JLL Capital Markets has closed the sale of an eight-property, Class-A self-storage portfolio totaling 4,317 units across markets in Chicago, Illinois; Raleigh and Fayetteville, North Carolina; and Dallas, Texas.
JLL marketed the property on behalf of the seller, Harrison Street. Life Storage acquired the portfolio.
Nearly 93% leased at the end of 2021, the portfolio features facilities with Class-A design and amenities, including 24-hour security, visibility, a mix of climate- and ground-level non-climate-controlled units, elevator access and ample parking. The properties include:
6331 N Broadway St., Chicago, IL
2845 McDermott Rd., Plano, TX
11901 FM 423, Little Elm, TX
3341 West Campbell Rd., Garland, TX
2711 Justin Rd., Flower Mound, TX
1651 TW Alexander Dr., Durham, NC
9300 Fayetteville Rd., Raleigh, NC
809 Chapel Hill Rd., Spring Lake, NC
The portfolio properties are strategically located within each market in densely populated areas with both high barriers to entry and high numbers of renter-occupied housing units.
The JLL Capital Markets team representing the seller was led by Managing Directors Steve Mellon and Brian Somoza, Directors Adam Roossien and Matthew Wheeler and Analyst Robert Westerfield, along with Directors Steven Rutman and Dan Reynolds and Senior Managing Director Ryan Clutter.