# Five Star Storage Adds 405-Unit Lincoln, Nebraska, Asset as Its Fourth In-State Location in October 2026

> Five Star's Endurance Capital-backed platform now lists four Nebraska stores after buying the Adams Street corridor asset CBRE marketed as Eagle's Nest. The tuck-in deepens Lincoln density alongside Pioneers Boulevard and Cornhusker Highway while Midwest operators keep buying off-market product.

- URL: https://www.yourcaio.co/news/five-star-storage-adams-street-lincoln-fourth-nebraska-october-2026
- Published: 2026-10-18
- Author: David Cartolano (https://www.yourcaio.co/about)
- Category: Acquisitions
- Tags: Five Star Storage, Endurance Capital, Lincoln Nebraska, Midwest Acquisitions, Eagle's Nest
- Source: [Self Storage Association](https://www.ssamagazine.org/Industry-Report/ArticleID/508/Transactions-and-Deals-October-15-2026)

## Key Takeaways

- The Self Storage Association's October 15, 2026 Transactions and Deals bulletin reported that Five Star Storage acquired a Lincoln, Nebraska, location, the company's fourth facility in the state.
- Five Star Storage now operates the property at 3700 Adams Street, Lincoln, NE 68504, per its corporate location directory; CBRE's June 2025 offering memorandum listed the seller as Eagle's Nest Self Storage with 405 units and 57,770 net rentable square feet.
- CBRE marketed the asset with 89.1% physical occupancy as of June 2025, seven buildings totaling 61,179 square feet on 3.01 acres, including 130 climate-controlled units and an approximately 1,850-square-foot office.
- Five Star entered Nebraska in September 2025 with three Budget Storage buys in Bellevue and Lincoln; the Adams Street acquisition makes three Lincoln stores plus Bellevue within roughly 13 months of platform expansion.
- The deal lands the same week [StorageMart added 441,305 square feet in Q3 2026](https://www.yourcaio.co/news/storagemart-five-facilities-q3-2026-mo-ks-fl-october-2026) and [localstorage closed Vermont CubeSmart assets](https://www.yourcaio.co/news/localstorage-springfield-vermont-cubesmart-acquisition-october-2026), keeping private-operator M&A active despite soft national advertised rates.

**Five Star Storage** acquired a **Lincoln, Nebraska**, self-storage facility reported **October 15, 2026** by the **Self Storage Association**, marking the operator's **fourth location in the state**. Five Star's corporate directory now lists **3700 Adams Street**, a **405-unit**, **57,770 net rentable square foot** property CBRE previously marketed as **Eagle's Nest Self Storage**.

The buy extends a Nebraska push that began in **September 2025** with three Budget Storage assets and shows **Endurance Capital**-backed platforms still aggregating Midwest infill while [national advertised rates remain negative year over year](https://www.yourcaio.co/news/bms-fall-2026-self-storage-street-rates-supply-outlook-october-2026).

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## What Asset Did Five Star Add on Adams Street?

The SSA's **Transactions and Deals: October 15, 2026** bulletin did not print a street address, but Five Star's public location list now includes **3700 Adams Street, Lincoln, NE 68504** alongside its existing **Pioneers Boulevard** and **Cornhusker Highway** stores. CBRE's **June 2025** offering memorandum for Eagle's Nest matches that parcel.

| Metric | CBRE OM (June 2025) | Five Star status (Oct. 2026) |
|--------|---------------------|------------------------------|
| Address | 3700 Adams Street, Lincoln | Listed as Five Star Storage - Adams Street |
| Units | 405 (130 climate-controlled) | Operating under Five Star brand |
| Net rentable SF | 57,770 | Same physical plant |
| Buildings / land | 7 buildings; 3.01 acres | Industrial (I-1) zoning |
| Physical occupancy | 89.1% (June 2025) | Not re-disclosed post-close |

CBRE highlighted **recent asphalt improvements**, **gated access**, and **Cornhusker Highway** visibility. Lincoln's roughly **300,000** residents and **University of Nebraska** anchor demand; CBRE noted healthcare, education, and manufacturing employers within an hour of Omaha.

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## Why Does a Fourth Nebraska Store Matter for Five Star's Strategy?

Five Star is not chasing trophy coastal yield. It is building **metro depth** in markets where institutional capital is thinner and operational lift from a regional platform still moves NOI.

Endurance Capital's **September 2025** announcement framed the first Nebraska trio as Fund II's execution on a **value-add acquisition** mandate. **Ben Hendricks**, CEO of Five Star Storage, said at the time:

> We're thrilled to expand into Nebraska with the addition of these three well-positioned facilities. Bellevue and Lincoln are vibrant, growing communities, and we look forward to serving local residents with the same high level of customer service and reliability that Five Star Storage is known for.

Adding **Adams Street** within a year signals the playbook did not stop at the inaugural portfolio. Operators with call-center coverage, standardized lien workflows, and centralized pricing can absorb a fourth Lincoln key without proportional overhead. That is the same logic [MyPlace Storage applied with four North Carolina buys](https://www.yourcaio.co/news/myplace-self-storage-north-carolina-four-property-october-2026) in the same month.

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## How Does Lincoln Supply Look for a 405-Unit Infill Buy?

CBRE's OM positioned Eagle's Nest as **remote-management ready**: fully fenced, gated, and office-equipped. Five Star already runs **two Lincoln corridors** (Pioneers and Cornhusker). Adams Street sits **near Cornhusker Highway**, an east-west commercial artery with **I-80** access.

National data still shows pressure on **new tenant pricing**, but infill acquisitions trade on **in-place rent rolls**, not greenfield lease-up curves. **89.1%** physical occupancy in mid-2025 is stabilization math, not a development bet.

