Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area

Property description

Offering Price - Unpriced

Rentable Square Feet - 64,328

Effective Rental Rate - Climate Controlled - $20.52psf / Non-Climate - $13.33psf

Number of Units - 590

Current Occupancy - Economic - 73% / Physical - 88%

Offer Deadline - July 9th 2021

Investment highlights

Upside Potential – With a current physical occupancy over 88% and a current economic occupancy over 73%, the property is poised for rapid revenue growth through rate increases to in-place tenants and continued market rate optimization.


Visibility from High Traffic Roadway – The property has frontage and visibility along Gulfway Drive (State Highway 87), a heavily traveled commercial thoroughfare, with traffic volumes exceeding 29,700 cars per day.


Moderate Competition – There are five existing self storage facilities within the subject’s three-mile trade area resulting in approximately 4.1 square feet of storage space per person.


Diverse Unit Mix – The facility features a diverse unit mix which includes: climate controlled units, drive-up units, office/warehouse units, covered parking units and surface parking units.


Beaumont-Port Arthur MSA – The subject property is located in Groves, Texas which is part of the Beaumont-Port Arthur MSA. Located just over an hour east of Houston, the Beaumont-Port Arthur MSA is a key player in the global energy sector. Beaumont-Port Arthur is home to the world’s largest oil refinery and some of the biggest industry names, including Exxon, Motiva Enterprises and Valero.

Last Updated Date: 14 Sep 2021
Steve Mellon
Steve Mellon
Managing Director, Capital Markets
Colby Mueck
Colby Mueck
Senior Managing Director, Houston Office Co-Head
Broker Licenses
TX-0500827

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Last Updated Date: 14 Sep 2021

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