Texas Self Storage Facility Changes Hands
Versal represented Second Generation Properties in the sale of the Amarillo asset.
Mack Road Shops & Storage. Image courtesy of Versal
Mack Road Shops & Storage, a self storage facility in Amarillo, Texas, has changed hands. Randall County records show that Iowa-based Second Generation Properties LLC sold the 36,000-square-foot property to a private, Texas-based buyer.
Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller and procured the buyer for the property.
The same Versal team recently facilitated another self storage transaction in December, when MorningStar Properties acquired a 1,263-unit property in Henderson, Nev.
The Amarillo facility encompasses 72 units with climate control, ranging from 50 to 200 square feet. The property offers 12 parking spots, parking for boat, RV and trailer, as well as separate larger shop units, ranging from 1,000 to 1,500 square feet. On-site amenities include video surveillance, 24-hour access, boxes and supplies and drive-up access.
The property is located at 6811 Mack Road, next to Interstate 27 and 13.5 miles from downtown Amarillo. According to Yardi Matrix data, two self storage facilities traded in Amarillo year-to-date, a total of 76,330 square feet. The market has a supply pipeline of three storage properties in various stages of development, set to add 330,820 square feet to the existing inventory of 44 facilities, totaling approximately 2.5 million rentable square feet.
A December 2022 Yardi Matrix report shows that, despite some economic headwinds and a seasonal decrease in demand, the outlook for the self storage sector remains positive, with no significant drops in development activity across the 31 metros tracked by Yardi Matrix.
