SHREVEPORT, LA | The LeClaire Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a three property self storage portfolio located in northwest Louisiana. The entire asset includes 3,250 units and 336,602 net rentable square feet.
Thomas Parsons, Investment Associate, and Adam Schlosser, Senior Vice President Investments, had the exclusive listing to market the property on behalf of the seller, a local LLC. “Shreveport Louisiana isn’t experiencing the surge of self storage construction that other major cities are facing which helped drive interest from multiple national investors,” said Thomas Parsons, listing broker. The buyer was a private equity fund out of the East Coast.
The facilities are best-in-class assets with strong occupancies and rents. Built in phases between 1997-2009, each facility has an impressive 112,000 net rentable square feet on average and is 92 percent climate controlled. Each location has excellent signage and visibility from four-lane surface roads with designated turning lanes.