JLL Capital Markets closed the sale of Driftwood Self Storage, a 482-unit self-storage facility in southwest Austin, Texas.
JLL represented the seller, The Jenkins Organization, Inc. and procured the buyer, Platinum Storage Group.
Driftwood Self Storage is located on 13.46 acres at 9900 Darden Hill Rd., approximately 17 miles southwest of downtown Austin. The facility is surrounded by new housing developments near the rapidly growing Highpointe and Driftwood neighborhoods. Driftwood Self Storage is the only self-storage facility in the three-mile trade area and there are currently no planned self-storage developments.
Completed in 2021, Driftwood Self Storage totals 96,433 square feet and is currently 93.4% occupied. The Class A facility offers modern features, including climate controlled-units, drive-up units, covered parking and fully enclosed RV units. The property also has smart unit technology, security lighting, 24/7 cameras and electronic gate access.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Steve Mellon and Brian Somoza and Directors Adam Roossien and Matthew Wheeler.
