Merit Hill Buys Texas Storage Facility
- Jun 28, 2018
Merit Hill Capital has acquired Safe Keeping Self Storage, a 76,485-square-foot facility in Baytown, a suburb of Houston. JLL’s Capital Markets experts arranged the transaction on behalf of the seller, Weiss Realty Group. The property is currently 93 percent occupied.
Located at 120 S. Alexander Drive, the self-storage property occupies more than 9 acres near Freeway 99 and is approximately 30 miles from downtown Houston. Around 52,000 people live in the area, which offers only four self-storage facilities within a three-mile radius. Constructed in 1970, the one-story building comprises 782 units, ranging in size from 25 to 200 square feet. Characteristics of the property include climate control, electronic access control, 24-hour video surveillance, a covered loading area and eight office or warehouse units.
JLL’s brokerage team included Steve Mellon and Brian Somoza. In February, the team arranged the sale of a 951-unit sustainably designed self-storage facility located in Austin.
Image courtesy of JLL