Extra Space purchases self-storage facility in Dallas
JLL Capital Markets completed the sale of Greenville Self Storage, which offers 741 climate-controlled units
HOUSTON, Mar. 27, 2023 – JLL Capital Markets announced today that it has closed the sale of Greenville Self Storage, a 741-unit, climate-controlled self-storage facility in Dallas, Texas.
JLL marketed the property on behalf of the seller, Wentworth Property Company, LLC. Extra Space Storage purchased the asset.
Completed in 2019, Greenville Self Storage totals over 83,000 square feet, which includes 2,100 square feet of retail space. The four-story, Class A facility offers drive-up units, state-of-the-art security and personalized access. CubeSmart was previously managing the property, which is currently over 90% occupied.
The property is located at 7557 Greenville Ave. next to Royal Oaks Country Club at the intersection of Walnut Hill Ln. and Greenville Ave. in North Central Dallas. The site provides convenient access to Central Expressway and LBJ Freeway, two of the city’s primary thoroughfares, and is visible to more than 30,000 vehicles per day. The area surrounding the property is home to more than 173,000 residents within a three-mile radius, which provides a stable long-term demand base.
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.
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, please visit JLL’s newsroom.
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 $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Extra Space Storage
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of September 30, 2022, the Company owned and/or operated 2,327 self-storage properties, which comprise approximately 1.6 million units and approximately 175.1 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States. For more information, please visit extraspace.com.
About Wentworth Property Company
Wentworth Property Company is a fully integrated, industry-leading commercial real estate company with proven experience in development, acquisitions and management. A Phoenix-based company, Wentworth has a national presence through its developments in numerous states and a satellite office in Dallas, TX. Wentworth’s projects include ground-up development, build-to-suit, acquisitions and redevelopment of office, industrial, multifamily and storage properties. Wentworth’s team of professionals has been involved in approximately twelve million square feet of development and acquisition transactions. To learn more, please visit: wentworthproperty.com.