Self Storage at Centerra – Loveland, Colorado

Property Location

3702 Aldrin Drive
Loveland, CO 80538

investment highlights

  • RENTAL RATE UPSIDE // The facility has achieved above forecasted occupancy gains after the most recent expansion in 2021 paving the way for substantial rate increases now that the property is above 90 percent occupied. Currently, asking rates are approximately 12 percent below the market comps in the three-mile trade area.
  • PREMIUM CONSTRUCTION // Class “A” single story construction with premium high gauge metal buildings and concrete drives throughout. Institutional quality amenities to include a large well appointed leasing office and security features throughout.
  • EXPANSION POTENTIAL // At over 90 percent occupancy, the property is primed to begin construction on the already approved 15,000 square foot non-climate controlled expansion on the southern side of the property. There is also the potential to change plans and build a triangular climate-controlled building to maximize density and rental rates if desired.
  • SUBMARKET GROWTH // The Centerra area of Loveland has experienced tremendous commercial and residential development over the last few decades with population growth exceeding 30 percent since 2020 and forecasted to grow another 10 percent over the next five years. Amazon is currently under construction on a new 600,000 square foot distribution center less than three miles to the north of the property.
  • STRONG OPERATIONAL MOMENTUM // 30 percent year-over-year revenue growth for the month of May with strong momentum heading into the third quarter of 2022.

Broker Information

Adam Schlosser

Senior Vice President

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

Charles "Chico" LeClaire

Executive Managing Director

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

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Contact The LeClaire-Schlosser Group