s) | Journey.direct™, LLC ("JD") |
| Management | Journey.management™, LLC ("JM")— Under the Journey.storage™ brand |
| Value Add Strategy | Lease Up, Revenue Optimization, Expense Reduction via Automation |
| Hold Period | 5 Years +/-— Expected cash-out refinance near Month 36 (returning ~65% of equity) |
"bonus" depreciation
Property Details – N. State Hwy H
Recently expanded with new drive up and climate controlled spaces. Refreshed hardscapes throughout.
Property Details – S. Golden Ave.
Hardscapes partially recently refreshed. Well-kept facility in growing southwest corner of Springfield.
Property Details – S. Scenic Ave.
Recently expanded with new drive up and climate controlled spaces. Refreshed hardscapes throughout.
Property Details – E. Farm Rd. 94
Recently expanded with new drive up and climate controlled spaces. New office concept recently installed.
Property Details – White Rock Ln.
Recently expanded with new climate controlled spaces. Retail/office suites provide upside potential.
Property Details – W. North St.
Recently expanded with new drive up spaces. Surrounded by single and multi-family residential housing.
Property Details – US-60
Recently expanded with new drive up spaces. Brand new gate and fencing. Growth in every direction.
Property Details – N. State Hwy CC
Recently expanded with new enclosed boat & RV spaces. Extremely well maintained throughout.
Property Details – Kathryn St.
Recently upgraded with new roll up doors on the larger spaces. Located across from major shopping hub.
Property Details – N. 40th St.
Recently expanded with new drive up and climate controlled spaces. Located between Nixa and Ozark.
Property Details – E. South St.
Adaptive-reuse climate controlled conversion, recently expanded with 89 new drive up gated spaces.
Market Overview
Demand Drivers
- Republic has become a powerhouse logistics and manufacturing corridor (anchored by a new Amazon fulfillment center).
- MSA insulated from "single-industry" risk - healthcare hub, HQs for O'Reilly Auto Parts (Fortune 500), Bass Pro Shops, Jack Henry & Associates, and Forvis Mazars (8th largest U.S. CPA firm).
- Central U.S. location anchors industrial giants like Prime Inc., 3M, Kraft Heinz, and John Deere Remanufacturing.
- Missouri State, Drury, and Evangel bring 40,000+ students - a steady pipeline of talent, renters, and consumers.
- Net absorption outpaces completions; market-wide occupancy near 95% - top-tier nationally for rent growth and stabilization.
Quality of Life
- Cost of living well below national average; suburban renting and homeownership at a fraction of Dallas, KC, or St. Louis pricing.
- Nixa and Ozark Public Schools are perennial state heavyweights - magnets for young families planting roots.
- "Gateway to the Ozarks": James River, Table Rock Lake, Lake Taneycomo, hundreds of miles of trails, plus Bass Pro National HQ and Wonders of Wildlife drawing millions of annual visitors.
Competition Analysis – Ozark/Nixa
12 competitors across the Ozark / Nixa MSA
| Facility | Web | Note |
|---|---|---|
| D Nixa Mini Storage | B- | Older, run-down facility |
| B+ Austin U-Store – Nixa | D- | No Pricing - No Online Rentals |
| B- Self Storage of Nixa | B- | Only 2 sizes available |
| A Elite Storage Centers | B- | Sold out on many standard sizes |
| A ClimaStore24 | F | Nice facility - website non-functional |
| C- Mid-Town Storage of Nixa | B+ | No vacancy - Waitlist on every size |
| B+ Silverback Storage – Nixa | B+ | Waitlist on several sizes |
| D AAA Storage Village – Nixa | B- | Very rough facility - 2 sizes left |
| C- Heartland Storage | B+ | Only a handful of units left |
| C- Ozark Hilltop Storage | B- | No vacancy - No CC Units |
| C- Heartland Storage #2 | B+ | Only 2 sizes left - No CC Units |
| B+ Highway 14 Lock & Storage | B- | No CC - Waiting list on large DU units |
*Sampling of most relevant competitors. Not exhaustive.
