Northwest Louisiana Three Property Portfolio

Property Title

Shreveport, LA

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investment highlights

  • List Price: $43,000,000
  • CAP Rate: 6.50%
  • Total NRSF: 336,602
  • Total Units: 3,250
  • 92% Climate Controlled
  • Best in Market Location + Construction
  • 95% Physical Occupancy
  • New Roofs on Two Facilities
  • Local Owners / Sellers
  • Below Market Rents
  • 77% of Existing Tenants on Old Rates

property summary

This is a rare chance to acquire three large climate-controlled facilities in prime locations. Built in phases between 1997-2009, each facility has an impressive 112,000 net rentable square feet on average and is 92 percent climate controlled. Each location has excellent signage and visibility from four-lane surface roads with designated turning lanes. Two of the three facilities are getting brand new roofs in October/November 2018 due to hail damage.

The facilities are best-in-class assets with an average physical occupancy of 95 percent. 77 percent of the existing tenants rents have not been raised to current asking rates, which are currently 7 – 11 percent under the market. The current local owners do not receive any revenue from selling tenant insurance. This is an excellent opportunity for an investor to acquire a high quality stabilized portfolio with upside through economic occupancy increases and the implementation of an institutional quality revenue management platform.

Broker Information

Thomas Parsons

Associate

Phone: 303.328.2068
Email: tparsons@marcusmillichap.com
License: CO FA100071008

Adam Schlosser

First Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

Chris Shaheen

Broker of Record

Phone: 225.376.6750
Email: cshaheen@marcusmillichap.com
License: BROK.0995692662-ACT

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