Pinnacle Storage Properties, a Houston-based firm that operates 10 Texas self-storage facilities under various names, has acquired Storage House of Texas in Garland. The 3.9-acre property at 3402 Bobtown Road is the company’s first in the Dallas-Fort Worth area. The purchase also marks the first property to be rebranded under Pinnacle’s new Storage Plus brand, according to a press release.
The 13-building facility comprises more than 55,000 rentable square feet in 480 units. Features include climate control and various security measures. It’ll serve the communities in Collin, Dallas and Rockwall Counties.
“We are excited to add Storage Plus of Garland to Pinnacle Storage’s portfolio. Storage Plus of Garland, as with all of our facilities, will offer our customers an unparalleled level of service during every phase of their storage experience,” said CEO John Manes. “We will continue to be extremely aggressive in acquiring self-storage properties and look forward to further development in the Dallas area.”
“Our newest acquisition is located in the heart of the continuously growing Dallas metroplex,” added Robby Dunn, chief investment officer. “With the opportunity to potentially expand operations at this location and to increase our footprint in the Dallas area, I am confident that Storage Plus of Garland is another great addition to our portfolio.”
The buyer and the local seller were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co., a Texas-based real estate firm that focuses on the sale of self-storage, industrial, office and retail properties nationwide.
Pinnacle is a privately held real estate owner and operator focused on the acquisition, development and management of self-storage assets. Its investment strategy is to purchase under-leveraged properties in suburban and secondary markets. It currently has a location under development in Round Rock, Texas.