Competition Analysis – SW Springfield
9 competitors across SW Springfield
| Facility | Web | Note |
|---|---|---|
| A My Storage #1 | D- | No online rentals |
| A StorageMart | B+ | Only CC |
| B- A-1 West Self Storage | D- | No online rentals (nor pricing) |
| B- Battlefield Storage | D- | No online rentals |
| B- My Storage #2 | D- | No online rentals |
| B+ My Storage #3 | D- | No online rentals |
| B+ Backwoods Storage | B+ | Only 10x15's available |
| B- Golden Hills Mini Storage | B- | Shows "Temporarily Closed" on Google |
| A- James River Boat & RV | D+ | Only a handful of units left |
*Sampling of most relevant competitors. Not exhaustive.
Competition Analysis – NE Springfield
9 competitors across NE Springfield
| Facility | Web | Note |
|---|---|---|
| C- Classic Storage | B- | Waiting List on all but one size |
| B- Storage Sense | A- | Waiting list or 1 left on most sizes |
| A Keystone Storage | B- | No vacancy - Website blocked |
| B+ Glenstone & 44 Storage | B- | No vacancy |
| B+ Eastway Storage Center | C- | Waiting lists - No online rentals |
| B- North National Mini-Storage | D- | 1x 10x20 left - No online rentals |
| A StorageMart | B+ | All DU NCC are sold out |
| C+ StorageMart | B+ | MANY sizes sold out or only 1 left |
| B+ Uhaul | B- | Highest prices in town |
*Sampling of most relevant competitors. Not exhaustive.
Competition Analysis – Brookline/Republic/Billings
12 competitors across Brookline / Republic / Billings
| Facility | Web | Note |
|---|---|---|
| D Republic Mini Storage | F | No Website |
| A Keystone Storage III | B- | Only 5 sizes available |
| B- All About Storage | B- | Waiting list on several sizes |
| A James River Boat & RV | B- | Only extra large units |
| C- ABC Mini Storage Republic | D- | No online rentals |
| C+ A Place to Store | F | No Website |
| C- Bee's Self Storage | D+ | Low Quality/Cost Approach |
| B- Royal State Storage #1 | B- | No vacancy |
| B- RepMo Storage | C+ | Low Quality/Cost Approach |
| B+ Royal State Storage #2 | B- | Only 1 left on 10x10s (CC & DU) |
| C- Haseltine Mini Storage | B- | Shows "Temporarily Closed" on Google |
| A Storage Zone | B+ | No vacancy in the larger units |
*Sampling of most relevant competitors. Not exhaustive.
Sources & Uses
Project-Level Return Metrics
| Sources (at Close) | |
|---|---|
| Acquisition Loan Proceeds | $32,900,000 |
| LP Equity | $20,995,000 |
| GP Equity | $1,105,000 |
| Total | $55,000,000 |
| Uses (at Close) | ||
|---|---|---|
| Acquisition & Closing Costs | $47,705,000 | 86.74% |
| Technology Stack & Capex | $5,500,000 | 10.00% |
| Working Capital and Sponsor, Lender & 3rd Party Fees | $1,795,000 | 3.26% |
| Total | $55,000,000 | 100% |
Annualized Projections*
* Expected Case
| P&L by Year | Year 1 In Lease-Up | Year 2 In Lease-Up | Year 3 Stabilized | Year 4 Stabilized | Year 5 Stabilized |
|---|---|---|---|---|---|
| Rental Income | $4,070,881 | $4,655,564 | $5,300,008 | $5,833,201 | $6,124,861 |
| Ancillary Income | $331,890 | $354,938 | $382,595 | $401,034 | $401,034 |
| Fee & Other Income | $202,025 | $218,825 | $233,815 | $243,588 | $250,807 |
| Bad Debt | ($162,835) | ($116,389) | ($79,500) | ($58,332) | ($61,249) |
| Discounts | ($125,596) | ($129,927) | ($121,265) | ($103,942) | ($103,942) |
| Effective Gross Income | $4,316,366 | $4,983,011 | $5,715,653 | $6,315,550 | $6,611,512 |
| Total Expenses | ($1,743,800) | ($1,823,500) | ($1,935,326) | ($2,010,619) | ($2,088,552) |
| Net Operating Income | $2,572,565 | $3,159,511 | $3,780,328 | $4,304,931 | $4,522,959 |
| Yield on Cost | 4.68% | 5.74% | 6.87% | 7.83% | 8.22% |
| Debt Service Coverage | 1.25x | 1.54x | 1.84x | 1.51x | 1.33x |
