JLL Arranges Sale, Secures Financing for Houston Self-Storage Asset
- Jul 06, 2016
By Adriana Pop, Senior Associate Editor
Houston—Simply Self Storage is the new owner of Access Self Storage, a recently built 839-unit self-storage facility in Houston. JLL’s Capital Markets team has completed the sale and also procured acquisition financing.
Open since 2015, the three-story self-storage building is located at 650 Bay Area Blvd. and offers a total net rentable area of 94,475 square feet. The Class A property features 800 climate controlled units and 39 non-climate controlled drive-up units, as well as 24-hour video surveillance and an aesthetically appealing customer service office, designed for retail sales.
JLL Managing Directors Steve Mellon and Brian Somoza led the JLL team on the sale, while Vice President Griffin Guthneck led the financing efforts.
“With best-in-class design and state-of-the-art construction, this facility leads the market in overall quality, providing investors with the highest quality self-storage space available in its market,” Somoza said in prepared remarks. “Additionally, the property is positioned in a populous area with above average household incomes and benefits from excellent visibility along the retail-oriented Bay Area Boulevard.”
Comprising a team of more than 2,000 specialists, JLL Capital Markets provides capital solutions for real estate investors and occupiers all over the world. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally.
Image courtesy of Simply Self Storage