JLL Capital Markets has closed the sale of Woodland Self Storage, a 92,288-square-foot, 952-unit, Class-A storage facility in Austin.
JLL marketed the property on behalf of the seller, Endeavor Real Estate Group. Extra Space Storage purchased the asset. The sale closed on July 19th.
Woodland Self Storage is a climate-controlled facility built in 2019 located along Interstate 35, near Downtown Austin at the intersection of I-35 and Woodland Avenue. With over 400 feet of prime highway frontage, the property benefits from excellent visibility to over 200,000 vehicles per day. The facility was 70% occupied at the time of sale and is fully equipped with best-in-class features and amenities, including electronic access control, secure fencing, elevator access, 24-hour video surveillance and a retail-oriented customer service office.
The property is further benefited by the explosive population in-migration and residential growth currently being experienced in Austin. More than 8,600 new apartment units and 730 new single family home sites are currently being added within a three-mile radius of the property. Woodland Self Storage is located within the Travis Heights neighborhood, which boasts an average household income of $112,000 and a median home price of over $1.3 million, ranking it among the most affluent neighborhoods in Austin.
The JLL Capital Markets team representing the seller was led by Managing Directors Steve Mellon and Brian Somoza and Directors Adam Roossien and Matthew Wheeler.