The facilities are located in densely populated, large MSAs of the Twin Cities and Kansas City
News release
07 October 2024
JLL completes sale of four-property self-storage portfolio to Uhaul
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MINNEAPOLIS, MN, Oct. 7, 2024 – JLL Capital Markets announced today that it has completed the sale of a four-property self-storage portfolio totaling 3,345 units in the metropolitan areas of the Twin Cities, Minnesota, and Kansas City, Kansas.
JLL’s Self Storage team represented the seller, NexPoint Storage Partners, in a competitive process that procured U-Haul as the ultimate the buyer of the entire portfolio.
The portfolio totals 327,791 square feet of net rentable square feet within modern, climate-controlled facilities. Overall, the portfolio is 88% leased.
All of the properties are located in densely populated, high income areas within two of the nation’s top MSAs. Each property within the portfolio is situated within an affluent (average
household income of over $100,000) and densely populated (average population of over 117,000 people) three-mile trade area with good visibility and easy access.
Properties include: 101 American Blvd. W and 3216 Winnetka Ave N. in Minneapolis, Minnesota; 631 Transfer Rd. in St. Paul, Minnesota; and 500 Southwest Blvd. in Kansas City, Kansas.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About NexPoint
NexPoint is an alternative investment platform comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. The platform provides differentiated access to alternatives through a range of offerings, including public and private real estate investment trusts, tax advantaged real estate vehicles, closed-end funds, open-end funds, interval funds, and a business development company. NexPoint is part of a network of affiliates with expertise across the asset management and financial services spaces.
About U-Haul
Since 1945, U-Haul has been serving do-it-yourself movers and their households. Like many other successful ventures, the concept for U-Haul was generated out of need. After World War II, widespread need existed for do-it-yourself moving equipment that would be available on a one-way, nationwide basis. U-Haul co-founders L.S. "Sam" Shoen and his wife, Anna Mary Carty Shoen, recognized that need and acted upon it. Their visionary approach spread the cost of ownership among many users, facilitating the mobility of the populations of the U.S. and Canada.