10220 Highway 71 S - FT. SMITH MSA 2-PROPERTY SELF-STORAGE

Cushman & Wakefield Self Storage Advisory Group has been exclusively retained to offer for sale, the Ft. Smith MSA 2-Property Self-Storage Opportunity - Greenwood and Ft. Smith, AR
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.