New Orleans MSA 6-Property Self-Storage Portfolio Opportunity – New Orleans, LA

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Price
Market Bid
NRSF
468,872
Marrero, Harvey, New Orleans & Metairie, LA
Portfolio
Six well-maintained and secure self-storage properties in and around New Orleans with occupancies between 80% and 92%
Rare opportunity to establish a presence in a Top 50 MSA by acquiring over $7.7 million in in-place NOI with occupancy upside at the Erato Street store from its 2020 expansion
This investment opportunity allows asset managers to tour all six assets in a single day, providing a seamless and efficient means of portfolio management
Material occupancy upside in the Erato Street store because of a recently delivered expansion and at Manhattan Blvd because of seasonal occupancy trends
Based on our projections, we estimate that a buyer can increase revenue by over $1.28 million by stabilizing the physical and economic occupancies

Cushman & Wakefield’s Self-Storage Advisory Group has been exclusively retained to offer for sale the Safeguard Self Storage – New Orleans Portfolio.

This portfolio presents a unique opportunity to acquire six self-storage properties located in the Greater New Orleans area. The portfolio consists of 468,872 rentable square feet of self-storage strategically located throughout New Orleans. The six facilities were completed between 1997 and 2020. As of May 2023, the six facilities had physical occupancies between 80% and 92%. The Erato Street store in Downtown New Orleans is still completing the lease-up of its 44,136 rentable square foot expansion which is currently at 87% occupancy.

New Orleans is a diverse and resilient city with a thriving economy. Key sectors include tourism, energy, healthcare, education, and technology. The tourism industry attracts millions of visitors each year, drawn to the city’s rich culture and vibrant attractions. The energy sector is prominent, with a strong presence of oil and gas companies. The healthcare and education sectors are robust, with world-class medical facilities and esteemed universities. The city is also fostering a growing technology and startup ecosystem. New Orleans is expected to continue in its development, with ongoing investments in infrastructure and revitalization efforts.

This portfolio is perfect for a buyer looking to establish a presence in a Top 50 MSA with high-quality, assets generating over $7.7 million in in-place NOI. The Erato Street store was recently expanded and is
still in lease-up of the added square footage. This provides significant upside in revenue by stabilizing the occupancy at this store. Based on our projections, we estimate that a buyer can increase revenue by over $1.28 million within 24 months by increasing occupancy from 87% to 92% and by bringing the economic occupancies in line with the market.

New Orleans Self-Storage 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 New Orleans MSA, 6-Property, Self-Storage Portfolio Opportunity – New Orleans, LA. 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, 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. Upon receipt of a written request, you will return the Offering Memorandum to the seller or Broker, without retaining any copies. 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. This agreement shall be governed by the laws of the State of New York without regard to conflict of laws principles. I have read & agree to terms of the Confidentiality Agreement above.



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