JLL Brokers 3 Self Storage Sales
- Jan 11, 2019
JLL Capital Markets has arranged the sale of three self storage facilities, a total of 2,250 units in Texas and Illinois. The properties changed hands in separate deals.
Store Space has acquired the 976-unit Prestige Self Storage from Prestige Organization LLC. Located at 4815 LJ Parkway in Sugar Land, Texas, the storage is just off Freeway 6, approximately 25 miles from downtown Houston.
The second deal included the sale of Access Self Storage, a 522-unit facility, located at 10800 Red Bluff Road in Pasadena, Texas. USA Self Storage sold the storage property to FollettUSA.
The third sale arranged by JLL was in Crestwood, Ill. Vertical Field Capitals LLC sold the 752-unit facility situated at 4501 W. 135th St. to a private real estate fund advised by Crow Holdings Capital. The storage underwent a 37,000-square-foot expansion in 2017 and an additional renovation is 2018, bringing the property to around 81,000 square feet.
Managing Directors Steve Mellon and Brian Somoza brokered the sale of all three properties. Last month, in an interview with Commercial Property Executive, Somoza talked about the national self storage business and revealed which are the most attractive markets across the country.
Image courtesy of JLL