Noah’s Ark Self Storage

Property Title

7557 Greenville Avenue
Dallas, TX 75231

overview video

investment highlights

  • Class A+ Institutional Quality Asset Completed in December 2019
  • Fronts on Greenville Avenue – Daily Traffic Counts over 36,000
  • Adjacent to 80-Acre Midtown Park Residential Development
  • 85,644 NRSF Including 2,100 SF of Retail Space | 767 Units
  • Busy Urban Infill Location of Dallas – 3 Mile Population 170,050
  • Average Household Income – $106,840
  • High Barriers to Entry – Project Took Four and a Half Years to Complete
  • Numerous Nearby Economic Drivers – Texas Health Presbyterian Hospital, Northpark Center

property summary

Noah’s Ark Self Storage is a 767-unit, 85,644 net rentable square foot Class A+ institutional-quality facility sitting on approximately 1.56 acres in Dallas, Texas. The property is in lease up after opening in December of 2019. There is also approximately 2,100 square feet of retail space that was requested by the city of Dallas and can provide stable ancillary income given the densely populated surroundings. Noah’s Ark Self Storage features numerous amenities found in modern institutional quality storage facilities including, but not limited to a full service manager’s office and showroom, video surveillance cameras throughout the property, several personalized key-pad entrances, a covered loading/unloading area, and multiple elevators allowing convenient access throughout the facility.

Noah’s Ark Self Storage is about 15 minutes north of downtown Dallas in one of the busier areas of the DFW Metroplex. It fronts on Greenville Avenue and more than 36,000 vehicles pass by the facility each day. The asset benefits from an abundance of nearby economic drivers such as numerous Fortune 500 Companies Headquarters, including State Farm, Texas Instruments and Fossil Group all located within 10 miles. Noah’s Ark Self Storage is next to the Texas Health Presbyterian Hospital and Walnut Hill Medical Center, and close to the Northpark Center Shopping Mall, the medical hub and shopping hub of north Dallas respectively. The DART Walnut Hill Commuter Station is also within walking distance of the facility.

Noah’s Ark Self Storage is expected to enjoy a quick lease up thanks to the high barriers to entry to new competition that exist.  The project took around four years to get completed due to the city of Dallas’ rigorous zoning, permitting, and planning process, and several other projects have been denied in that time span. Including the Noah’s Ark Self Storage there is currently around 7.92 square feet of self-storage per capita in a three-mile radius.

Furthermore, this stretch of Greenville Avenue has over 20,000 residents living within one mile and over 170,000 within a three-mile radius. The facility’s trade area includes Preston Hollow which is one of the most affluent neighborhoods in the state of Texas and is home to President George W. Bush. In fact, the George W. Bush presidential library on the SMU campus is just a few miles away. To the east of the facility is the densely populated Lake Highlands area. Perhaps the most noteworthy development is what’s taken place right next to the facility. The 80-acre Midtown Park development has seen thousands of single-family homes and apartment units recently built that replaced outdated rental units that were torn down over a decade ago. There are still multi-family tracts being developed and the ease of access to the hundreds of restaurants, shops and other services nearby are a big draw, and conveniently Noah’s Ark Self Storage is right in the middle of it all.

Broker Information

Dave Knobler

First Vice President

Phone: 713.452.4200
License: TX 606252

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
License: CO EA00147681

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