Jenkins Organization Acquires 23 Self-Storage Properties in MN, TXJenkins Organization Acquires 23 Self-Storage Properties in MN, TX

Update 3/25/16 – The Jenkins Organization has acquired seven more self-storage properties in Minnesota and Texas for $44 million. The transactions involve active self-storage facilities and are separate from the development-pipeline acquisitions the company announced earlier this week. Five of the facilities are in Houston and two in Minneapolis. Together they comprise more than 640,000 square feet.

“We have been very active acquiring properties in Texas over the past five years,” Minh Tran, director of acquisitions, said in a press release. “Moving forward, we will be very aggressive expanding our footprint outside of the state.”

The properties are:

3/23/16 – The Jenkins Organization Inc., a Houston-based developer and operator of self-storage facilities, has 16 projects in its development pipeline at an estimated cost of $125 million. The properties, which include one in Minnesota and 15 in Texas, will comprise more than 1.5 million square feet. Six of the assets are under construction, with the remainder scheduled to begin development in the next six months, according to a company press release.

“While there is a tremendous amount of self-storage development throughout Texas, we have worked hard to locate sites with high barriers to entry and excellent demographics,” said Ricky Jenkins, president.

Most of the development sites required a zoning change. “We spend countless hours working with the local communities, educating them as to the benefit of having the right storage facility as a neighbor, and that with creative design features, we can actually create an aesthetically pleasing building,” added Robb DeJean, director of development.

The Minnesota property is at 10250 Flanders St. N.E. in Minneapolis. The Texas locations include four in Austin, four in Dallas, three in Houston and two in San Antonio. They are:

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.

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