Colliers Spearheads Austin Storage Deal
- Aug 18, 2020
Colliers International has finalized the disposition of Private Warehouse Mini-Storage, a 24,000-square-foot property in Pflugerville, Texas. Associate Kyle Newswanger facilitated the transaction on behalf of the seller, a private investor. An out-of-state private investor acquired the asset. Around the time of the sale, the property was 98.65 percent occupied.
Located at 612 Farm-to-Market 685 on a 3-acre site, the facility encompasses five single-story buildings completed in three phases between 1995 and 2002. The property provides 207 units ranging in size from 25 to 300 square feet. The store has electronic gate access, security cameras, moving and packing supplies, drive-up access and both auto and RV parking.
Situated in the retail corridor along Farm-to-Market 685, the site is exposed to daily traffic of 21,150 cars, according to Colliers data. The property is 16 miles northeast of downtown Austin. There are 11 other self storage facilities within a 3-mile radius, Yardi Matrix shows.
Additionally, the facility is within 1.5 miles from Amazon’s upcoming $250 million distribution center in the city. The e-commerce giant is developing a four-story building with a footprint spanning 820,000 square feet that will feature 40,000 square feet of office space and 3 million square feet of robotic mezzanine space.