Extra Space Storage Buys Dallas-Fort Worth Self Storage Portfolio

The acquisition of the 2018-built facilities adds 1,321 units to the owner-operator's portfolio.
6021 North Freeway

Extra Space Storage has acquired a two-property self storage portfolio in the Dallas-Fort Worth metro from Rearden Capital Corp. Marcus & Millichap represented the seller in the disposition of the two facilities, which total 162,960 rentable square feet across 1,321 units in Corinth and Fort Worth, Texas.

Both facilities include climate control units and are already managed by Extra Space Storage.

The Corinth property consists of four three-story buildings at 3831 FM 2181 near Interstate 35 East. The facility has 557 units ranging from 25 to 300 square feet. The property offers drive-up and elevator access along with RV and boat parking spaces.

Located at 6021 North Freeway, the Fort Worth property houses 764 storage units in one three-story building. Storage spaces range from 25 to 800 square feet, totaling 66,037 rentable square feet. The 6-acre asset is next to Interstate 35 West, some 9 miles from downtown Fort Worth.

The 2018-built facilities are suitable for expansion, with space available for development on the 5-acre Corinth property and land that can be acquired adjacent to the Fort Worth facility, according to prepared remarks from Senior Vice President Brandon Karr of Marcus & Millichap’s Fort Worth office.

Extra Space Storage’s portfolio in the Metroplex includes nearly 5.5 million square feet, according to Yardi Matrix. In mid-June, the company paid $18 million for a 900-unit facility outside of Washington, D.C.