JLL Capital Markets completed the sale of a nine-property, 5,180-unit self-storage portfolio in Midland and Odessa, Texas.
JLL represented the seller, Extra Space Storage, and procured the buyer, AVAD Capital.
The institutional-quality portfolio totals 782,998 rentable square feet in best-in-class assets strategically located throughout Midland and Odessa. The assets are positioned in the Permian Basin, the highest producing oil field in the U.S., generating a thriving and affluent community with outsized self-storage demand.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Steve Mellon and Brian Somoza and Directors Adam Roossien and Matthew Wheeler.
