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News release

HOUSTON, TX

JLL Negotiates Three Self-Storage Transactions


HOUSTON, December 10, 2015 – JLL’s National Self-Storage Team is proud to announce that the firm has negotiated three recent self-storage transactions. Houston-based Managing Director Steve Mellon and Los Angeles-based Managing Director Brian Somoza led the JLL team on the transactions.  

On behalf of the seller, JLL negotiated the sale of Killeen Self Storage, an 84,588-square-foot facility located at 5400 East Central Texas Expressway in Killeen, Texas.  A private investor acquired the property for an undisclosed amount.

“Killeen Self Storage presented a value-add opportunity for investors, with the opportunity to increase occupancy following the recently completed expansion of East Central Texas Expressway,” said Mellon.

Following the Killeen Self Storage deal, JLL negotiated, on behalf of Excel Commercial, the sale of Pearland Storage @ Southfork, a 71,715-square-foot facility located at 2930 County Road 59 in Manvel, Texas.  Public Storage acquired the property for an undisclosed amount.

“The property is new construction located in the rapidly growing Pearland submarket and is poised for rapid lease up due to the numerous new and proposed residential and commercial developments surrounding the property,” said Somoza.

Most recently, JLL’s self-storage team negotiated on behalf of the seller in the sale of Eagle Rock Self Storage, a 51,891-square-foot facility located at 465 Eagle Rock Avenue in Roseland, New Jersey.  CubeSmart acquired the property for an undisclosed amount.
“Eagle Rock Self Storage is a well occupied facility with a track record of strong performance which will be a great addition to CubeSmart’s portfolio,” said Somoza. 

Tom DiMicelli, Executive Vice President in JLL’s Melville, New York office, also helped lead the JLL team in facilitating this transaction.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.