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Self-Storage Facility

Hideaway Harbor Self Storage

5506 Jefferson Paige Rd, Shreveport, LA 71119

Listing Price: Request For Offer

Number of Units
387
Occupancy
85.0%
Gross SF
57,543
Rentable SF
57,543
Year Built
2018

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Hideaway Harbor Self Storage located in Shreveport, Louisiana. Hideaway Harbor Self Storage is a 57,543 net rentable square foot facility comprised of traditional non-climate units, enclosed boat & RV units, and uncovered outdoor parking spaces. There are 319 non-climate units (41,950 NRSF), 33 enclosed boat & RV units (15,592 NRSF), and 36 outdoor parking spaces. Hideaway Harbor Self Storage offers amenities including, but not limited to video surveillance throughout the property, an automated security gate with keycode access, Janus roll up doors, concrete driveways, and an Insomniac kiosk system located in a standalone building that sits at the front of the property. The software allows for 24/7 access to the facility. In addition, 253 units are equipped with an alarm system from PTI Security System operated by Storlogix. If a unit is accessed without a corresponding code to that unit an alert is sent to the owner’s computer/phone. The facility is located on Jefferson Paige Road a block away from interstate 220 and 2 miles from Shreveport Regional Airport. Daily traffic counts average approximately 8,068 vehicles per day. While a new convenience store adjacent to the east of the facility is a good sign for the immediate area, the construction symbolizes a trend that is far greater. According to a report from Self Financial, out of all midsize U.S. metros, Shreveport experienced the 2nd largest increase in business applications from 2019 to 2020. While total business applications across the U.S. grew markedly since the beginning of the pandemic, the strongest increases appeared in the southeast. Mississippi, Georgia, and Louisiana lead the nation with application increases of over 55%. Furthermore, there are 4 prominent developments bringing jobs to the Shreveport metropolitan area. The North Shreveport Amazon Distribution Center promises to bring 1,000 direct jobs and 1,800 indirect jobs when it opens in mid-2022. The Amazon facility is located just under 8 miles from Hideaway Harbor. Bia Energy Operating Company is looking at building a $550 million methanol production plant. If constructed, the plant would produce half-a-million metric tons of methanol annually. The plant would also feature carbon capture capabilities, that would reduce CO2 emissions by more than 90 percent compared to other plants of its kind. In addition, the Teal Jones Group is looking to develop a $110 million lumber plant in Bossier City. The company expects to source southern yellow pine from its producer partners and plans to sell residual fiber products (chips, sawdust, etc.) to local pulp and pellet plants. Lastly, Ternium USA is planning to expand its port of Caddo-Bossier facility with an investment of $98 million. According to Business Report, the steel producer is looking to add a second coil coating paint line with an annual capacity of 120,000 tons. The continued economic growth of the Shreveport metropolitan area lends itself well to potential rent growth and increased demand for storage. Hideaway Harbor Self Storage is owned and operated by a local father/son development group who operate the property with a kiosk in an unmanned fashion. A new owner could continue to run the facility unmanned thereby eliminating the estimated $43,000 payroll in the underwriting. The asset is currently around 91 percent physically occupied but only around 79 percent economically occupied providing substantial upside to a more sophisticated investor. In addition to reducing economic vacancy, a new owner can take advantage of the additional 2+ acres of expansion land that is included in the sale of the property.

Investment Highlights

  • Construction: Phase 1 2015 | Phase 2 2018 – 57,543 Total NRSF
  • 319 Non-Climate Units, 33 Enclosed Boat & RV Units, 36 Outdoor Parking Spaces
  • 91 Percent Physical Occupancy (by NRSF)
  • No Onsite Employees – Facility Run By Kiosk
  • Located 2 Miles From Shreveport Regional Airport
  • Amenities Such as Janus Roll Up Doors, Concrete Drives, Security Gate with Keycode Access, 24/7 Kiosk Access, And Individual Alarms For Each Unit

