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 Scotty’s Corie’s Self Storage, a 33,191 square foot storage facility with 224 non-climate controlled units located in Shreveport, Louisiana.
Dave Knobler, First Vice President Investments in Marcus & Millichap’s Houston office, and Charles “Chico” LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller. The Buyer was also procured by Knobler and LeClaire. “The asset was only around 50 percent economically occupied when we took it to market which made for a bit of a challenge from a cash flow perspective, but we found an investor who was able to obtain an SBA loan to acquire the property,” said Knobler. So far this year, The LeClaire Group has sold 39 self-storage facilities.
Corie’s Self Storage sits about a half mile north of Interstate 20 and the entrance to the Shreveport Regional Airport. Shreveport is the commercial hub of the Ark – La- Tex region in Northwest Louisiana, and is becoming acclaimed for its rapidly improving business climate. In the past two years Shreveport has been recognized as one of the top ten most millennial friendly cities in the country by Bloomberg Business, and the number one place to build a new business by WalletHub. In 2014 a Harvard University study rated Shreveport-Bossier as the 3rd happiest city in America. The service industry and tourism are a big part of the Shreveport/Bossier City economy as well with six casinos and a horse racetrack.