UTEX Buys Self Storage Portfolio
The collection includes more than 3,300 units in Texas and Arizona.
UTEX Storage has acquired a three-property self storage portfolio, encompassing 323,000 square feet, according to Yardi Matrix data. Brookwood Properties sold the assets, which were previously under the Storage Center brand.
The 3,380-unit collection includes facilities located in Austin, Texas, San Antonio and Glendale, Ariz. The properties feature 3,296 climate-controlled units and 84 non-climate-controlled units, ranging between 25 and 300 square feet.
Common-area amenities include gated access, 24-hour video surveillance, a full-service manager’s office and showroom, as well as loading and unloading areas.
Marcus & Millichap’s First Vice President of Investments Jon Danklefs represented the seller and procured the buyer.
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Recent self storage portfolio transactions include Andover Properties’ acquisition of six facilities from Metro Self Storage, which total nearly 500,000 net rentable square feet. The assets are in the Philadelphia suburbs and throughout Florida, in Sarasota, St. Petersburg and Fort Myers.
A Southwest storage collection
Located at 4618 San Pedro Ave., the San Antonio property is a Class A, three-story building completed in 2020. The facility has access to Interstate 35 and is less than 6 miles from downtown. The property is one of the 16 available within a 3-mile radius, offering residents 6.6 rentable square feet per capita.
The three-story Class A building at 4500 S. Congress Ave., 4 miles from downtown Austin, came online in 2021. The property has direct access to U.S. Route 290 and is one of the 33 available on a 3-mile radius, providing residents 3.1 rentable square feet per capita.
The third property in the collection, a two-story building completed in 2022, is in Glendale, Ariz. Located at 5256 W. Bell Road, near Interstate 17 and some 19 miles from Phoenix, the facility is one of the 17 available within a 3-mile radius, offering residents 9.4 rentable square feet per capita.
