Houston: JLL Sells Two Self-Storage Facilities

In Houston, JLL reported the sale of two self-storage facilities in Houston.

Access Self Storage, located at 650 Bay Area Boulevard in Houston was purchased by Simply Self Storage.

JLL Managing Directors Steve Mellon and Brian Somoza led the JLL team on the sale, while Vice President Griffin Guthneck led financing efforts.

“With best in class design and state-of-the-art construction, this facility leads the market in overall quality, providing investors with the highest quality self-storage space available in its market,” said Somoza. “Additionally, the property is positioned in a populous area with above average household incomes and benefits from excellent visibility along the retail-oriented Bay Area Boulevard.”

The three-story facility opened in 2015 and contains 94,475 SF. Consisting of 800 climate controlled units and 39 non-climate controlled drive-up units, the facility features 24-hour video surveillance.

In another transaction handled by JLL’s Mellon and Somoza, Westport Properties, an Irvine, Calif.-based self-storage group, purchased the 44,600-SF Texas Self Storage facility near Hobby Airport in Houston.

The seller, Airport Boulevard Partners, was represented by JLL. The property consists of 30 climate-controlled units, 453 non-climate controlled units and 35 covered parking units. Some 15,000 apartment units are located within a three-mile radius.

July 1, 2016