Rosewood Property Co. (RPC), a Dallas-based real estate firm, has purchased Brooks School Self Storage in Fishers, Ind., a suburb of Indianapolis. Like other RPC properties, the acquisition will managed by Extra Space Storage Inc., a self-storage real estate investment trust.
Built in 2013, the property at 11775 Brooks School Road is on the northeast corner of 116th Street and Brooks School Road. It was expanded in 2015, and comprises 70,200 rentable square feet of storage space in 492 units, with more than half being climate-controlled.
"The Brooks School Self Storage facility adds another important project to our expanding presence in the self-storage sector. The facility, which is well-located in a desirable Indianapolis suburb, is very high-quality and was built and operated by a respected and [remove return] knowledgeable group of local business people,” said RPC President Bill Flaherty.
The seller was represented in the transaction by MJ Partners Real Estate Services, a Chicago-based commercial real estate brokerage and investment firm.
RPC is a subsidiary of The Rosewood Corp., a private investment concern owned by the Caroline Hunt Trust Estate. Its portfolio includes 26 storage facilities in eight states totaling 2 million square feet. The company is building seven multi-story storage projects in Dallas, Denver, Houston and San Antonio, totaling approximately 650,000 square feet. It is also actively seeking acquisitions of existing properties.
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.