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| Steve Mellon |
HOUSTON, TX – JLL Capital
Markets announced today that it has closed the sale of 21st Century Self
Storage, a 636-unit, climate-controlled self-storage facility along with a
26-space parking lot in Miami, Florida.
JLL marketed the property on behalf of the seller, 21st Century Self Storage. Amsdell Companies/Compass Self
Storage purchased the facility and assumed the existing debt.
Originally constructed in the 1950s, the one-story building
was converted into a self-storage facility in 2003 and has withstood decades of
unpredictable Miami weather.
The
37,242-square-foot building houses a retail-focused office, 24-hour video
surveillance and secure fencing.
The
accompanying parking lot is located 50 yards south of 21st Century Self
Storage. Situated at 200 NW 79th St., the facility is visible to more than
36,000 vehicles a day at its location at NW 79th Street and NW 2nd Avenue.
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| Brian Somoza |
The
property is 0.3 miles east of Interstate 95 and in a dense urban area with more
than 197,000 residents living within three miles of the facility.
The JLL Capital Markets team was led by Managing
Director Steve Mellon and Brian Somoza along with Executive Managing Director Manny
de Zárraga.
“There are more than 11,000 new multi-housing units either
proposed or under construction within a three-mile radius of 21st Century Self
Storage,” Mellon said. “There is an increasing demand for this product in the
area, which is dense and growing.”
JLL Capital Markets is a full-service global provider of capital
solutions for real estate investors and occupiers.
 |
Manny de Zárraga.
|
The firm's in-depth local
market and global investor knowledge delivers the best-in-class solutions for
clients — whether investment advisory, debt placement, equity placement or a
recapitalization.
The firm has more than 3,700 Capital Markets specialists
worldwide with offices in nearly 50 countries.
For more news, videos
and research resources on JLL, please visit the firm’s U.S. media center Web
page: U.S.
newsroom.
CONTACT:
Kimberly
Steele
JLL
Senior Associate
Public Relations
Phone: +1 713 852 3420
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