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News release

HOUSTON, TX

JLL Negotiates Sale of Dies Ranch Storage in Suburban Austin


HOUSTON, April 19, 2016 – JLL’s Capital Markets experts today announced the firm has completed the sale of Dies Ranch Storage located at 2501 Dies Ranch Road in the Austin suburb of Cedar Park, Texas. CubeSmart, a Pennsylvania-based REIT, purchased the property.

Managing Directors Steve Mellon and Brian Somoza represented the seller, Vision 360 Development, in the transaction.

“This new construction offering provided investors with an opportunity to acquire a self storage facility with excellent exposure in a major suburb of Austin and strong surrounding demographics,” said Mellon.

Built in 2014, the facility features modern construction and is comprised of 15 single-story buildings, with a total net rentable area of approximately 89,600 square feet. The property consists of 184 climate controlled units and 339 non-climate controlled units. Features and amenities of the property include: secured gates and fencing with electronic access control, 24-hour video surveillance, drive-up units and a retail oriented customer service office.

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, reposition, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 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 $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 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.