MacArthur Storage - Self Storage
Investment Opportunity

INVESTMENT HIGHLIGHTS

Institutional, quality portfolio with substantial scale
Located in Shawnee, a growing suburb of the Oklahoma City MSA, a top 40 market
Operational value-add opportunity with upside available through revenue management, tenant insurance sales and professional third-party management ($15,800 monthly revenue gap between street rates and what tenants are current paying)
High-quality construction with long-established presence
Current occupancy - 90%
27,040 RSF coming online in August at MacArthur

GENERAL DESCRIPTION

The MacArthur offering is a 157,9500 rentable square foot (including open parking) located in Shawnee OK, a suburb of Oklahoma City, a top 40 market. The assets are a combination of on-site manager and remotely managed, providing an attractive amount of scale for existing and new market participants. The facility is equipped with control system access and security cameras. The parcel measures 15.71 acres.

The opportunity provides further upside through a combination of realistic, achievable strategies:

Effective tenant insurance sales strategy (sold less than $1,000 total in 2020 across the almost 1,100 unit portfolio),
Revenue Management (Rates for MacArthur haven’t be increased since 2018)
Continued lease of recent expansion at MacArthur street
Remote management (kiosk)

Considering the immediate scale, attractive in-place yield with realistic room for improvement, high barriers to entry based on zoning, density, market rental rates and soaring construction costs, this is a compelling value-add property in a major metro market.

MacArthur Street Storage

MacArthur Street Storage currently contains 902 units within 151,700 rentable square feet (including open parking) and an on-site property office. It possesses prominent frontage with signage and is located on MacArthur Street, just east of Highway 177 (19,000 vehicles per day) and south of Interstate 40 (31,400 vehicles per day). The property is sited on 13 acres on the eastern side of Shawnee with good demographics ($63,474 Average HH Income) and population (14,689) within the five-mile trade area.

The property is adding three new buildings comprised of 27,250 RSF of climate and non-climate-controlled storage, which has increased the Potential Rental Income by approximately $215,000. It is the dominant storage facility in the Shawnee market. There is further expansion available at MacArthur to further fulfill demand.