Extra Space Buys Dallas Storage Asset

JLL Capital Markets brokered the sale of the 741-unit property.

Greenville Self Storage. Image courtesy of JLL Capital Markets

Greenville Self Storage. Image courtesy of JLL Capital Markets

Extra Space Storage has acquired Greenville Self Storage, an 83,000-square-foot self storage facility in Dallas. Wentworth Property Co. sold the 741-unit asset, which was previously under CubeSmart management.

The property last traded in 2020, when the former owner purchased the facility from The Parham Group, becoming subject to an $8.8 million loan provided by Enterprise Bank & Trust, Yardi Matrix data shows.

JLL Capital Markets represented the seller through a team led by Managing Directors Brian Somoza and Steve Mellon, alongside Directors Matthew Wheeler and Adam Roossien.

Completed in 2019, the four-story facility sits on 1.6 acres and features climate-controlled units ranging from 25 to 400 square feet. The property includes 2,100 square feet of retail space. The Class A asset also offers on-site amenities such as video surveillance, drive-up access, contactless renting and gated access.

The property is located at 7557 Greenville Ave., 10 miles from downtown Dallas and has access to State Route 75. The facility is one of the 19 storage assets available within a 3-mile radius, offering residents 8.7 rentable square feet per capita. According to Yardi Matrix data, Dallas has a pipeline of 28 properties under construction and another 56 in the planning and prospective stages, set to add approximately 5.4 million square feet to the existing inventory.

Wentworth Property Co. recently acquired a 43,527-square-foot self storage asset in Haltom City, Texas, and sold an 18-property storage portfolio to Related Cos., located across the Southwest. The assets traded for $266.2 million.

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