FollettUSA Enters San Antonio Storage Market
- Mar 23, 2018
FollettUSA has purchased Extra Space Storage, a 93,000-net-rentable-square-foot, Class A self-storage facility in San Antonio. SkyView Advisors represented the seller in the transaction.
The property is located on roughly 2.7 acres at 4515 De Zavala Road, near Interstate 10. More than 22,000 cars transit the area daily and over 100,000 people live within a three-mile radius. Completed in 2005, Extra Space Storage comprises 739 climate- and 24 non-climate-controlled units, ranging from 25 to 400 square feet. The facility also features drive-up access, security cameras and parking spaces. Other services provided include on-site management and 24-hour access.
“This Class A property sold during lease-up at approximately 50 percent physical occupancy. The buyer is a new entrant into the San Antonio market and has a diverse portfolio of real estate holdings both within and outside of self storage. Our marketing process ensured that we reached all potential buyers for this deal, which is significant given the changing landscape of the buyer pool,” said Ryan Clark, director of investment sales at SkyView Advisors, in prepared remarks.
Images courtesy of SkyView Advisors