JLL Capital Markets has closed the sale of an 11-property self-storage portfolio totaling 6,550 units in three markets, including 7 facilities in the Bay Area. The firm represented the seller, Pegasus Group and facilitated the sale to SecureSpace Self Storage.
Operating under the Central Self Storage brand, the Bay Area portfolio includes facilities in Antioch, Berkeley, Milpitas, San Leandro and three properties in San Jose. The JLL team of Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear arranged the deal.
“This transaction represents the continuance of strong underlying fundamentals within the self-storage market and saw enhanced excitement from the investor world due to the truly excellent locations within the portfolio,” said Somoza.
Comprising over 650,000 square feet, the portfolio, which also includes locations in Portland, OR and Austin, TX, was highly sought after by a mix of capital sources, according to JLL.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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