JLL Brokers Sale of 934-Unit Self-Storage Facility in Alexandria
JLL has arranged the sale of Oakville Self Storage, a 934-unit self-storage facility in Alexandria, VA. The facility is located in the Oakville Triangle master-planned redevelopment at 405 Swann Ave.
Oakville Self Storage is a three-story building originally constructed in 1949 and converted to a high-quality self-storage facility in 1989. The facility features a combination of non-climate-controlled interior units and dock-high drive-up units along with elevator access to upper floors. The property will be undergoing significant exterior and interior renovations, designed by BWD Architects, to become a Class A facility. Oakville Triangle is a master-planned, one million-square-foot, mixed-use redevelopment comprising Class A multi-housing, townhomes, retail and healthcare properties.
Brian Somoza, Steve Mellon, Bruce Strasburg and Craig Childs of JLL represented the seller, an institutional investor, in the transaction. Potomac Yard Mini U Storage, LLC, in partnership with Elevation Fund 8, LLC purchased the asset, which is now operating under the Mini U Storage brand.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.