CubeSmart (Managed) – Lake Charles, LA

Property Location

3100 Country Club Road
Lake Charles, LA 70605

investment highlights

  • CLASS “A” INSTITUTIONAL QUALITY // This two story 2018-built facility offers mostly climate controlled units but also interior access non-climate and drive up non-climate units. The new owner will benefit from existing security cameras, hallway lights on motion detectors, keypad controlled doors, unloading areas, and a spacious leasing office.
  • STRONG LEASE UP TREND // The facility opened in July 2018 and was 39 percent physically occupied in 12 months, 76 percent in 24 months, and 95 percent in just 26 months. Physical occupancy has been 98 percent or greater since December 2020 and economic occupancy has been catching up.
  • POISED FOR ECONOMIC OCCUPANCY GROWTH // Economic occupancy has been increasing as units are re-rented at higher rates. Example: in May 2021 the average 10×10 rented for $143/mo but there are 227 older 10×10 tenants paying an average of $99/mo.
  • ATTRACTIVE LOCAL DEMOGRAPHIC TRENDS // Within three mile average HH income is $113,000 and the population is projected to grow 9.8 percent by 2025. Lake Charles, Louisiana is the 215th largest MSA.
  • STRONG AREA EMPLOYMENT // Lake Charles is a major petrol and refining center including Citgo and Phillips 66. McNeese State University and its 7,000 students is three miles away. Two casinos with a combined 1,740 rooms are two and one half miles away: L’Auberge du Lac and the Golden Nugget.

Broker Information

Thomas Parsons

Senior Associate

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

Adam Schlosser

Senior Vice President

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

Chris Shaheen

Broker of Record

Phone: 225.376.6750
Email: chris.shaheen@marcusmillichap.com
License: BROK.995692662-ACT

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