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Wasatch Stows Away its Fourth Austin Acquisition This Year
Park 79 Self Storage, a 780-unit CubeSmart-branded self-storage facility in the growing north Austin-area community of Hutto, TX, recently sold to Wasatch Storage Partners. The purchase price was undisclosed.
This is Wasatch Storage Partners’ fourth Austin-area acquisition this year. Wasatch is managed by CubeSmart.
Completed in 2019, the two-building Park 79 Self Storage consists of one two-story building with interior climate-controlled units and ground-level drive-up units, and one single-story building with drive-up units. Additionally, the facility has electronic access, secure fencing, 24-hour surveillance, upper-floor elevator access and a customer service office.
The facility is situated on 3.18 acres at 244 Benelli Dr. With more than 400 feet of frontage and signage along E. Palm Valley Boulevard (Highway 79), Park 79 Self Storage is visible to 35,000 vehicles per day. There are more than 63,000 residents with an average household income of more than $128,000 within a three-mile radius of the property, and the population is projected to grow at an annual rate of 2.74 percent in the next five years.
JLL worked on behalf of the seller, Park 79 Storage LLC. The JLL team was led by Brian Somoza and Steve Mellon.
Hutto is a northern suburb 28 miles from downtown Austin.
- ◦Sale/Acquisition
