Madison Capital Acquires DFW Self Storage Facility
JLL Capital Markets represented the seller and procured the buyer for the 1,252-unit property.
Madison Capital has acquired a 152,000-square-foot self storage facility in Dallas. A JLL Capital Markets team represented the seller, CSW Development, and procured the buyer.
According to public records, Skymar Capital Corp. provided a $16.6 million acquisition loan, which carries a 2026 maturity date.
The Class A property offers 117,503 rentable square feet, half of which is currently leased. The facility will be rebranded under the Go Store It brand.
Go Store It Self Storage encompasses 1,252 climate-controlled units, as well as a 1,000-square-foot office space and a bike storage area. The single-building, three-story property was completed last year on a 2.4-acre site. Amenities at the facility include 24-hour video surveillance, on-site management, retail options and contactless renting.
Located at 2500 Lone Star Drive, Go Store It Self Storage is roughly 5 miles from downtown Dallas, providing easy access to Interstate 30. The facility is one of the seven self storage assets available within a 3-mile radius, offering residents 3.9 rentable square feet per capita. More than 130,000 people live within this area, while an additional 1,000 multifamily units are planned for delivery in the near future.
Steady growth in the self storage sector
JLL Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien, along with Analyst Jake Kinnear worked on the transaction. Mellon and Somoza brokered another Texas storage facility transaction back in June, when SurePoint Self Storage sold Imperial Self Storage, a 95,963-square-foot facility in Sugar Land, Texas.
The self storage market continues to be a recession-proof commercial property sector, showing steady rent growth and investor interest. Acknowledging the market’s potential, Mellon stated in prepared remarks that the DFW metro continues to attract self storage investors, due to a population increase of more than 20 percent from 2010 to 2020, well above the national average.