SecureSpace Acquires 11-Property Central Self Storage Portfolio From Pegasus GroupSecureSpace Acquires 11-Property Central Self Storage Portfolio From Pegasus Group
August 19, 2022
SecureSpace Self Storage, which operates more than 25 facilities in 10 states, has acquired an 11-property Central Self Storage portfolio in three states from Pegasus Group. The facilities are in the San Francisco Bay Area; Portland, Oregon; and Austin, Texas. Together, they comprise more than 650,000 square feet in 6,550 units, according to a press release from JLL Capital Markets, the firm representing Pegasus in the transaction.
The purchase includes:
2100 A St., Antioch, California
2721 Shattuck Ave., Berkeley, California
324 S. Main St., Milpitas, California
6880 Santa Teresa Blvd., San Jose, California
900 Lonus St., San Jose, California
13760 E. 14th St., San Leandro, California
355 W. Hedding St., San Jose, California
1323 N.W. 16th Ave., Portland, Oregon
8200 S. I-35 Service Road, Austin, Texas
14635 W. SH-71, Bee Cave, Texas
8327 S. Congress Ave., Austin, Texas
The JLL team was led by managing directors Steve Mellon and Brian Somoza, directors Adam Roossien and Matthew Wheeler, and analyst Jake Kinnear.
“This transaction represents the continuance of strong underlying fundamentals within the self-storage market and saw enhanced excitement from the investor world due to the truly excellent locations within the portfolio,” Somoza said. “Both Pegasus Group and SecureSpace Self Storage worked diligently to ensure a successful close, and we were very pleased to work with all parties.”
Based in Torrance, California, SecureSpace operates locations in Arizona, California, Colorado, Florida, Hawaii, Maryland, New Jersey, New York, Oregon, Pennsylvania, Texas, Utah and Washington.
Founded in 1988, Pegasus is a real estate investment and management company. Through individual ownership and portfolio structures, it owns and operates more than 50 properties under the Central Self Storage brand.
JLL specializes in real estate and investment management. It’s a Fortune 500 company with operations in more than 80 countries and a global workforce of 102,000.
You May Also Like