Self-Storage REIT Extra Space Buys 3-Facility Portfolio in Austin, TX

Self-storage real estate investment trust Extra Space Storage Inc. recently purchased a three-property portfolio in Austin, Texas. The facilities encompass 210,084 square feet of storage space and 1,919 units.

Self-storage real estate investment trust Extra Space Storage Inc. recently purchased a three-property portfolio in Austin, Texas. The facilities encompass 210,084 square feet of storage space and 1,919 units.

The purchase price wasn’t disclosed, but recent appraised values are available through the Travis Central Appraisal District, according to the source. The properties are:

  • 9300 Brodie Lane, built in 2011 and valued at $5.5 million
  • 2631 S. Capital of Texas Highway, built in 2013 and valued at $7.85 million
  • 9215 S. First St., built in 2014 and valued at $4.5 million

Steve Mellon and Brian Somoza of commercial real estate firm Jones Lang LaSalle represented the seller, Endeavor Real Estate Group, in the transaction. Endeavor is an Austin-based buyer and developer of retail, office, industrial, and multi-family/mixed-use properties.

Salt Lake City-based Extra Space owns or operates 1,081 self-storage properties in 35 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 720,000 units and 80 million square feet of rentable space.

Sources:

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