News release

11-property self-storage portfolio sells

JLL Capital Markets closed the sale of the 6,550-unit portfolio in infill San Francisco, Portland and Austin markets

August 17, 2022

Kimberly Steele

Industries, Work Dynamics and PDS PR
+1 713 852 3420

HOUSTON, August 17, 2022 – JLL Capital Markets announced today that it has closed the sale of an 11-property, best-in-class self-storage portfolio totaling 6,550 units in three high-performing real estate markets, the San Francisco Bay Area; Portland, Oregon; and Austin, Texas.

JLL marketed the portfolio with Pegasus Group, on behalf of the seller, Pegasus Group sponsored investments, and facilitated the sale to SecureSpace Self Storage.

Operating under the Central Self Storage brand, the institutional-quality portfolio includes the following properties:  

  • 2100 A Street, Antioch, CA
  • 2721 Shattuck Ave, Berkeley, CA
  • 324 S Main St, Milpitas, CA
  • 6880 Santa Teresa Blvd, San Jose, CA
  • 900 Lonus St, San Jose, CA
  • 13760 E 14th St, San Leandro, CA
  • 355 W Hedding St, San Jose, CA
  • 1323 NW 16th Ave, Portland, OR
  • 8200 South I-35 Service Rd, Austin, TX
  • 14635 West SH-71, Bee Cave, TX
  • 8327 S Congress Ave, Austin, TX

Primarily concentrated within the San Francisco Bay Area, the portfolio was a truly unique aggregation of best-in-class real estate in a market that rarely sees scale of this type come up for sale, coupled with more recently built Class A facilities in the highly desirable growth markets of Austin and Portland.  Comprising over 650,000 square feet, the portfolio was highly sought after by a mix of capital sources as investors continue to push allocations in real estate and particularly alternatives such as self-storage.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien and Analyst Jake Kinnear.

“This transaction represents the continuance of strong underlying fundamentals within the self-storage market and saw enhanced excitement from the investor world due to the truly excellent locations within the portfolio,” Somoza said. “Both Pegasus Group and SecureSpace Self Storage worked diligently to ensure a successful close, and we were very pleased to work with all parties.” 

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 investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.   

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Pegasus Group

Pegasus Group is a real estate investment and management company that was founded in 1988.  We started Pegasus Group to provide low risk, real estate investments, and, for the past 20 years, have focused primarily on the self-storage industry.  Through individual ownership and portfolio structures, we currently own and operate over 50 properties throughout the United States under our national brand Central Self-Storage®.

About SecureSpace Self Storage

Based in Torrance, California, SecureSpace Self Storage is one of the fastest growing Self Storage platforms in the USA with assets located primarily in high-density, urban markets. With a focus on exceptional customer service and upgraded security features, SecureSpace provides a high-quality experience that our customers can count on in any store they visit. Relax. It’s safe at SecureSpace