Exclusively Listed By

Financing By

Self-Storage Facility

Hideaway Harbor Self Storage

Listing Price: Request For Offer

Number of Units
387
Occupancy
85.0%
Gross SF
57,543
Rentable SF
57,543
Year Built
2018

Investment Highlights

  • Construction: Phase 1 2015 | Phase 2 2018 – 57,543 Total NRSF
  • 319 Non-Climate Units, 33 Enclosed Boat & RV Units, 36 Outdoor Parking Spaces
  • 91 Percent Physical Occupancy (by NRSF)
  • No Onsite Employees – Facility Run By Kiosk
  • Located 2 Miles From Shreveport Regional Airport
  • Amenities Such as Janus Roll Up Doors, Concrete Drives, Security Gate with Keycode Access, 24/7 Kiosk Access, And Individual Alarms For Each Unit

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Hideaway Harbor Self Storage located in Shreveport, Louisiana. Hideaway Harbor Self Storage is a 57,543 net rentable square foot facility comprised of traditional non-climate units, enclosed boat & RV units, and uncovered outdoor parking spaces. There are 319 non-climate units (41,950 NRSF), 33 enclosed boat & RV units (15,592 NRSF), and 36 outdoor parking spaces. Hideaway Harbor Self Storage offers amenities including, but not limited to video surveillance throughout the property, an automated security gate with keycode access, Janus roll up doors, concrete driveways, and an Insomniac kiosk system located in a standalone building that sits at the front of the property. The software allows for 24/7 access to the facility. In addition, 253 units are equipped with an alarm system from PTI Security System operated by Storlogix. If a unit is accessed without a corresponding code to that unit an alert is sent to the owner’s computer/phone. The facility is located on Jefferson Paige Road a block away from interstate 220 and 2 miles from Shreveport Regional Airport. Daily traffic counts average approximately 8,068 vehicles per day. While a new convenience store adjacent to the east of the facility is a good sign for the immediate area, the construction symbolizes a trend that is far greater. According to a report from Self Financial, out of all midsize U.S. metros, Shreveport experienced the 2nd largest increase in business applications from 2019 to 2020. While total business applications across the U.S. grew markedly since the beginning of the pandemic, the strongest increases appeared in the southeast. Mississippi, Georgia, and Louisiana lead the nation with application increases of over 55%. Furthermore, there are 4 prominent developments bringing jobs to the Shreveport metropolitan area. The North Shreveport Amazon Distribution Center promises to bring 1,000 direct jobs and 1,800 indirect jobs when it opens in mid-2022. The Amazon facility is located just under 8 miles from Hideaway Harbor. Bia Energy Operating Company is looking at building a $550 million methanol production plant. If constructed, the plant would produce half-a-million metric tons of methanol annually. The plant would also feature carbon capture capabilities, that would reduce CO2 emissions by more than 90 percent compared to other plants of its kind. In addition, the Teal Jones Group is looking to develop a $110 million lumber plant in Bossier City. The company expects to source southern yellow pine from its producer partners and plans to sell residual fiber products (chips, sawdust, etc.) to local pulp and pellet plants. Lastly, Ternium USA is planning to expand its port of Caddo-Bossier facility with an investment of $98 million. According to Business Report, the steel producer is looking to add a second coil coating paint line with an annual capacity of 120,000 tons. The continued economic growth of the Shreveport metropolitan area lends itself well to potential rent growth and increased demand for storage. Hideaway Harbor Self Storage is owned and operated by a local father/son development group who operate the property with a kiosk in an unmanned fashion. A new owner could continue to run the facility unmanned thereby eliminating the estimated $43,000 payroll in the underwriting. The asset is currently around 91 percent physically occupied but only around 79 percent economically occupied providing substantial upside to a more sophisticated investor. In addition to reducing economic vacancy, a new owner can take advantage of the additional 2+ acres of expansion land that is included in the sale of the property.

Exclusively Listed By

Financing By

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