Jones Lang LaSalle Incorporated : Class A self-storage facility in Austin sells to Extra Space Storage

HOUSTON – August 32022 –JLL Capital Markets announced today that it has closed the sale of Woodland Self Storage, a 92,288-square-foot, 952-unit, class A storage facility in Austin, Texas.

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 state-of-the-art climate-controlled facility built in 2019 with an irreplaceable location along Interstate 35, immediately to the south of 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.

“Endeavor Real Estate Group is a preeminent real estate company in virtually every category, and the quality and location of Woodland Self Storage is yet another example of their development expertise,” said Mellon. “The property attracted significant attention from the acquisition market, and we are excited to see Extra Space Storage add this property to their portfolio.”

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.

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