Fulton Realty Capital guided a private investor through the purchase of a self-storage facility in southwest Louisiana. Asset sourcing, CMBS financing, and all negotiations were orchestrated by Fulton's commercial real estate advisors.
Located off a central parkway near a retail corridor, the asset has strong demographics and excellent connectivity. The over 47,000 rentable square foot facility includes 216 climate-controlled storage units, 202 standard units, and 2 RV parking spaces.
The property boasted an 80% physical occupancy rate at the time of closing and offers significant upside potential due to its below-market rental rates. Fulton will work with the facility's new professional management team to enhance overall operations, improve the facility's tenant insurance program, and bolster its online presence.
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