Two Texas self storage facilities were part of an 8-property deal announced yesterday. Life Storage, one of the nations largest storage companies, was the buyer of the two Texas properties. Life Storage has over 1,000 facilities nationwide.
The facilities are 93% leased and all are considered Class A units, featuring 24-hour security, visibility, climate controlled and ample parking. All in all, the portfolio totaled 4,317 units.
JLL Capital Markets represented the seller, Harrison Street. JLL’s Brian Samoza says the portfolio will not likely be a quick flip, “Quality, convenience, security…set each property apart from the competition ensuring the assets will remain best-in-class for the long term.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.