JLL Capital Markets facilitated the sale of Spencer Mini Storage, a 55,775-square-foot self-storage facility in La Porte, Texas.
JLL represented the seller, ExchangeRight, in the sale of the property to a partnership between MyPlace Self Storage and Nuveen.
Spencer Mini Storage consists of 11 single-story buildings built in the late 1990’s totaling 511 units, 37% of which are climate controlled. In addition to the storage units, the property also offers 79 boat or RV surface parking spaces.
The asset is located at 11220 Spencer Highway in La Porte, a densely populated southeast suburb of Houston. The 4.37-acre site has excellent visibility to more than 17,500 cars per day and benefits from a five-mile trade area housing more than 81,000 people with an average household income of more than $119,000.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Directors Adam Roossien and Matthew Wheeler and Senior Managing Directors Steve Mellon and Brian Somoza.
