National Storage Affiliates Buys Texas Portfolio
The company has purchased nine properties totaling nearly 5,000 units in the Houston, San Antonio and Austin markets.
Locktite Storage. Image courtesy of JLL
National Storage Affiliates has acquired a nine-property portfolio, comprising a total of 4,835 units across nine cities in Texas. The storage assets, ranging between 29,768 and 155,300 square feet, are in Dripping Springs, Wimberley, Seguin, Conroe, Deer Park, La Porte, Pasadena, Manvel and Houston. JLL arranged the sale on behalf of seller Locktite Storage.
The largest property included in the portfolio encompasses 1,068 storage spaces and is situated in Dripping Springs at 3000 East Highway, around 20 miles from downtown Austin, Texas, and less than 24 miles from the Austin-Bergstrom International Airport. Built in five phases between 1997 and 2019, the facility features both climate-controlled and drive-up units. Other characteristics include covered parking spaces, 24-hour video surveillance and secured gates.
On the other side of the spectrum, the smallest facility in the portfolio in terms of the number of units is in Manvel at 4000 Bailey Road, near freeways 288 and 35, approximately 20 miles from downtown Houston. The property comprises 98 drive-up and drive-through units, ranging from 437 to 700 square feet. Additional characteristics include video surveillance, secured gates, parking and RV parking spaces.
JLL’s brokerage team included Managing Directors Steve Mellon and Brian Somoza. In January, the duo also brokered the sale of 2,250 units in Illinois and Texas.
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