Operators comparing this trade to [locked-up Stillwater, Oklahoma, disposition coverage](https://www.yourcaio.co/news/locked-up-self-storage-stillwater-oklahoma-sale-october-2026) should note the difference: Five Star bought **operating cash flow** in a state capital, not a lease-up story in a one-off tertiary market.

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## What Does the Deal Signal About October 2026 Deal Flow?

The SSA bulletin bundled Five Star's Nebraska buy with **StorageMart's Q3 expansion**, **Atlanta's new special-use permit ordinance**, and **Marcus & Millichap-brokered sales** including [Pak-A-Nut's $8 million Bellingham trade](https://www.yourcaio.co/news/pak-a-nut-bellingham-8-million-public-storage-october-2026). The through-line is activity at every scale:

- **REIT-adjacent** platforms adding third-party management doors
- **Regional operators** like Five Star compounding in secondary metros
- **Institutional JVs** warehousing hundreds of assets for the next cycle

[Capright's October REIT update](https://www.yourcaio.co/news/capright-october-2026-reit-occupancy-ecri-street-gap-2026) shows occupancy recovery at **92.4%** among tracked REITs, but **0.8%** average revenue growth guidance against **2.7%** expense growth. Buyers who can raise in-place rents on acquired rolls still have a path when street rates for empty units disappoint.

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## The Numbers Worth Writing Down

- **October 15, 2026:** SSA reports Five Star's fourth Nebraska acquisition (Lincoln)
- **3700 Adams Street:** 405 units; 57,770 NRSF; 7 buildings; 3.01 acres (CBRE OM)
- **June 2025 occupancy:** 89.1% physical at Eagle's Nest pre-sale marketing
- **September 2025:** Five Star's first Nebraska entry with three facilities (Bellevue + 2 Lincoln)
- **Endurance Capital Fund II:** value-add sponsor behind Five Star's Midwest growth
- **October 2026 context:** Private platforms still closing while [UBS trimmed Extra Space's price target](https://www.yourcaio.co/news/ubs-extra-space-price-target-152-october-2026) ahead of REIT earnings

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## Density Beats Distance in the Midwest

Five Star does not need a coast-to-coast map to win. It needs **repeatable operations** on clusters of assets where a regional brand compounds marketing and staffing efficiency. Adams Street is a textbook tuck-in: stabilized unit count, highway visibility, and a third Lincoln key on the ring road.

If you operate nearby independents, assume Five Star's Nebraska footprint is no longer a three-store experiment. The fourth door is open. Learn more about how [Your CAIO](https://www.yourcaio.co/about) helps operators benchmark pricing and automation against scaled regional competitors.

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## Sources

- [Transactions and Deals: October 15, 2026](https://www.ssamagazine.org/Industry-Report/ArticleID/508/Transactions-and-Deals-October-15-2026), Self Storage Association
- [Eagle's Nest Self Storage Offering Memorandum (3700 Adams Street)](https://www.cbre.com/resources/fileassets/US-SMPL-182562/878135b2/ae282e8e-c8c1-41ee-a12c-87072fe37157.pdf), CBRE
- [Storage Facilities - Five Star Storage](https://www.fivestarstorage.biz/storage-locations), Five Star Storage
- [Endurance Capital and Five Star Storage Expand into Nebraska](https://www.endurancecapitalpartners.com/news-and-messages/september-2025-update), Endurance Capital Partners
- [Self-Storage Acquisitions and Sales: September 2025](https://www.insideselfstorage.com/self-storage-investing-real-estate/self-storage-real-estate-acquisitions-and-sales-september-2025), Inside Self-Storage

## Frequently Asked Questions

### What did Five Star Storage buy in Lincoln in October 2026?

Per the Self Storage Association on October 15, 2026, Five Star Storage acquired a Lincoln, Nebraska, self-storage location, its fourth in the state. Five Star's website lists 3700 Adams Street, formerly marketed by CBRE as Eagle's Nest Self Storage with 405 units and 57,770 net rentable square feet.

### How many Nebraska facilities does Five Star Storage operate after the Adams Street deal?

Four Nebraska locations: Bellevue at 802 Cary Street plus Lincoln stores at 1801 Pioneers Boulevard, 5350 Cornhusker Highway, and 3700 Adams Street, based on Five Star's location directory and the SSA's fourth-facility characterization in October 2026.

### What were the physical specs on 3700 Adams Street before rebranding?

CBRE's confidential offering memorandum dated June 2025 cited 405 total units (130 climate-controlled), 57,770 net rentable square feet, seven buildings, 3.01 acres, and 89.1% physical occupancy. The site sits near Adams Street and Cornhusker Highway with I-80 access.

### Who backs Five Star Storage's acquisition program?

Endurance Capital Partners affiliates fund Five Star's growth. Endurance's September 2025 update announced the first three Nebraska acquisitions through Fund II and described a value-add strategy across the Midwest. Five Star is headquartered in Fargo, North Dakota.

### How does this Nebraska expansion compare with other October 2026 deals?

Five Star's tuck-in adds density in a state capital metro while larger headlines tracked [Heitman and Andover's 106-property joint venture](https://www.yourcaio.co/news/andover-properties-heitman-106-property-joint-venture-october-2026) and REIT-scale portfolio trades. Mid-market operators are still closing single assets when occupancy and location fundamentals clear underwriting.

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Cite as: David Cartolano, "Five Star Storage Adds 405-Unit Lincoln, Nebraska, Asset as Its Fourth In-State Location in October 2026," YourCAIO.co, 2026-10-18, https://www.yourcaio.co/news/five-star-storage-adams-street-lincoln-fourth-nebraska-october-2026