JLL Capital Markets announced today that it has closed the sale of a three-property self-storage portfolio totaling 1,743 units in Dallas-Fort Worth.
JLL represented the seller, a joint venture between Harrison Street and Advantage Self Storage, and procured the buyer, HPI.
The facilities are located at 864 E. Belt Line Road in Cedar Hill, 8060 Precinct Line Road in Colleyville and 6818 FM 2499 in Denton. Each property has excellent frontage along a prominent thoroughfare and is located in a dense and affluent trade area. In addition, the immediate area surrounding all three properties have seen a 47% increase in multifamily development and a nearly 20% increase in residential development since 2010, ensuring steady demand for self-storage space.
The portfolio totals 201,850 square feet across the three properties. Features at the Class A, climate-controlled facilities include 24-hour video surveillance systems, security systems, electronic gate access, keypad entry and individual unit locks.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien and Analyst Jake Kinnear.
“The self-storage sector in Dallas-Fort Worth continues to benefit from the area’s strong job growth, job recovery and population growth,” Mellon said.
