Four North Texas self-storage buildings have been included in a tri-state property purchase. Buffalo, NY-based LifeStorage purchased the self-storage properties in Texas, North Carolina and Illinois.
The purchase of over 4,300 storage units includes properties in Plano, Garland, Flower Mound and Little Elm. Properties are over 90% let.
Investor Harrison Street sold the storage facilities. Terms of the sale were not disclosed.
“The portfolio offered the opportunity to gain immediate scale in the self-storage industry with a significant presence in several of the nation’s top performing real estate markets,” Jones Lang LaSalle’s Steve Mellon said in a statement.
D-FW properties are located at 2845 McDermott Road in Plano, 11901 FM 423 in Little Elm, 3341 West Campbell Road in Garland and 2711 Justin Road in Flower Mound.
JLL’s Mellon, Brian Somoza, Adam Roossien, Matthew Wheeler, Steven Rutman, Dan Reynolds and Ryan Clutter brokered the sale.
The acquisition is the latest in several recent large storage property transactions that include properties in North Texas.
New owner LifeStorage is a real estate investment trust with nearly 1,100 properties in 35 states.