Public Storage Snags 6 DFW Facilities
A partnership between Advantage Storage and Harrison Street Real Estate Capital sold the portfolio. JLL Capital Markets negotiated the sale on behalf of the joint venture.
By Evelyn Jozsa
10410 E. Northwest Highway in Dallas
Working on behalf of a joint venture between Advantage Storage and Harrison Street Real Estate Capital, JLL Capital Markets has arranged the sale of six self-storage properties in the Dallas-Fort Worth market. Public Storage acquired the 430,000-square-foot portfolio.
Built between 2001 and 2017, the Class A facilities add up to more than 3,300 units. According to Yardi Matrix data, the portfolio includes the properties located at:
- 10410 E. Northwest Highway in Dallas
- 1241 Prosper Commons Blvd. in Prosper
- 4028 N. Highway 78 in Wylie
- 4028 N. State Highway 205 in Rockwall
- 660 Justin Road in Rockwall
- 855 Lois St. in Roanoke
All self-storage assets are located near major roads, such as interstates 35 West and 635 or the Dallas North Tollway. The Dallas-Fort Worth market is densely populated and the average annual household income within a three-mile radius of each property is approximately $105,000, according to JLL. Characteristics of the facilities include climate-controlled units, drive-up units, 24-hour video surveillance and secure fencing with electronic access control.
JLL Managing Directors Steve Mellon and Brian Somoza led the team that closed the deal.
Last December, Public Storage opened a Houston-area facility, comprising 1,200 units.
Image courtesy of JLL
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