Self-Storage REIT Extra Space Acquires Eldridge FM 1960 Storage & Office Warehouses in Houston

Extra Space Storage Inc., a publicly traded self-storage real estate investment trust (REIT) and third-party management firm, has purchased Eldridge FM 1960 Storage & Office Warehouses in Houston. It had been managed by The Jenkins Organization Inc. The property at 10015 N. Eldridge Parkway sits on nearly 7 acres. Built in 2008, it encompasses more than 77,000 net rentable square feet of storage space in 587 units and offices.

The facility includes climate-controlled and traditional storage units. Security features include electronic-gate access, lighting and video cameras. The property also offers a conference room and a retail store that sells moving and packing supplies, according to its Facebook page.

Both parties were presented in the transaction by John Arnold, Bill Bellomy and Michael Johnson of Bellomy & Co., a commercial real estate brokerage company focused on the sale of self-storage, industrial, office and retail properties nationwide. It has offices in Austin, Texas, and Houston.

Headquartered in Salt Lake City, Extra Space owns or operates 1,347 self-storage properties in 36 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 900,000 units and 101 million square feet of rentable space.

Formed in 1989, The Jenkins Organization owns and manages a portfolio of 45 self-storage properties comprising more than 3.5 million square feet in Louisiana, Minnesota, Texas and Virginia.

Sources: