Public Storage Nabs Six-Property, Self-Storage Portfolio

Public Storage acquired a six-property, 3,300-unit self-storage portfolio from a joint venture owned by Advantage Storage and Harrison Street Real Estate Capital. The sales price of the portfolio, which spans the Dallas-Fort Worth area, was not disclosed.

The properties were built from 2001 to 2017. Features include institutional-quality construction, climate-controlled units, drive-up units, 24-hour video surveillance, secure fencing, wide-drive aisle and retail-oriented customer-service offices.

Steve Mellon and Brian Somoza with JLL led the team in brokering the transaction. “Population density, positive job growth and strong residential development are keys to a successful self-storage property,” Mellon said. “The fact that the Dallas-Fort Worth market has seen tremendous growth in all three of these areas made this offering extremely attractive to investors.”

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