Investor picks up three-property Dallas-Fort Worth self-storage portfolio

HOUSTON – November 16, 2022 – JLL Capital Markets announced today that it has closed the sale of a three-property self-storage portfolio totaling 1,743 units in the Dallas-Fort Worth area of Texas.

JLL represented the seller, a joint venture between Harrison Street and Advantage Self Storage, and procured the buyer, HPI.

The facilities are located at 864 E. Belt Line Rd in Cedar Hill, 8060 Precinct Line Rd. in Colleyville and 6818 FM 2499 in Denton. Each property has excellent frontage along a prominent thoroughfare and is located in a dense and affluent trade area. In addition, the immediate area surrounding all three properties have seen a 47% increase in multifamily development and a nearly 20% increase in residential development since 2010, ensuring steady demand for self-storage space.

The portfolio totals 201,850 square feet across the three properties. Features at the Class A, climate-controlled facilities include 24-hour video surveillance systems, security systems, electronic gate access, keypad entry and individual unit locks.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien and Analyst Jake Kinnear.

“The self-storage sector in Dallas-Fort Worth continues to benefit from the area’s strong job growth, job recovery and population growth,” Mellon said.

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 investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in London, Toronto, San Francisco and Washington DC, the firm has more than 240-employees and approximately $53 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street was awarded Best Places to Work by Pensions & Investments for seven consecutive years (2014-2020) and was recognized by PERE as the 2021 Alternatives Investor of the Year, North America and 2020 Global Alternatives Investor of the Year. For more information, please visit www.harrisonst.com.

Advantage Storage is a full-service storage investor with a platform that includes acquisition, development, management and construction capabilities. The firm’s in-depth storage market knowledge has given it the ability to grow its presence to 55 facilities currently in four states.

HPI is a full-service commercial real estate firm with an active portfolio of over 26mm square feet across various asset classes. The self-storage portfolio consists of 35 properties that have been developed, under development, or acquired since 2018. These properties are capitalized through various discretionary funds that total over $200mm of invested equity. For more information, please visit: hpitx.com.