CubeSmart (Managed) Two Property Portfolio – Northglenn, CO & Las Vegas, NV

Property Location

11402 Cherokee Street
Northglenn, CO 80234

2645 S Nellis Blvd
Las Vegas, NV 89121

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investment highlights- Northglenn, Colorado

  • EXCELLENT DEMOGRAPHICS // The trade area boasts attractive demographics of approximately 145K people, 54K households, and an average household income of 92k within three miles with a projected compound annual growth rate of 1.5 percent.
  • HIGH BARRIER TO ENTRY TRADE AREA // The city of Northglenn has allowed minimal new competition into the area, bolstering an already high occupancy market and a balanced seven square feet per capita.
  • STRONG HISTORIC OCCUPANCY // The property is currently 94 percent physically occupied with a track record of high occupancy allowing for favorable revenue growth well into the foreseeable future.
  • ATTRACTIVE LAYOUT AND LOCATION // Well maintained single-story block construction with paved drives throughout secured via wrought iron perimeter fencing and multiple digitized gates. Excellent visibility to Interstate 25 with over 125k passing vehicles per day.

investment highlights- LAS VEGAS, NEVADA

  • STRONG REVENUE GROWTH // The property has achieved excellent revenue growth through the back half of 2020 and into the first quarter of 2021 as the Las Vegas economy begins to fully reopen. In addition, there is an opportunity to fill some vacancy in the retail portion of the property that was hit hard by the pandemic.
  • EXCELLENT LOCATION // Located in dense infill retail corridor with over 217k people and 75K households in the three-mile radius and car counts exceeding 41K vehicles per day on Nellis Boulevard. National tenants in the immediate area include Starbucks, CVS and Walgreens to name a few.
  • HIGH OCCUPANCY TRADE AREA // The property is 96 percent occupied as of March 2021 bolstered by a favorable 7.85 square foot per capita ratio and 90 plus percent average occupancy across the trade area.
  • LIMITED NEW COMPETITION // High barrier to entry trade area with only one new competitor delivered the last ten years.

Broker Information

Charles "Chico" LeClaire

Executive Managing Director / Colorado Property

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

Adam Schlosser

Senior Vice President / Colorado Property

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

Jordan Farrer

Investment Associate / Las Vegas Licensee / Nevada Property

Phone: 801.736.2643
Email: jfarrer@marcusmillichap.com
License: NV S.0192979

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Contact The LeClaire-Schlosser Group