Public Storage Snags 6 DFW Facilities
- Jan 30, 2018
Working on behalf of a joint venture between Advantage Storage and Harrison Street Real Estate Capital, JLL Capital Markets has arranged the sale of six self-storage properties in the Dallas-Fort Worth market. Public Storage acquired the 430,000-square-foot portfolio.
Built between 2001 and 2017, the Class A facilities add up to more than 3,300 units. According to Yardi Matrix data, the portfolio includes the properties located at:
- 10410 E. Northwest Highway in Dallas
- 1241 Prosper Commons Blvd. in Prosper
- 4028 N. Highway 78 in Wylie
- 4028 N. State Highway 205 in Rockwall
- 660 Justin Road in Rockwall
- 855 Lois St. in Roanoke
All self-storage assets are located near major roads, such as interstates 35 West and 635 or the Dallas North Tollway. The Dallas-Fort Worth market is densely populated and the average annual household income within a three-mile radius of each property is approximately $105,000, according to JLL. Characteristics of the facilities include climate-controlled units, drive-up units, 24-hour video surveillance and secure fencing with electronic access control.
JLL Managing Directors Steve Mellon and Brian Somoza led the team that closed the deal.
Last December, Public Storage opened a Houston-area facility, comprising 1,200 units.
Image courtesy of JLL