JLL Negotiates Sale of Access Self Storage, Secures Financing in Texas

Posted by Modern Storage Media on Jun 27, 2016 12:00:00 AM

HOUSTON, June 27, 2016 – JLL’s Capital Markets experts today announced the firm has completed the sale of Access Self Storage located at 650 Bay Area Boulevard in Houston, Texas. Simply Self Storage purchased the property. In addition, JLL secured acquisition financing. 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 Class A property opened in 2015 and is comprised of one three-story self storage building, with a total net rentable area of 94,475 square feet. Consisting of 800 climate controlled units and 39 non-climate controlled driveup units, the facility features 24-hour video surveillance and an aesthetically appealing customer service office, designed for retail sales.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients – whether a sale, financing, reposition, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe. For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page.