Ft. Smith MSA 2-Property Self-Storage Opportunity – Greenwood & Fort Smith, AR

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Price
Market Bid
NRSF
61,945
Fort Smith, AR
2-Property Portfolio
Newly Constructed Class A Property 2023/2020
Exceptional Lease-Up History of 40,000 NRSF Less than 1 Year
Physical Occupancy 90.6% and Upside with Economic Occupancy at 59.9%
Gated Access, Video Surveillance, Standing Seam Roofs, Concrete Drives
Professional Management Upside
Highway 10 Economic Investment $58 Million

The Ft. Smith, AR Self Storage Portfolio represents an opportunity to acquire two newly constructed self-storage facilities in Ft. Smith and Greenwood, AR.

Located just 8 miles from one another, the facilities are currently owner-managed with no paid employees on site. Extremely well positioned with frontage on U.S. Highway 71, the facilities feature 482 of climate-controlled and standard storage in addition to 41 newly completed parking spaces on 1.0 acre of land. The opportunity has exceedingly strong historical lease up activity at both locations and provides a buyer the ability to quickly realize double digit returns through rate management on existing customers and parking lease up.

Both facilities have witnessed exceptional lease-up activity with Greenwood at 89.4% physical occupancy and 50.2% economic occupancy after opening in April of 2023. The current physical and economic occupancies at the Southside location (built in 2020) are 93.4% and 77.2%, respectively. The economic occupancy achieved at Southside directly illustrates the opportunity for rate management on existing customers at the Greenwood location.

The Greenwood site is located at the junction of Highway 10 and Highway 71. Construction is underway that will more than double the travel capacity of Highway 10 from 2 lanes to 5 lanes by 2026. The expansion will dramatically increase travel volume and curb appeal allowing a buyer to push revenue even higher over the next several years.

The Greenwood Self Storage location is constructed 2.4 acres and is comprised of 90 climate-controlled units and 191 drive-up units. The facility contains 39,575 net rentable square feet covering 323 total units. The Greenwood location comes with an additional 1.0 acre of land including 41 outdoor Boat/RV spaces to be completed before closing.

The Southside Self Storage location, completed in 2020 with 2.0 acres of frontage on U.S. Highway 71, contains 68 climate-controlled units, 83 drive-up units, and 7 parking units. The facility includes 22,370 net rentable square feet covering 159 total units.

Fort Smith, AR Portfolio

  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Fort Smith, AR Self-Storage Portfolio opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.



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