investment highlights
- AMARILLO, TEXAS // Second fastest growing midsize economy in 2023 according to the UNC Kenan Flagler Business School. In 2022 the Amarillo Economic Development Corporation announced seven significant projects with a total investment of over $2 billion.
- RAPID LEASE UP // Physical Occupancy is already 42 percent through the first 7 months.
- CLASS “A” PROPERTY // 489 Units | 78,750 NRSF that sits on four acres of land.
- NEW CONSTRUCTION // Completed December 2022 | Facility opened in January 2023.
- STRONG DEMOGRAPHICS // $120,000 Average Household Income – The facility sits next to Town Square Village which is a 640 acre master planned development.
- FRONTAGE ON HILLSIDE ROAD // +/- 11,500 Daily Traffic Counts
property overview
Hillside Self Storage is a 489-unit, 78,750 net rentable square foot Class “A” storage facility located in Amarillo, Texas. There are 221 climate-controlled units and 268 traditional drive-up units. The property sits on just over four acres of land and has nine single-story buildings. The facility features several amenities commonly found in Class-A storage facilities such as a large full-service management office, automated entrance gate with keycode access, video surveillance, perimeter fencing, units with roll-up doors, and concrete driveways throughout the property.
The facility was completed in December of 2022 and officially opened its doors in January of 2023. Despite being open for less than a year, physical occupancy hit 42% in August demonstrating significant demand for storage space. The average household income is around $120,000 within three miles of the facility. Hillside Self Storage is located next to Town Square Village, a 640-acre master planned development that includes residential, office space, apartments, retail, and restaurants. The project’s developers have a long-term goal of utilizing 2,500 acres for a total of 13,000 to 14,000 new homes. The facility is strategically located in between Helium Road and Soncy Road, seeing traffic counts of +/- 11,500 vehicles per day. Helium road is currently being converted into the final leg of Loop 335, positioning Hillside Self Storage to be located adjacent to Amarillo’s major loop encircling the city.
The city of Amarillo is located at the center of the Texas Panhandle and part of the Great Plains. Major industries boosting the city’s economy are oil and gas, cattle ranching, and agriculture. The Texas Panhandle is responsible for nearly 28 percent of the cattle production in the United States. Major employers in the region include Bell Flight, Tyson Foods, and CNS Pantex. Amarillo was named the fastest growing midsize economy in 2023 according to the UNC Kenan Flagler Business School. Part of this growth is due to the Amarillo Economic Development Corporation’s recent 7 project, $2.36 billion capital investment in the region in 2022 which is forecasted to create 3,425 new jobs. Among these projects were: CVMR ($1.5 billion investment and 1,000 new jobs), Producer Owned Beef ($840 million investment and 1,600 new jobs), Albers Aerospace ($50 million investment and 400 new jobs), Caviness ($50 million investment and 100 new jobs), Coast Packing ($30 million investment and 60 new jobs), Austin Hose ($15 million investment and 30 new jobs), and Jax Transport ($3 million investment and 200 new jobs). In addition to the growing economy, the Amarillo area boasts many visitor attractions such as Palo Duro Canyon, the Don Harrington Discovery center, Cadillac Ranch, and the Amarillo Zoo.
